Privatization includes

Privatization is a broad economic process involving the transfer of ownership, management, and control of public sector enterprises to the private sector. It manifests in several forms: first, the outright sale of public enterprises or their assets to private entities [5]. Second, it includes disinvestment, which is the sale or liquidation of government equity in public sector enterprises (CPSEs) to private investors or the public market [1]. Third, privatization encompasses the participation of the private sector in the management and operation of public utilities through contracts, franchises, or joint management arrangements [5]. This shift aims to improve efficiency, infuse private capital, and introduce best management practices into previously state-run activities [4]. Therefore, all three listed methods—asset sales, equity disinvestment, and management participation—are recognized components of the privatization process.

Sources

1. [4] Geography of India ,Majid Husain, (McGrawHill 9th ed.) > Chapter 17: Contemporary Issues > Privatisation > p. 84
2. [5] https://cgfa.ilga.gov/Upload/2006Gov_Privatization_Rprt.pdf
3. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 5: Indian Tax Structure and Public Finance > DISINVESTMENT > p. 106
4. [2] Environment and Ecology, Majid Hussain (Access publishing 3rd ed.) > Chapter 11: Contemporary Socio-Economic Issues > Privatisation > p. 12
5. [3] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > Objectives > p. 106