Vaibhav Tiwari, School of Law, UPES
ABSTRACT
The word privatization as fancy as it may sound has always helped reviving the Indian economy during its difficult times. As it is evident that during the period of 1991 when India was under a debt of about Rs 70 billion and was on the verge of becoming bankrupt. So the government at that particular time introduced a new economic policy of privatization wherein private companies were shown the front door to enter into the Indian market. This way forward helps the government in reviving the Indian economy to much of an extant. In 1993 Private sectors were allowed in banking which to help in developing and reviving the Indian Banking Structure. Now it is for everyone to see that whenever there has been an introduction of privatisation in a government sector it has always had a positive impact upon that sector wherein there has been a considerable amount of growth in that sector. Now the times have changed it is 2021, so it can be question for consideration that whether bringing in privatisation to prevalent government sector is the need of hour or will it be helpful in reviving or the growth of the sector and also what impact will it have on our economy. Recently the government has announced that it will bring in privatisation in certain which includes ports, Airlines. The recent propaganda wherein the government had introduced 3 farm bills in the parliament wherein the farmers in the country will be allowed to sell their crops anywhere in the country including the private purchasers has sparked an all India controversy and protests all around. So with the help of this paper the author will try to analyse the motive of the government in bringing in privatisation to certain government sectors, the impact which it will have on the Indian economy, what methods are being followed in certain other countries with respect to bringing in privatisation of the specified sectors and lastly deducing upon the impact which it can have on that particular structure.
Keywords: Privatization, Bankrupt, Propaganda, Farm Bills.
