Privatization involves transferring state-owned assets or services to private sector ownership. It can involve selling state-owned enterprises or assets to private owners, leasing them, forming joint ventures, or offering shares publicly. The objectives of privatization include reducing the government's financial burden, improving efficiency and competition, and funding infrastructure growth, though it may also negatively impact government revenue and labor protections. Examples given include privatized airports and ports in India demonstrating improved efficiency.

1. PRESENTED BY
ATUL GOPAHNE (19)

2. Transfer of government services or
assets to the private sector. State-owned assets
may be sold to private owners, or statutory
restrictions on competition between privately
and publicly owned enterprises may be lifted.
Services formerly provided by government may
be contracted out. The objective is often to
increase government efficiency; implementation
may affect government revenue either positively
or negatively.

3. 1 According to the World Bank,
“Privatization is the transfer of state
owned enterprises(SOEs) to the private sector by
sale(full or partial) of going concern or by the sale of
assets following their liquidation.”
2 Investopedia ,
“The transfer of ownership of property or
businesses from a government to a privately owned
entity.”

4.  Sale of enterprise.
 Lease of entity.
 Joint ventures.
 Public share offers.

5.  To reduce the burden on government.
 To strengthen competition and efficiency.
 To improve public finances.
 To fund infrastructure growth.
 Accountability to customers.
 To reduce unnecessary interference.
 More disciplined labor force.

6.  Ownership to the privileged one.
 Laborers would be at the mercy of the owner.
 Price and ignorance factors.
 Lack of social responsibility.
 Loss of the experienced managerial
expertise.

8.  Airports.
e.g.Delhi, Hydrabad, Mumbai ,..
 Aviation industry in India.
 The Mundra port in Gujarat, a private port, has
become a highly efficient, well managed major
port in just 10 years compared to kandla,
Mumbai working as ports for more than 50
years.

9.  ICICI,
the country's largest private bank. ICICI
is the country's second largest bank after only
SBI. SBI has been in existence for more than 100
years. ICICI Bank on the other hand has been
around only for 12 odd years. ICICI Bank has
revolutionized every aspect of banking be it
commercial, retail, online banking etc. Be it
credit cards, auto loans, home loans, insurance,
ATM etc, ICICI and other private banks have
revolutionized the banking sector, which has
impacted our life to a great extent.