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Abstract
Public sector enterprises have been set up to serve the broad macroeconomic objectives of higher economic growth, self sufficiency in production of goods and services, long term equilibrium in balance of payments and low and stable prices. The CPSEs play a critical role in the Indian economy. They influence the growth in the economy and are affected by the overall growth in the economy. Public sector undertakings have laid a strong foundation for the industrial development of the country. However, the Government of India has initiated the disinvestment process in ONGC during the year 2011-12. As such, it is proposed in this paper to analyse the operating and financial performance of the company during the pre and post disinvestment period.