Question
Explain the growth of Public Enterprise in India. What are the three phases in which the
development of the public sector in India can be divided? Discuss.
Answer :
Word Count : 391
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Skip in 10
Public enterprises in India have grown as an important instrument of economic development, social justice, balanced regional growth, and national self-reliance. At the time of Independence, the country had a weak industrial base, inadequate infrastructure, shortage of private capital, and widespread poverty. The Government considered public enterprises essential for accelerating industrialization, creating employment, developing strategic industries, and reducing regional disparities. As a result, the public sector became a major component of India's planned economic development. The growth of public enterprises was influenced by the Industrial Policy Resolution of 1948, which recognized the role of both public and private sectors, and the Industrial Policy Resolution of 1956, which assigned a dominant role to the public sector in commanding heights of the economy. Public enterprises expanded into heavy industries, steel, coal, petroleum, power generation, transport, telecommunications, banking, insurance, engineering, fertilizers, and infrastructure. They also played a vital
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