Privatization - is the incidence or process of transferring ownership of business from the public sector (government) to the private sector (business).
The private sector is more efficient than the public sector.
The benefits of privatization include:
-better quality products
-lower priced products
-more efficient firms which have lower costs
-makes costs lower for other firms who use the product the privatized firm produces
-this increases employment and incomes across the economy
-Government no longer needs to subsidize product
-Government makes revenue from asset sale to spend on health, education etc
-Promotes technological advancement, again creating jobs and growing incomes
Globalization- Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology
Globalization:
-Allows specialization, so countries can produce more goods more efficiently, increasing incomes and lowering prices/costs
-Countries can produce what they are best at and trade it for goods other countries can produce well, allowing both countries to benefit
-Countries which have a low savings level can borrow money from overseas to invest, thus increasing their incomes and jobs
-Countries which have a high savings level and don't know what to do with it can invest it in other countries and earn a return
-It makes technology improvements flow between countries, so all countries can reep the benefits of improved technology, by increasing incomes and jobs
-It allows people to migrate between countries, increasing labour force mobility. This leads to higher efficiency as people can move to the jobs they do best. This means higher incomes for all and increased jobs.
-Globalisation increases competition, making firms more efficient
-Globalisation allows outsourcing, which is beneficial as people can do the same job for less money elsewhere, and the people who did the job originally can get a job they are actually good at
-Globalisation puts downward pressure on inflation
-Promotes technological advancement, again creating jobs and growing incomes
Liberalisation- a relaxation of previous government restrictions, usually in areas of social or economic policy
Benefits:
-Promotes competition, which leads to lower costs and prices for consumers
-Competition promotes efficiency, so resources are wasted much much less
-Liberalization allows financial markets to provide loans to people who previously may not have been able to access loans that they can pay off, and it allows more financial instruments to be developed so people can choose the one that suits them
-Liberalization removes government regulations on the economy, which promotes jobs, lower prices, higher incomes and lowers inflation
-Promotes technological advancement, again creating jobs and growing incomes
By-Afzalkhan v. Rathod
Shree J.M patel inst.of social work,Anand
(Master of Social work)
because it creates emplyoyment more opportunity, more funds to the govt, security for both life & non life insurance, more speeder and faster expansion rather than what lic could not achieve from the past 55yrs(market coverage).
Opportunities
1.
Privatization of Insurance eliminated the monopolistic business of Life Insurance Corporation of India. It helps to introduce new range of products which covered wide range of risks.
2.
It resulted in better customer services and help improve the variety and price of insurance products.
3.
The entry of new player has speed up the spread of both life and general insurance. It will increase the insurance penetration and measure of density.
4.
Entry of private players will ensure the mobilization of funds that can be utilized for the purpose of infrastructure development.
5.
The participation of commercial banks into insurance business helped to mobilization of funds from the rural areas because of the availability of vast branches of the banks.
6.
Most important not the least tremendous employment opportunities were created in the field of insurance which is a burning problem of the presence day today issues.
impact of privatisation in India is very high
privatizatio of education in india
1991 is the year when indian goverment actually thought for privatization through its liberalization policy.
There is no impact.
India has no unique basic formal education system preliminary basis
it is a need for revolutionary approach towards privatization
I am from India and I studied there 11 years before moving to North America. If I were to compare the education in India and US, I would say that education in India is EXTREMELY hard (Mathematics and Sciences, only). They will BURN you in Mathematics and Sciences badly. All other courses in India are very easy.
Christopher Green has written: 'The privatization of state education' -- subject(s): Education and state, Educational change, Privatization in education
Discuss the context of privatization in the context of current
Discuss the context of privatization in the context of current
There are many advantages of privatization of education including being able to supply children with more individual care. One disadvantage is that it is not available to everyone.
Privatization has both advantages and disadvantages. It can be better working as advantage but can be more hectic as disadvantage.
1991 is the year when indian goverment actually thought for privatization through its liberalization policy.
Blame Ghandi.
Anna Cecile Scantland has written: 'Resignation (Shikataganai)' -- subject(s): Japanese, Fiction 'Education privatization' -- subject(s): Privatization in education, Private schools, Economic aspects of Education, Education, Economic aspects, Education and state
Look in your Geography Textbook to find out.
Privatization means shifting of public ownership to private or personal. Before privatization came into being in India...Everything was under government control. Every sector, every field was under public ownership. As time passed by the country started to grow..started to develop even more...and that was a load that was sort of getting heavier on the shoulders of our the then government. It was getting difficult for the Indian Government to handle and maintain the smooth functioning. Hence inorder to curb that the government allowed privatization to be started in India
The privatization and liberalization of Indian business has created a burgeoning economy. Since restrictions were lessened, a large middle class has grown up in the subcontinent.
what is the management impact on education