How is the insufficient production of public sector enterprises become a main cause of adaptation of economic reforms - Economics - Unit II- Liberalisation Privatisation and Globalisation An Appraisal

Question

How is the insufficient production of public sector enterprises
become a main cause of adaptation of economic reforms?

Vaishali Nebhwani · Accepted Answer

Dear student

During the process of Industrialisation, public sector has been
given high priority, the development of heavy and capital bases
industries was in hands of public sector but the functioning of
public enterprises has suffered due to red tapism and corruption
due to which public sector started incurring huge losses and this
has became a reason for adaption of economic reforms and
privatisation has been introduced to overcome such loss

Regards

How is the insufficient production of public sector enterprises become a main cause of adaptation of economic reforms?