Indian economy should be privatized

Portion of the economy composed of all levels of government and government-controlled enterprises is Public Sector. The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. I am in favour of privatization of Indian economy. I’ll tell you why.

The main purpose of Private company is to make money and for that they need to provide best services to the consumer whereas public sector is too much driven to political agenda and elections.

It’s an fact that in India you always get best services at private places because they have huge number of competitors. The services of public company is disgusting and their employees are lazy due to lack of competitors and discipline.

Privatization is a free market economy. In simple words, if airlines is gonna privatized then anyone can open a airlines company in India. And if airlines would privitized then there are many companies in this field. Lots of companies increase competition which means better services at lower price. This will also boost economy.

Privatization may attract more highly-qualified people. The private company’s main motive is to become more successful. That’s why it always it attract a sufficient number of highly-qualified employees, the privatization of companies can make quite a lot of sense.

If we make everything private then the profit is being ended in the hands of a few people, the public isn’t benefited.

The American school system is a great example of it. The US privatized schools with the thinking that privatization makes schools better at a low cost. But the result is the opposite of it. The private schools have increased their costs drastically. Indian private schools have almost the same scenario.

Just think of companies like ONGC and Bharat Petroleum that will privatize. These are the natural resources of our country and if we privatized these and these came into the wrong hand it drastically affects our country.

If we privatized the healthcare sector then hospitals and pharmaceutical industries will increase their price and poor people can’t be able to access these.

If we privatized the defence sector then this industry always wants war for their profit which is not good for global peace.

In the end, if we make our country an open market then a huge amount of money will go to foreign countries.