Question

Why had the government to divert itself towards ' privatizatin '​

Answer 1

Answer:

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Explanation:

Transfer of Ownership

Government companies can be converted into private companies in two ways :

By withdrawal of the government from ownership and management of public sector companies.

By outright sale of public sector companies.

Disinvestment  

Privatization of the public sector undertakings by selling off part of the equity of PSUs to the private sector is known as disinvestment.

The purpose of the sale is mainly to improve financial discipline and facilitate modernization.