Define ‘privatization’ as per the 1991 economic reforms and mention any two public sector undertakings that were privatized after 1991.
Answer
Privatization is the transfer of ownership of a state-owned enterprise to private hands; Indian Oil Corporation Limited and Bharat Sanchar Nigam Limited.
Step-by-step solution
- Step 1: Provide a concise definition of privatization in the context of the 1991 reforms – transfer of state ownership to private entities.
- Step 2: Identify two PSUs that underwent privatization post‑1991 – Indian Oil Corporation Limited (partial privatization) and Bharat Sanchar Nigam Limited (partial privatization).
- Step 3: Combine the definition and examples into a single answer sentence.
Common mistake: Omitting the definition or citing PSUs not actually privatized
Concept tested: Privatization definition and examples
Published · How this solution was prepared and checked
← All Economic Reforms Since 1991 questions