TY  - JOUR
AB  - State‐Industry interface has always been a subject of debate
because the role of the state in relation to industry depends on the
economic philosophy adopted by a country. The two extreme economic
philosophies, capitalism and socialism, have their own limitations. Once
Winston Churchill observed: “Capitalism is unequally shared wealth
while Socialism is equally distributed poverty”. India has
followed the path of a “mixed economy” which thrives on the
co‐existence of public and private sectors. The joint sector which
provides a compromise between public and private sectors has been a
subject of debate in the country since the early 1970s. Today when the
Indian economy is in transition there is a need to make a fresh
assessment of the joint sector. The basic idea underlying the concept is
a combination of joint ownership, joint control and professional
management. It is a pattern wherein the Government, through its
Industrial Development Corporation (IDC), holds 26 per cent of equity
capital, the private sector partner holds 25 per cent and the remaining
49 per cent is meant for the public. In fact, the joint sector is the
application of the concept of a mixed economy at the micro level.
VL  - 7
IS  - 1
SN  - 0951-3558
DO  - 10.1108/09513559410051345
UR  - https://doi.org/10.1108/09513559410051345
AU  - Mishra R.K.
AU  - Lateef Syed Mohammed A.
PY  - 1994
Y1  - 1994/01/01
TI  - Privatization in India: A Case for the Joint Sector
T2  - International Journal of Public Sector Management
PB  - MCB UP Ltd
SP  - 67
EP  - 76
Y2  - 2024/04/25
ER  -