Question

_________ means permitting the private sector to set up industries which were previously reserved for public sector.

• A. Globalisation
• B. Liberalisation
• C. Public Enterprise
• D. Privatisation

Hint:

Remember: Privatisation → Public to Private control.

Answer 1

The Correct Option is D

Concept: Economic reforms involve changes like liberalisation, privatisation, and globalisation.
Step 1: Understanding privatisation.
Privatisation refers to allowing private sector participation in industries that were previously controlled or reserved for the public sector.
Step 2: Evaluate options.

• Globalisation $\rightarrow$ Integration with global economy (incorrect)
• Liberalisation $\rightarrow$ Removal of restrictions (incorrect)
• Public Enterprise $\rightarrow$ Government-owned business (incorrect)
• Privatisation $\rightarrow$ Private sector participation (correct)

Step 3: Conclusion.
Thus, privatisation means permitting private sector to set up industries previously reserved for public sector.