EONOMICS OF PUBLIC SECTOR UNDERTAKINGS
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IT WAS AT THE TIME of Narasimha Rao, the then prime minister the policy of globalisation was started in India. It is the privatisatin of policy of so called world political power imperialism. Hence the tools of globalisation are liberalization and privatisation. Economics of privatistion is capitalism. By the emegernce of privatisation the role of state owned undertakings come down saying that they are not financially motivated projects, not profit motivated projects. Only Money motivation can boost up the economics is the basic slogan of globalisation. Globalisation is a policy strictly against the welfare economics and welafre measures. Equitable distribution of social wealth is not justified under globalisation. In India globalisation is operated by corporate politics hence equity is the voice of corporates. State ownership promotes community development in general by raising the slogan wealth for the common benefit. Private ownership promotes monopoly ,by concentration of economic power in corporate houses it is the vested interest in business economics. Welfare economics means community approach in wealth distribution.