ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book contains a review of the concept of privatisation. It aims at an analysis of the rationale of privatisation and outlines the broad range of issues that merit detailed discussion as the seminar progresses. The book concentrates on the concept and broad rationale of privatisation, though at certain points, brief references had to be made to issues that are likely to be picked up for full discussion in later sessions of the Seminar. There are two directions of privatisation which do not automatically reduce the extent of public enterprise in the economy, though, thanks to its own growth, private enterprise tends to occupy a relatively larger share of it. The substance of privatisation through the medium of a joint venture depends on the actual fairness characterising the government’s exercise of ownership rights in management.
