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Economic & Social Issues: Privatisation Video Lecture | NABARD Grade A & Grade B Preparation - Bank Exams

FAQs on Economic & Social Issues: Privatisation Video Lecture - NABARD Grade A & Grade B Preparation - Bank Exams

1. What is privatization, and how does it affect the economy?

Ans. Privatization is the process of transferring ownership of a public enterprise or public service to private individuals or organizations. This shift can lead to increased efficiency, as private entities often operate under competitive market pressures. It can also result in improved services and innovation, as companies seek to attract consumers. However, it may also lead to job losses and reduced access to essential services for lower-income populations.

2. What are the potential benefits of privatizing state-owned enterprises?

Ans. The potential benefits of privatizing state-owned enterprises include enhanced operational efficiency, increased investment, and access to modern technology. Privatization can also reduce government expenditure and improve financial performance, as private companies may be more motivated to cut costs and maximize profits. Additionally, it can stimulate economic growth by fostering competition and attracting foreign investment.

3. What are the common arguments against privatization?

Ans. Common arguments against privatization include concerns about the loss of public accountability and the potential for increased inequality. Critics argue that privatization can lead to monopolies, reduced service quality, and higher prices for consumers. There is also a fear that essential services may be neglected in favor of profit-making, particularly for vulnerable populations who may not afford these services.

4. How does privatization impact employment in the public sector?

Ans. Privatization can lead to significant changes in employment within the public sector. While it may create jobs in the private sector, it often results in job losses in the public sector due to downsizing and restructuring. Additionally, the jobs created may not offer the same stability, benefits, or pay as those in the public sector, leading to concerns regarding job security and worker rights.

5. What role do regulatory frameworks play in the privatization process?

Ans. Regulatory frameworks are crucial in the privatization process as they establish the rules and guidelines for how privatization should occur. Effective regulation ensures fair competition, protects consumer rights, and maintains service quality. It also addresses concerns related to monopoly power and provides mechanisms for accountability, thereby balancing private interests with public welfare.

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Oct 06, 2025 Last updated

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	NABARD Grade A & Grade B Preparation 847 videos\|1297 docs\|420 tests

NABARD Grade A & Grade B Preparation

847 videos|1297 docs|420 tests

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