Name the sector whose role has changed considerably in the Indian economy after 1991 and explain any five changes



The name of the sector is pubic sector. The changes in the role of public sector after 1991 are as follows :
1.Reduced number of reserved industries : The Government of India adopted the policy of liberalization and delicensing thus opening the industries reserved for public sector to private sector. Currently, only three industries are reserved for the public sector—atomic energy, defence and railways.
2.Privatisation of public enterprises : To expand the role of the private sector, there is emphasis on privatisation of public sector enterprises by selling these to the private sector.
3.Dilution of share holdings: The central government has diluted its share holdings in many government companies through the disinvestment policy to increase the participation of workers of PSEs in the productivity and profitability of these enterprises.
4.Performance improvement through MOU : The Government of India has entered into a Memorandum of Understanding (MOU) with many private sector enterprises under which the government has laid performance targets for these enterprises.
5.Revival of sick units : Sick PSUs have been referred to the board of Industrial and Financial Reconstruction (BIFR) to analyse their financial performance to suggest suitable measures for their revived.