Indian Economy

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The Joint Sector in Indian Economy

Introduction

Both the public and private sectors played a significant role in the rapid industrialization of India after the country adopted the Five Year Plan in 1951. But over the next three decades or so some amount of conflict and friction between the two sectors appeared to be emerging; it underscored the general perception that the State ownership of PSUs served a social purpose, but they were inefficient, while private sector was better and more efficiently managed though they were meant to serve only their investors. In that perception was a subtle hint, why not marry the two? This perception and the developments that followed in the country ensured the emergence and growth of what has been described ...