Privatization can stimulated
the process of development
in India.
Answers
Answer:
INCREASE EFFICIENCY AND INNOVATION
Private ownership can stimulate innovation. Competition forces private firms to develop innovative, efficient methods for providing goods and services in order to keep costs down and keep contracts. These incentives, for the most part, do not exist in the public sector.
Development is a process that creates growth, progress, positive change or the addition of physical, economic, environmental, social and demographic components. The process of economic and social transformation that is based on complex cultural and environmental factors and their interactions.
Answer:
In 1991 India made some major policy changes in their economic ideologies. There were stagnation and slow growth in the economy. Everything ranges from the introduction of private capital to selling government-owned assets to transitioning to a private economy.
Explanation:
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