Question

State with Reasons whether you Agree or Disagree.
Government of India did not take any measures to privatise its economy.

Answer 1

Government of India has taken several measures to privatize its economy. Privatization is one of the objective of the New Economic Policy of 1991. Privatization means transfer of ownership or management of an enterprise from the public sector to the private sector. It includes:

a) Divestiture, or privatization of ownership, through the sales of equity.

b) Denationalization or re-privatization.

c) Contracting- under which government contracts out services to other organizations that produce and deliver them.