New Delhi: Although it has seen "tremendous denigration" over the years, the public sector continues to be relevant to the Indian economy, Vice President Hamid Ansari said on Tuesday.
"Unfortunately, over the years the Public Sector has seen tremendous denigration... We consciously opted for mixed economy (private and public sector) because those were the requirements of time...the situation. I think those imperatives remain operational today," Ansari said while releasing a book written by a former chief of a state-owned firm.
"The balance may change...but the operative requirement of having public sector undertakings (PSUs) for the good of the economy as a whole (remains)," he said. The Vice President released 'Untold Story of the Indian Public Sector', a book authored by UD Choubey, the Director General of SCOPE (Standing Conference of Public Enterprises).
He was the Chairman and Managing Director of GAIL. Ansari said that in India, people in high positions remain shy of sharing their experiences. The book throws light on various aspects of working in the public sector and provides a picture of its overall environment as experienced by the author.
Choubey said he has not tried to bring in controversies to make it a best-seller. According to him, there is need for structural changes in PSUs particularly those that have operations outside the country. Top officials of various PSUs were present at the launch including SAIL Chairman CS Verma and NTPC Chairman and Managing Director Arup Roy Choudhury.
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