This article provides information about the overall impact of privatisation on Indian economy:
Domination of trade unions vi. Lack of proper marketing activities. Privatisation has its own advantages and disadvantages Viz: Absence of political interference iii. Use of modern Technology vi. Creation of competitive environment.
Optimum utilisation of resources xi. However, privatisation suffers from the following defects. Abuse of powers by executives. Unequal distribution of wealth and income. Lack of job security for employees.
Privatisation has become inevitable in the present scenario.
But some control should be exercised by the government over private sectors. Changes across Euro and USA: Significant changes have taken place across Euro and USA on account of globalization, particularly in the field of international business politics etc.
Such changes have given rise to change in cultural and social aspects as well. The economy of European countries and US are getting integrated with the global economy. Different arrangements have been made in this regard which are as follows: It is an agreement among a group of countries to abolish all trade restrictions and barriers, in carrying out international trade.
The member countries abolish all the restrictions and barriers and adopt a uniform commercial policy. It was initially formed by six countries viz: It came into existence on 1.
How EEC has 15 members. In order to become a member of EEC, a country must be European country and it must be democratic.
Elimination of custom duties and quantity restrictions on export and import of goods. Devising a common agricultural policy. Devising a common transport policy.
To control disequilibrium in balance of payments.79 Chapter-III IMPACT OF PRIVATISATION, LIBERALISATION AND GLOBALISATION ON PUBLIC SECTOR IN INDIA Privatization is a fuzzy concept. It covers a wide range of ideas, programmes and policies.
IMPACT OF PRIVATIZATION ON INDIAN BANKING SBI enjoys a monopoly of the government business.
SBI was formed under the SBI Act in /5(3). IMPACT OF PRIVATISATION, LIBERALISATION AND GLOBALISATION ON PUBLIC SECTOR IN INDIA Privatization is a fuzzy concept.
It covers a wide range of ideas, programmes and policies. In the broad sense of the term, privatisation is roll-back of the state in the lives and activities of citizen and strengthening the role of markets.
Impact Of Privatization On Indian Economy It frees the resources for a more productive utilization. Private concerns tend to be profit oriented and transparent in their functioning as private owners are always oriented towards making profits and get rid of sacred cows and hitches in conventional bureaucratic management.
Privatization may have a positive impact on a country's economic situation. Privatization should not be used to finance new government expenditures and pay off future debts. Instead, privatization enables countries to pay a portion of their existing debt, thus reducing interest rates and .
This article provides information about the impact of privatisation on Indian economy: Along with the liberalisation of the economy in the s the neo-liberals of the U.K.
and the U.S. also advocated the privatisation of industries and services to make enterprises more competitive and efficient so as to meet the challenges of the global economy.