Impact of Privatization on the Indian Economy
Privatization, the transfer of ownership and management of enterprises from the public sector to private entities, has been a significant aspect of India’s economic reforms since the early 1990s. This shift was driven by the need to improve efficiency, foster competition, and enhance overall economic growth. This essay delves into the impact of privatization on the Indian economy, examining its benefits, challenges, and the way forward.
Impact of Privatization on the Indian Economy
Privatization, the transfer of ownership and management of enterprises from the public sector to private entities, has been a significant aspect of India’s economic reforms since the early 1990s. This shift was driven by the need to improve efficiency, foster competition, and enhance overall economic growth. This essay delves into the impact of privatization on the Indian economy, examining its benefits, challenges, and the way forward.