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Implementation of Memorandum of Understanding (MOU) and Performance Trajectory of Public Sector Enterprises (PSEs) in India
International Journal of Management Studies
At the time of independence Indian economy was pre-dominantly agrarian in nature. There was little industrial presence in the country. The policymakers of independent India favoured creation of public sector as a tool for economic development through industrialisation. After the announcement of Industrial Policy Resolution 1956, the public sector saw massive growth in terms of investment and diversification. However, by the early eighties there was clear realisation among the policymakers thatdoi:10.18843/ijms/v5i3(9)/12 fatcat:3nxamirzy5cjnoiauurjg5kile