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Growing Trends of Privatization: Overview and 10 Important Points | Education

Growing Trends of Privatization: Overview and 10 Important Points
Growing Trends of Privatization: Overview and 10 Important Points 

Privatization Growing Trends: A Quick Overview and Ten Key Points

Every one of us is aware of the news about India's privatisation of several sectors. The Indian government has begun selling several governmental firms at a rapid rate, boosting the concept of privatisation in the country. Have you ever considered why the country is undergoing privatisation? What is the point of privatising various government sectors around the country? How would this concept assist the citizens and the economy of the country? We have significant concerns about the privatisation (Growing Trends of Privatization) that is taking place in several areas of government.

10 Important Points On Growing Trends  Of Privatization

1) Privatization is the process of transferring public-sector supervision and operation to the private sector.

2) In the 1930s, the worldwide weekly newspaper "The Economist" coined the term "Privatization."

3) Privatization diminishes the government's job responsibilities.

4) A large number of government sectors have been privatised.

5) Many countries have witnessed privatisation in recent years.

6) The private sector has its own set of laws and regulations.

7) Market competitiveness increases as a result of privatisation.

8) Privatization would be advantageous to the wealthy.

9) Privatization aids in a country's progress.

10) While privatisation is beneficial to rich countries, it is not beneficial to all developing countries.

Courtesy: Kunal Thakur, Direct News 99