Let the principles of competition guide privatization4 min read 07 Apr 2021, 09:52 PM IST
Rolling the benefits of both together will help convince people why disinvestment is good for them
In defence of her privatization programme, Margaret Thatcher, the UK’s then prime minister, said it was to reduce the state’s power and enhance that of the people. Contrast this to a statement by finance minister Nirmala Sitharaman, who recently said that the government was selling public sector banks for these businesses to continue. While similar to Prime Minister Narendra Modi’s articulation that the government has no business being in business, the rationale for privatization cannot and should not be limited to economic efficiency. A clear and consistent articulation of the benefits that citizens can expect from the programme can help create a broader consensus for it and overcome unreasonable barriers.
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