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unit-4-planning,-governance-and-institutions

Unit-4 Planning, Governance and Institutions

This unit outlines the growth performance in each plan, the shifts in plan priorities and strategies, and the shifts in major economic policies leading to the present regime of economic reforms with a central place to market induced investment and growth.

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Briefly state changes in public sector policy as a part of economic reforms. 

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Learning Pundits Content Team

Written on Jun 26, 2019 2:48:36 PM

The major changes in the public sector reforms were:

 i.  The number of industries reserved for public sector was reduced from 17 to 8.  Even in the reserved areas, private sector participation was allowed selectively.  Joint ventures with foreign companies was encouraged.

 ii. Public sector enterprises, that were chronically sick would be referred to Board  for Industrial and Financial Restructuring (BIFR) and closed or privatised if  necessary.

iii. There would be increasing emphasis on profitability and rate of return, and    budgetary support to public enterprises would be progressively reduced.

iv.Loss making enterprises would be considered for privatisation and selective  disinvestment would be introduced to strengthen the resource position of public  enterprises. The Disinvestment Commission was established for deciding on  the  selection and modalities of equity dilution.