Question

what do you understand by privatisation?​

Answer 1

Answer:

WHEN THE GOVERNMENT PROPERTIES ARE GIVEN TO PRIVATE INDIVIDUALS OR ARE PRIVATISED UNDER INDIVIDUALS , IS KNOWN AS PRIVATISATION .

Explanation:

Answer 2

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Privatisation means the process of transfering the ownership, control and management of a public sector business, undertaking, industry or property to the private sector. In other words, when a government owned property, business operation or industry is owned by private or non-government party, it is termed as privatisation.

➽ For the economic development of a country, privatisation is an important step. Because it builds a healty competition in the market which is needed for the growth of a country. Also privatisation create job opportunities which help the unemployed people and reduce unemployment problem.

➥ The important features of privatisation are :

(i) It transfer the ownership of public sector undertakings, industries or businesses to private sector.

(ii) It reduce the interference and indulgence of government in the operation and management activities of the undertakings, businesses or industries.

(iii) It promotes better operational and managerial activities to improve the performance of the industries or undertakings.

➥ The main objectives of privatisation are :

(i) To improve the efficiency of public sector undertakings.

(ii) To provide strong momentum to the inflow of FDI.

(iii) To promote market dynamism.