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After independence, the Government of India had dominant consideration for the continuous large investments in PSE to accelerate the growth of the core sectors of economy like railways, telecommunication, nuclear power, defense etc. This was done to improve the nation's self-sufficiency in the core sectors of the economy. But due to the increased competition from private enterprises and large MNCs, performance of these PSUs was not up to the expectations. The public sector overgrew itself along with certain shortcomings like low-capacity utilization, low efficiency, over capitalization,...