Tuesday 10 January 2023

By: Asst. Prof. Navdeep Kaur (Department of Commerce)

 Privatization

After independence, India adopted mixed pattern of economy where both public and private sector

will play their role in the economic development of the country. But greater stress was placed upon

public sector as they have to play dominating and commanding role. The reasons were ,the private

sectors have limited capital to invest in long run fruit giving investments.. At the same time to

ensure justice and equity for the economically weaker sections ,the public sector was to work on

socio economic objectives of thee Government. But due to Globalization and Liberalization, the role

of government in economic activities is being reduced since 1991 and public sectors were

privatized.Privatization

After independence, India adopted mixed pattern of economy where both public and private sector

will play their role in the economic development of the country. But greater stress was placed upon

public sector as they have to play dominating and commanding role. The reasons were ,the private

sectors have limited capital to invest in long run fruit giving investments.. At the same time to

ensure justice and equity for the economically weaker sections ,the public sector was to work on

socio economic objectives of thee Government. But due to Globalization and Liberalization, the role

of government in economic activities is being reduced since 1991 and public sectors were

privatized.

Privatization is transfer of activities ,properties or capital from public to private hands. It refers to

denationalization of government run industries. After Privatization the government loose their

control over public activities.

The case for privatization has been based on a number of reasons

 Greater efficiency

 Bureaucracy and lack of initiative in public enterprises

 Accountability

 Quality of products

 Wider customer based

 Specialization

 Capital

Privatization is transfer of activities ,properties or capital from public to private hands. It refers to

denationalization of government run industries. After Privatization the government loose their

control over public activities.

The case for privatization has been based on a number of reasons

 Greater efficiency

 Bureaucracy and lack of initiative in public enterprises

 Accountability

 Quality of products

 Wider customer based

 Specialization

 Capital

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