This book analyses the importance of human resource in economic development and examines in detail whether labour could be blamed for all the ills of the public sector enterprises in India. Dr. Aggarwal presents a comprehensive analysis, in this context, of the wage-productivity relationship and examines the same for public sector enterprises at the industry and firm level. The attention has been focused on public enterprises because of the growing criticism, as a result of the wave of economic liberalization, about its disappointing profitability and efficiency. The author examines in detail how the role of state-intervention in economic development has been changing and how the pendulum has swung from one extreme of pure market economy to complete state control and back to market economy once again. In this context he present a comprehensive analysis of the growth and objectives of public sector enterprises in India, both before and after 1991, when public sector reforms were made part of the overall reform programmes. The book makes available in one place a substantive discussion of various economic issues related to wages, productivity and public enterprises for students of labour economics, public finance, industrial economics and all those who are interested in the performance of public sector enterprises of the Indian economy.
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