Question

Define privatization with its advantages

Answer 1

Privatization is the process of transferring ownership of a business, enterprise, agency, public service or property from the public sector (government) to the private sector or to private non-profit organizations. The term is also used in a quite different sense, to mean government out-sourcing of services to private firms. 
advantage:-

1.Privatization places the risk in the hands of business or private 2.enterprise.Private enterprise is more responsive to customer complaints 3.and innovation.The govt. should not be a player and an umpire.