"Ownership & Management is an important perspective of Public Enterprises." In the light of above statement discuss different policies adopted by the Government with respect to ownership and management.

Ownership and management are critical aspects of public enterprises, influencing their functioning, performance, and overall impact on the economy. The government, as the primary owner of these enterprises, has the responsibility to formulate policies that govern the structure, control, and operations of public sector enterprises (PSEs). Over time, different policies have been adopted to address the challenges of ownership and management of PSEs, aimed at improving efficiency, accountability, and transparency. 

The policies concerning ownership and management of public enterprises can be broadly categorized into several phases based on the historical context and economic needs.

1. Nationalization and Public Ownership (1947-1990):  
In the early years following independence, India adopted a policy of nationalization and public ownership, particularly in key sectors such as heavy industries, steel, coal, and transportation. This phase was aimed at ensuring control over essential industries to promote self-sufficiency and to protect national interests. The government’s primary objective was to accelerate economic development, create employment, and reduce foreign control over critical industries. Under this policy, public enterprises were established as state-owned corporations, with the government assuming full ownership _____ ________ ________ _______ ____ _________ ________ ____ ________ ______ _________.
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