Question

Q13 Define Privatisation as a process of economic reforms.

Answer 1

privatisation means such an economic process through which some public sector undertaking is brought either partially or completely under private ownership.

Broadly speaking, establishing a new enterprise in private sector instead of public sector is also privatisation. Not only this, depriving public sector of the job of production which was earlier reserved for it or transferring its production, without depriving it, to the private sector also amounts to privatisation