Role of Public Sector Undertakings in Competitive Environment

Globalization has turned whole world into a single economy, thereby into competitive economy. The enterprises have succeeded to survive in the changed environment with the adoption of latest and most of the efforts have been informal, implicit and thus less effective. During the time of independence, India was underdeveloped and backward – an agrarian economy with weak industrial base, low level of savings, high rate of unemployment, investment and absence of infrastructural facilities. Indian economy needed a big turn. This could not come from the private sector because of their inability to take risk and lack of funds. Thus, government intervention through public sector was necessary for economic growthand to overcome economic and social backwardness. The research paper emphasis on the role played and contribution made by Public Sector Undertakings in the nation's growth and development and stating the contentious issues related to their working.