Explain the concept of privatisation. What measures of privatisation have been adopted under the new economic policy, 1991?
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- Privatisation implies shedding of the ownership or management of a government owned enterprise.
- The main aim of privatisation is to improve the financial discipline and facilitate modernisation.
- The government felt that privatisation could provide impetus to the inflow of FDI.
- The government has also tried to improve the efficiency of PSU's by giving them autonomy in taking managerial decisions. Some of PSU's have been given special status as maharatanas, navratatnas and miniratnas.
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