1273561,JASWINDER SINGH,F1,Q-37-SHOULD THE PUBLIC SECTOR BE PRIVATIZED?

Privatization in generic terms refers to the process of transfer of ownership, can be of both permanent or long term lease in nature, of a once upon a time state-owned or public owned property to individuals or groups that intend to utilize it for private benefits and run the entity with the aim of profit maximization. In other words, it is a route from public or state ownership to private players or a group.

INTRODUCTION

PUBLIC SECTOR:

The government's main goal is to satisfy it's citizens in a variety of different ways: better transportation, better national security, better education, as well as allowing for citizens to keep more of their well-earned money. With that said, sometimes the only way to satisfy all these different societal values is to privatize.

PRIVATE SECTOR:

Private-means more effort and sincerity, punctuality, money based on work done. It doesn't provide life security. Good quality at relatively cheaper price. Manufacturing of goods and services will be on time.

Privatization is a managerial approach that has attracted the interest of many categories of people- academicians, politicians, government employees, players of the private sector, and public on the whole. As per the opinion by the subject experts, privatization can be advantageous in terms of the higher flexibility and scope of innovation it offers along with cost savings, many a times. However, other specialists defiantly debate that privatization has an adverse impact on the employee morale and generate fear of dislocation or termination. More likely it also adds on to the apprehensions pertaining to accountability and quality. Experts both advocate and criticize privatization making it more or less a provocative decision that calls for a diligent scrutiny by the decision makers in assessment of pros and cons attached to the concerned policy. In India, privatization has been accepted with a lot of resistance.

DISCUSSION

In my point of view public sector should be privatized.The work efficiency of employees in private sector is much more than that of the public sector organisations.Government Is trying to minimize the corruption. But it is just for a shouting. Practically too much corruption is there in public sector. But in private sector the organization is very much conscious about corruption. So it will be minimized.

The private organization are more eager to implement the advance technologies and trying to increase product value larger.Private sector creates the environment such that the employ learning capacity improves, laziness of employ decreases. So private sector employ become more efficient than public sector. In public sector the good employs learn laziness and become less efficient.Packages are also good in the private sector.So i believe that if any country wants to grow than it should be privatized.

CONCLUSION

I think public and private sectors are necessary for India because improving in economics. Improves the GDP.