Privalization : bane or panacea / edited by Ruddar Datt
- Delhi Pragati Pub. 1993
- 322p.
In his Preidential Address to 74th Annual Conference of the Indian Economic Association, jheld on DEcember 28, 1991, Professor Ruddar Datt analysed the theme "public sector and Privatization. Analysing the major criticisms against the public sector, he maintained that whereas the private sector enterprises have only one objective "profit maximisation", the public sector enterprises have to cater to several social obligations and are not free to adjust their prices with an escalation in the costs. Although the Central Public Sector Undertaking showed a low rate of return in the seventies, bu the situation improved in the eighties, and gross rate of return since 1981-82 has ranged between 12 to 13 percent. Obviously, the situation in PSUs is turning from black to grey.