Briefly explain the rationale for the establishment of Public Enterprises in India with special reference to its development objectives.

The establishment of Public Enterprises (PEs) in India can be traced back to the post-independence era when the country underwent significant economic and social transformations. The rationale behind the creation of Public Enterprises was driven by a combination of economic, social, and developmental objectives, aiming to address the challenges of a nascent economy and fulfill the broader goals of the nation.

1. Industrialization and Economic Development:
   One of the primary reasons for the establishment of Public Enterprises in India was to promote industrialization and economic development. In the aftermath of independence in 1947, India faced the daunting task of transitioning from a primarily agrarian economy to an industrialized one. PEs were seen as instrumental in fostering key industries, particularly those that were capital-intensive and ______ _______ ____ __________ ___.
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