Rejuvenating the juggernaut? : post -1991 reform of India's public sector enterprises

"This paper reviews the mediocre performance of India's state-owned enterprises (SOEs) which prompted the announcement in 1991 of a public sector reform program, the extent to which such reform measures have been implemented, the associated post-1991 performance of India's SOEs and the relative merits of continued public ownership with a view to rejuvenation, versus privatization. This is examined in the context of an over-politicised polity and shifting balance of power, the "soft" character and limited autonomy of the state in India, and a regulatory system hitherto designed to constrain managerial discretion, entrepreneurship and autonomy."--p. 1.