Privatisation of the economy:, Microeconomics

Assignment Help:

Privatisation of the Economy:

Privatisation has to be viewed in two ways: In a narrow sense, it implies the induction of private ownership in a public sector undertaking. In a broader sense, it implies the enlargement of the scope of the private sector in the growth of the economy. In the initial phase of development planning in India, more especially after the Industrial Policy of 1956, the socialisation of the economy was measured by the size of the public sector in the national economy. The greater the share of the public sector, the greater was the degree of socialisation of the economy. Under economic reforms after 1991, the main thrust is that the private sector is

considered as the engine of growth. By placing restrictions on the public sector and by reducing its role in several areas where it earlier enjoyed a monopolistic position, the new environment assigned an increasing role for the private sector. Over the years, this was bound to increase the share of the private sector in theeconomy. This is the meaning of privatisation in a broader sense. It is now accepted by one and all that economic reforms are intended to increase the role of the private sector in the process of development and the scope of the public sector will be narrowed down to providing infrastructure like roads, railways, electricity as also in providing social infrastructure in health and education. Even in economic and social infrastructure, the assistance of the private sector will be sought, but major responsibility will be that of the public sector.

 


Related Discussions:- Privatisation of the economy:

Shutdown point, do you agree that according to econmy theory a business wil...

do you agree that according to econmy theory a business will always close if its total reveneu cover total costs

Demand and supply, draw the demand curve,when there is rise in the price of...

draw the demand curve,when there is rise in the price of a product on the demand of the product

Find the equilibrium price and quantity, 1. Assume that the market for whea...

1. Assume that the market for wheat is perfectly competitive. Suppose the demand curve for wheat is given by: QD = 200 – 2P where QD is the quantity demanded, in bushels, and P i

The demand for big macs., illustrate and explain the changing demand for bi...

illustrate and explain the changing demand for big mac using indifference curve and budget line

Discussion perfectly competitive firm, Explain why a perfectly competitive ...

Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as it desires at the current mark

Is economic development is based on goverment, Is economic development is b...

Is economic development is based on goverment Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchis

Fundamental economy problem., how a capitalist system solves the three fund...

how a capitalist system solves the three fundamental economic problems

Consumer behaviour, identify three factors to criticize the theory of consu...

identify three factors to criticize the theory of consumer behavior or utility theory

RESOURCE MARKETS, 1. What is a resource market? 2. Describe resource deman...

1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te

Educational financing, Normal 0 false false false EN-IN...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd