Public sector enterprises were seen as white elephants and cash cows during the 1960s 70s and 80s. After the liberalization from the early 90s the continuous losses, operational and administrative inefficiencies have created a number of problems for Это и многое другое вы найдете в книге Performance of Public Sector Enterprises in the stock market (Pawan Kumar,R.K. Mishra and Naresh Kumar Sharma)