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PUBLIC ACCOUNTABILITY






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Government Policy of Joint Sector

In India, a number of joint sector enterprises have been established, e.g., Gujarat State Fertilizers Company, Indian Telephone industries Ltd., Hindustan Machine Tools, Cochine Refineries, Indian Rare Earths Ltd., Praga Tools Corporation, etc.

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Advantages of Joint Sector

The concept of joint sector is very attractive and ideally suited to the country's mixed economy.

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Joint Sector

The joint sector is an extension of the concept of mixed economy. The Industrial Policy Resolution 1956, sowed the seeds of the joint sector by advocating Government participation in the equity capital of private sector enterprises to promote socially determined pattern of industrial growth.

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Measures for Improvement

The public sector in India has come of age and it is expected to play an expanding role in future.

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Problems and Shortcomings of public Enterprises

Despite their impressive role, Public enterprises in India suffer from several problems and shortcomings.

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Role Of Public Sector In India

The public sector has been playing a vital role in the economic development of the country. In fact the public sector has come to occupy such an important place in our economy, that on its effective performance depends largely the achievement of the country's economic n social goals.

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Growth and Magnitude of Public Enterprises in India

The the time of independence, public sector in India was confined mainly to railways, communications, defense and public utility services. The Industrial Policy Resolutions of 1948 and 1956 declared that public sector will be expanded in a big way.

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Balance between Autonomy and Accountability

The foregoing discussion reveals that both operational autonomy and public accountability are essential for the proper functioning of public enterprises. Though autonomy of day-to-day management is indispensable for efficient conduct, accountability of public undertakings to Parliament and the public cannot be dispensed with.

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Methods of Ensuring Public Accountability

Checks and balances are necessary to ensure that public enterprises are operated in accordance with State policy.

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