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Disinvestment and Privatization of Central Public Sector Enterprises in India: Need and Progress

In: Studies in International Economics and Finance

Author

Listed:
  • Archana R. Dholakia

    (Gujarat University)

  • Ravindra H. Dholakia

    (Former Professor, Indian Institute of Management)

Abstract

The paper discusses the concept of disinvestment and privatization of the central non-departmental public sector enterprises (CPSE) and provides historical background of the divestment program of the Central Government in India. Its achievements and problems in raising additional resources to reduce fiscal stress since the beginning of the economic policy reforms in 1991 are briefly reviewed by considering four distinct phases: a. 1991–2004; b. 2004–2014; c. 2014–2019; and d. 2019–2024. Over these four phases, the divestment proceeds have been accelerating with the ones during the third phase being more than 2.5 times during the second phase. For the fourth phase, five Cs in India—CBI, CBDT, CVC, CAG, and Courts with significant presence of bureaucracy can create effective hurdles as they have done in the past to achieve targets of the divestment program. The paper concludes by pointing out the probable future efficiency gains since it is far easier in India for private to private transfer than for public to private transfer.

Suggested Citation

  • Archana R. Dholakia & Ravindra H. Dholakia, 2022. "Disinvestment and Privatization of Central Public Sector Enterprises in India: Need and Progress," India Studies in Business and Economics, in: Naoyuki Yoshino & Rajendra N. Paramanik & Anoop S. Kumar (ed.), Studies in International Economics and Finance, pages 217-234, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-7062-6_12
    DOI: 10.1007/978-981-16-7062-6_12
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