Question
Globalisation and Privatisation
| Sr. No. | Globalisation | Privatisation |
| (i) | Globalisation refers to “all those processes by which the people of the world are incorporated, into a single world society.” | Privatisation means “transferring of ownership rights from public sector to the private sector”. |
| (ii) | Eliminating the trade barriers, relaxing the FERA/FEMA regulations, and other incentives to the foreign investors. | The policy of disinvestment is adopted to privatise the public sector enterprises. |
| (iii) | Globalisation leads to sharing of resources, goods, and capital across the country. | The public sector enterprises are taken over by the private sector. It enables the country to improve the efficiency of these enterprises. |
| (iv) | It has adversely affected agriculture and is a cause of misery in the rural area. | Their policies lead to an increase in unemployment. |
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