Privatisation in India its benefits and chall...

Privatisation in India its benefits and challenges

Author Name : Dr. Sushila Susaren Hansda

ABSTRACT

Post-independence India has mainly remained a conservative economy that allowed only restricted and conditional entry of the outside world. But now the Indian economists have understood the importance of coming together with the global economy for growth and efficacy. India is a mixed economy where Private and Public Sectors co-exist in leading sectors like Banking, Telecom, Road Transport, Education, Healthcare and Manufacturing, etc.In recent years India has witnessed major economic reforms as there is momentum towards privatization. Privatization can be demarcated as the transfer of state owned enterprises (SOEs) to the private owners. Privatization can address issues like income inequality, inflation, etc. that have been negatively contributing to the growth of India.

Privatization is a burning topic at present, all the more because it is like two sides of a coin. India is reforming slowly towards privatization but the previous unfulfillment of expectations from the reforms has reinforced the critics claim.This research paper explain the benefits and challenges of privatisation in India.

Keywords: privatisation, liberalisation, public sector, economic reforms