Question

Advantages and disadvantages of new economic policy 1991

Answer 1

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Answer 2

New economic policy 1991 concentrates on the key factors such as globalization, and privatization.

Privatization surely is advantageous for the growth and sustainability of state-owned companies.

The benefits of privatization can be observed from both microeconomics and macroeconomic consequences that privatization exercises.

Privatization brings about fundamental structural modifications rendering momentum in the competitive divisions.

Disadvantages of Privatization;

Private sector concentrates further on value maximization and limited on common purposes, unlike the public division that receives culturally viable arrangements in event of difficulties and practicalities.

There is a shortage of transparency in the particular division and stakeholders do not provide knowledge about the functionality of the initiative.