Privatization of Public Enterprises : Trends and Issues

This book presents a critical assessment of Indias disinvestment exercise initiated as part of the larger economic reforms in 1991. The macro-economic crisis of 1980s exposed the excessive expansion of Public Sector Enterprises (PSEs) which manifested a number of weaknesses in their performance. This domestic crisis was converted into an opportunity when a massive programme of disinvestment of PSEs was launched in phased manner. A number of PSEs was privatized through sale of equity to the public. The purpose of the reform was to limit their size and redefine the role to enhance productivity and efficiency. This study intends to review functioning of disinvestment drive on empirical grounds. To be precise it examines to what extent the disinvestment of PSEs is successful on the parameter of financial efficiency modernization employment generation regional imbalance utilization of proceeds and methods of privatization. The book provides an insight for researchers and policy makers working on this current subject.