Question:
What was the role of the public sector before 1991?
Answer:
Before 1991, public sector was supposed to perform the following role in India:
- Rapid Economic Development: It was required to make efforts so that the rate of economic development accelerates.
- Provision of Infrastructure: Another expectation from public sector was to provide infrastructure in the form of better roads, more hospitals, more schools, better irrigation facilities etc.
- Sound Industrial Base: We also needed public sector to develop a sound industrial base because Private Sector either did not have huge capital required for these or were not interested in this sector as they had a long gestation period.
- Development of Backward Regions: Public sector also aimed at developing backward regions as it is necessary for the balanced development of a country. Private sector being profit minded does not take interest in investing in backward regions.
- Generation of Surplus: Another expectation from public sector was to generate a surplus that could be used for investment in other sectors whereby the growth rate could be accelerated.
- Creation of Employment Opportunities: Public sector also played its role in creating employment opportunities in organized sector so that poverty can be reduced and standard of living can be enhanced.
- Control of Monopoly and Restrictive Trade Policies: Public sector also aimed at controlling monopoly and restrictive trade policies. Otherwise few private industrialists would have gained extreme economic power. It could be harmful for the nation as a whole.
- Serving of Strategic National Interests: Public sector also plays its role in serving strategic national interests. They provide law and order, administrative services, police, defence, and many infrastructural facilities even when they are not given any profit as such in monetary terms.
Private, Public and Global Enterprises
Q 1.
Multinational Companies have done more harm than good. Explain.
Q 2.
Discuss the merits and demerits of Departmental Undertaking.
Q 3.
State the various types of organizations in the private sector.
Q 4.
Explain three trends indicating changing role of public sector.
Q 5.
Why is the government company form of organization preferred to other types in the public sector?
Q 6.
Can the public sector companies compete with the private sector in terms of profits and efficiency? Give reasons for your answer.
Q 7.
"MNC's are in a position to exercise massive control on an economy."Substantiate.
Q 8.
Explain the main features of Multinational Company.
Q 9.
Explain the merits and demerits of public-private partnership.
Q 10.
Give the meaning of Government Company. Explain three merits and three limitations of Government Company.
Q 11.
"Public sector has changed its role since 1991 a great deal". Do you agree? Justify your answer.
Q 12.
What was the role of the public sector before 1991?
Q 13.
What are the benefits of entering into joint ventures?
Q 14.
What is Statutory Corporation? Explain its features, merits and demerits.
Q 15.
Explain the concept of Public Sector and Private Sector.
Q 16.
Why are global enterprises considered superior to other business organizations?
Q 17.
Describe the Industrial Policy 1991, towards the public sector.
Q 18.
"Global enterprises are giant both in size and operations."Substantiate this statement.
Q 19.
Define Joint Venture and explain its major benefits.
Q 20.
How does the government maintain a regional balance in the country?
Q 21.
What are the different kinds of organizations that come under the public sector?
Q 22.
"The basic rationale of public sector has changed significantly."In the light of this statement explain any four initiatives taken by the government.
Q 23.
List the names of some enterprises under the public sector and classify them.
Q 24.
What is the difference between Public and Private sector?
Q 25.
Differentiate between Statutory Corporation, Departmental Undertaking and Government Company.
