Private Sector

Policy Writer: Naya Yug |

The growth rate of GDP originating in the public sector has always been higher than the growth rate of GDP originating in the private sector. Nevertheless, despite public sector registering higher growth rates than the private sector, the contribution of private sector to overall growth was always higher because of its significantly higher share in GDP. Given the traditional importance of the private sector in some of the physical and social infrastructure areas and its increasing significance in the erstwhile government areas of function, the efforts to reduce impediments to private sectors development could provide thrust to the socio-economic process.

  • Section 13.1 - The national strategy should promote a strong and dynamic private sector that will contribute to long-term economic growth and sustained poverty reduction.
  • Section 13.2 - Post-reform policy in India should continue to attract private investments in expanding India’s infrastructure, which would catalyse the economic growth.
  • Section 13.3 - There is a need to address poor governance in the public sector that continues to have adverse impacts on India’s private sector.
  • Section 13.4 - Institutional strengthening interventions in key areas like Customs, Excise and Sales Tax administration is required to help improving the investment climate in India.
  • Section 13.5 - Its time to strengthen the private sector’s capability by enhancing their capital base and widening the range of debt instruments available in the market.
  • Section 13.6 - We need to raise the efficiency of public administration system and implement policies measures that could facilitate smooth private sector activity
  • Section 13.7 - We need to improve the efficiency of our legal system that can allow businesses to operate in a free and fair environment.
  • Section 13.8 - The government should protect consumers and ensure a strong competitive market by enforcing a variety of consumer protection and antitrust laws.
  • Section 13.9 - The government should protect the market from anti-competitive practices such as large mergers and price-fixing conspiracies.

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