In this chapter, we study in depth the concept of privatization, the rationale, primary objectives of privatization, expected benefits of privatization, methods of privatization in India, the Rangarajan committee and its recommendations, and finally, the disinvestment in the public sector. The study of these will give you a fairly clear idea of the need for and the manner of privatization that is taking place in India.

Several countries in the world—both the industrial and market-driven economies of the West and the developing countries of Asia, Africa and Latin America, along with the former socialist economies—have launched massive privatization programmes due to their own reasons. The member ...

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