Liberalisation: Liberalisation of the economy means its freedom from direct or physical controls imposed by the government. Privatisation: It is the general process of involving the private sector in the ownership or operation of a state-owned enterprise.
What is the main objective of privatization and liberalization explain?
Objectives of Privatization
Increase the efficiency of government organizations. Provide better and improved goods and services to the consumer. Create healthy competition in the society. Encouraging foreign direct investments (FDI) in India.
one of the major breakthroughs in the privatisation done by India is the privatisation of airports with an aim to increase the airport capacity, efficiency in operations, and find new ways to earn revenue for local and state governments. The main aim is to earn more revenue and reduce costs. The privatisation of airports has also increased the benefits for consumers and job opportunities for many local people. Privatisation has also helped the government to clear its long-standing debts. The airport authority of India has given permission to privatise 13 airports of India including major airports of Bhubaneswar, Raipur, Indore, Varanasi, Trichy and Amritsar. The following airports have already been privatised. Trivandrum International AirportHyderabad International AirportDelhi AirportMumbai AirportCochin International Airport