Logo

Synopsis The present book entitled as " Public Sector Reforms in India: A case Study of ONGC" endeavours summingly to evaluate and analyse, at length, the overall performance of public sector undertakings in India over the period since 1984-85. Realising the weaknesses of the centrally planned, controlled and protected Indian economy in accomplishing the enshrined objectives, the Government of India announced New Economic Policy as well as New Industrial Policy in July 1991 to get rid of gradually accumulated and touching the near backruptcy height of the financial crisis, in order to put forth the Indian economy on the right track, besides, making it more vibrant and dynamic. Thus, the New Economic Reforms aimed at simplifying the procedures, reducing unnecessary delay because of too much bureaucratisation and encouraging larger inter-play of market forces through more privatisation and liberalisation at both the national and the international levels. The book highlights, inter-alia, the conceptual weaknesses explicitly noticeable in the package of the reforms and suggests diagnostic policy capsules for enforcement in future. The conclusions drawn are objectively based on the systematic and scientific study of the impact of economic reforms on the performance and prospects of ONGC after taking into account all the relevant issues concerning policy, programmes and strategy. The study has come out with more meaningful and better rewarding findings. One of the most striking being that the relative contribution of capital to net income in ONGC exceeds that of the labour, fetching clear-cut indications for greater emphasis on more and more capital deepening so as to ensure higher profitability for ONGC in future. Besides, the study has strongly advocated for ONGC to follow the trio of ‘economy’, ‘efficiency’ and ‘effectiveness’ in all branches of its activities to improve the overall performance.