Privatisation of the Indian Economy

Jaskirat Pratap Singh Walia; Sudhanshu Patel1

1

Publication Date: 2024/08/07

Abstract: An important change from an essentially state- controlled economic structure to one in which private businesses are major players is represented by the privatisation of the Indian economy. This action was taken in the early 1990s as a part of a larger series of economic reforms with the goals of boosting economic development, encouraging competition, and raising productivity. The shift to privatisation affected many important companies, but it also advanced finance and telecommunications, enhanced foreign direct investment, and enhanced service delivery. Nevertheless, there were additional difficulties with the privatisation process, including as opposition from the political establishment, obstacles from regulations, and issues with social fairness. India's economy has profited immensely from privatisation in terms of enhanced market integration, innovation, and economic success despite these obstacles. An overview of the reasons for the privatisation initiatives in India, as well as the procedures, conclusions, and current discussions, are given in this abstract.

Keywords: No Keywords Available

DOI: https://doi.org/10.38124/ijisrt/IJISRT24JUL1020

PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT24JUL1020.pdf

REFERENCES

  1. Privatisation of Airports. (n.d.). https://www.spsairbuz.com/story/?id=892&h=Privatisation-of-Airports#:~:text=Privatisation%20of%20 airports%20in%20India,two%20largest%20in%20the%20country.
  2. Privatisation in India on JSTOR. (n.d.). https://www.jstor.org/stable/4418227?casa_token=iE6z0zBUhLsAAAAA%3AHPz0P-xHwTKHaiGpxZWuUkCMyZsop3H9BGXlNfOUz7uQsNXvDBt_6y2jvGW9TSNBRr_iLF_HPFgI1anzftBNrxCvflQKYuDLVr78rWA5IL5nMcycBGvriA
  3. Bhardwaj, A. (2022, October 21). A Brief History Of Privatisation In India: Policy, Politics and Failures. https://www.outlookindia.com/. https://www.outlookindia.com/national/a-brief-history-of-privatisation-in-india-policy-politics-and-failures-magazine-229654
  4. An Introduction to Privatisation | Economic Reforms in India | RBI Grade-B Exam. (n.d.). https://www.careerlauncher.com/rbi-grade-b/privatisation/
  5. Ahirwar, S. (2022, March 15). Impact of Privatization on Indian Economy. Taxila Business School. https://taxila.in/blog/impact-of-privatization-on-indian-economy/
  6. Munjal, D. (2023, February 9). Explained | The status and proceeds of disinvestment. The Hindu. https://www.thehindu.com/business/Economy/explained-the-status-and-proceeds-of-disinvestment/article 66485958.ece