The Public Undertaking and Their Functions: A Study

Abstract

Most emerging nations initially lack significant financial and business acumen and suffer geographical imbalances. The two fundamental objectives of all developing countries are to boost productivity and to achieve an equitable and just social system. However, the magnitude of these countries socioeconomic challenges makes state intervention inevitable in achieving this goal, and in many cases, it is also desirable. Therefore, state intervention becomes an integral part of industrial development and the encouragement of industrial enterprises, both as a national policy issue and as a means of guaranteeing public control over specific sectors. By actively engaging with the business community, the government has tried to tap into the goldmine of industry and trade for the resources it needs to shoulder the new and greater responsibilities it now has, and so, this article revolves around the public
undertaking as an instrument to reach the set aim, defined as a body with legal personality and established by or under an undertaking statute of the Government of India. It is an undertaking in the industrial, commercial, or special interests of the public and has a high degree of administrative and financial autonomy.