ABSTRACT
The concept of the market as a means of control decentralisation calls for an explanation. In most cases of the agencies discussed, the assumption was that control in the sense of a deliberate public intervention was involved; the question was whether it should rest wholly with the government or, to some extent, with some other agency. The real case for public enterprise arises in a situation of market failure or where the government intends to initiate, in the national interest, a development process that deviates from what the market forces by themselves evolve. To think in terms of the market as a medium of control over public enterprise amounts to an antithesis viz., remarketisation. The government has to lay down the basic criteria, subject to which the commission in one case and the market in the other are allowed to wield the rest of the control function.
