GENERAL KNOWLEDGE

Detailed explanation-1: -In a broad sense, privatisation occurs when the state transfers ownership or control over previously government-owned and-managed operations to the private sector. It has been extensively experimented with by different levels of government, and can take several forms.

Detailed explanation-2: -Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies.

Detailed explanation-3: -Denationalization, also known as privatization, occurs when a national government sells an asset such as a large firm to private investors.

Detailed explanation-4: -Privatization is the process of transferring property from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector.

Detailed explanation-5: -Privatization is gainful for the development and supportability of the state-possessed ventures. Privatization consistently helps keep the buyer needs highest, helps the legislatures pay their obligations, helps in expanding long-term occupations, and advances serious productivity and open market economy.