Indian Economic Development: Indian Economy 1950–1990 · Class 12 · CBSE · Commerce Economics
Why was the public sector given a leading role in India's development strategy after independence? State one limitation that became evident by 1990.
Practice question from Indian Economic Development: Indian Economy 1950–1990 (Class 12 · CBSE · Commerce Economics), with the correct answer and a step-by-step solution.
medium · Subjective · Q-882466
Why was the public sector given a leading role in India's development strategy after independence? State one limitation that became evident by 1990.
Solution
The state considered public ownership necessary for strategic industries, infrastructure and activities requiring large investment. However, several public enterprises later suffered from inefficiency, weak accountability and financial losses.
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