This book is a comprehensive work which incisively analyses, from a theoretically informed perspective, crucial aspects of India’s journey from partial divestiture to privatisation, accompanied by case studies of enterprises being privatised in FY 2022.
Naib begins with the economic role of the state followed by theoretical and empirical evidence on the state versus private ownership in the first two chapters. Next, an overview of public sector in India including the New Public Sector Enterprise Policy for Atmanirbhar Bharat-2021 is discussed, before a broader examination of the global experience with privatisation is done. Naib then goes on to explore India’s journey from partial divestiture to privatisation from 1991 to 2021 in four time slots based on the political party in power. The book also looks at big ticket privatisation and asset monetisation proposed in FY 2022. Many criticised the design of National Monetisation Plan as it may lead to concentration of wealth, increasing inequalities, asset stripping, and consumers paying higher charges. The book closes by presenting six instances of big-ticket privatisations ranging from airlines, airports, banks, insurance, as well as industries such as petroleum and telecoms.
The book’s timely data and analysis of key developments will interest researchers in the fields of divestiture and privatisation in India.
1 The economic role of the state. 2 Does ownership matter? 3 The public sector in India. 4 The global experience with privatisation. 5 India’s journey from partial divestiture to privatisation: 1991–2021. 6 Big ticket privatisation and asset monetisation proposed in Fiscal 2022. 7 Privatisation of Air India. 8 Privatisation of Bharat Petroleum Corporation Limited (BPCL). 9 Privatisation of airports. 10 Privatisation of banks. 11 IPO of life insurance company and privatisation of a general insurance company. 12 Telecom sector – BSNL and MTNL.
Biography
Sudhir Naib, former Director and Emeritus Professor, Bharatiya Vidya Bhawan’s Usha & Lakshmi Mittal Institute of Management, New Delhi, has authored three books published by Oxford University Press and Sage. He has authored research articles in Economic & Political Weekly, and many case studies published in Ivey Publishing, Emerald Emerging Markets Case Studies, Asian Journal of Management Cases, Case Centre, and India Case Research Centre.
"The book presents a detailed chronological timeline of privatisation in the country. It details each era’s hits and misses, keeping the politics at bay and focusing on a bird’s eye view of the economy. It will certainly find a place for itself in libraries and study centres as a handy reference for economics students looking for an accurate chronological view of privatisation and privatisation attempts in the country."
Ishaan Gera, Business Standard Newspaper, India
