At the time of Independence, it was expected that the public
sector enterprises would play an important role in achieving certain objectives
of the economy either by direct participation in business or by acting as a
catalyst. The Indian economy is in a stage of transition. In the post 90’s
period, the new economic policies emphasisedliberalisation, privatisation and
globalisation. The role of the public sector was redefined. It was not supposed
to play a passive role but to actively participate and compete in the market
with other private sector companies in the same industry.
