The impact of privatization on indian society?

The impact of privatization on indian society?

By privatization i am assuming you'-re referring to government or state getting out of managing firms and services? Right?I think privatization already has had a great impact. Privatization lends efficiency and better management. It creates jobs faster, i t lends accountability to services, it offers scope for creativity and ultimately enhances lives of the ordinary people.Take for example, our toll roads, or the privatized airports. What the govt could not do in 50 odd years, privatisation did it in just 4-5 years. The result is we have some great highways, and some great airports.Still another example is ports. For example 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.Another great thing privatization does it it speeds up development and hence more jobs are created in shorter time. For example look what has happened in the private FM radio space. The FM radio industry has created so many new jobs for RJs, sound technicians, media sales execs etc. This would not have been possible had it been in the govt realms or had FM not been privatized.Privatization also results in accountability. If someone is not doing a good job yo can kick him out but not the govt. Can you do something about Air India / Indian Airlines??Another great example is 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 revolutionised 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 revolutionised the banking sector, which has impacted our life to a great extent.







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