Write short note on :Privatisation/Private enterprise

1.	Write short note on :Privatisation/Private enterprise
Answer» Privatisation signifies the process wherein, the government transfers ownership, management, and control of the public sector enterprises to the private sector entities. Allows the private sector to set up industries in the field earlier reserved for the public sector. Privatisation has substantially reduced the role of the government in economic activities. Privatisation is an allied process that accompanies globalisation. Under the process of privatisation, reducing the involvement of the state in economic activities and increasing the involvement of the private sector are expected. The government has been thereby trying to mobilise resources for improving the efficiency of the remaining public sector units. Under the policy of globalisation, various countries have adopted the process of privatisation.

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