Question

State with reasons whether the following statements are True or False.

Privatization is the transformation of public sector into private sector either fully or partially.

Answer 1

Privatization is the transformation of public sector into private sector either fully or partially- True

Explanation:
True. In 1991, the Indian government adopted the privatisation policy, in which government units that were inefficient and making losses were sold off to the private sector to reduce the government’s burden. Some units were sold partially, so that the government could also participate and intervene in running business, while some units were sold wholly.