“The soul of religion is one but encased in a multitude of forms. Wise men will ignore the outward crust and see the same soul living inside a variety of crusts.”– Mahatma Gandhi

“At the bottom of all tributes paid to democracy is the little man and woman, walking into a little booth, with that little pencil, making a little cross on paper- no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.”– Winston Churchill

“Literacy in itself is no education. Literacy is not the end of education or even the beginning. By education I mean an all round drawing out of the best in the child and man- body, mind and spirit.” –Mahatma Gandhi

“Deliberation and debate is the way you stir the sole of our democracy.“- Jesse Jackson

“Freedom is not a matter of political decisions or new constitutions…. it is of the mind and heart and if the mind narrows itself and is befogged and heart is full of bitterness and hatred, then freedom is absent.”– Jawahar Lal Nehru

“India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend and the great grandmother of tradition. Our most valuable and most constructive materials in the history of man are treasured of India only.” – Mark Twain

“An investment in knowledge pays the best interest.“- Benjamin Franklin

“You can fool all the people some of the time and some of the people all the time but you cannot fool all the people all the time.” –Abraham Lincoln

“Workers of the world unite, you have nothing to lose but your chains; you have a world to win.” –Karl Marx

“I alone cannot change the world but I can cast a stone alone across the waters to create many ripples.” –Mother Teresa

“Just as a country cannot be ruled by another country, a class cannot be ruled by another class.” –BR Ambedkar

“It is impossible to think about the welfare of the world unless the condition of women is improved. It is impossible for a bird to fly on only one wing.“- Swami Vivekananda

• 

As a arts student your opportunity not limited to Masters in Arts or UPSC and other government exam. Of course they are available for you. Today I will post some more amazing career option which you might not know.

MBA/MMS

Nowadays top B school are focusing on diversities. If your acads are low then the best exam would be MHCET. Many college in Mumbai don’t conduct gd-pi. If you communication skill is poor then you must aim for these mba/mms course(they mostly offer mms) .

CFA

If you are graduate (Final year) you can give CFA 1 exam. Then you will get an internship easily. And it will help you clear interview of Personal interview happens in bschool. In summer internship in mba program CFA certificate definitely help to crack it.

Law

Law give you opportunity to understand our legal system better and indepth. Many law firm recruit law graduate.

The transfer of pollen grains from anther to stigma of a flower is called as pollution.

Importance of pollination

✓It results in fertilization which leads to the formation of fruits and seed.
✓New varieties of plants are formed through new combination of genes in case of cross pollination.

Types of Pollination
✓Self-pollination
✓Cross Pollination

Self-pollination

Self-pollination is also known as autogamy. The transfer of pollen grains from the anther to the stigma of same flower or another flower borne on the same plant is known as self-pollination. E.g. Hibiscus.

Cross Pollination

Cross Pollination is the transfer of pollen from the anthers of a flower to the stigma of a flower on another plant of the same species e.g.apples, grapes, plum, etc.

Agents of Cross Pollination

In order to bring about cross pollination, it is necessary that the pollen should be carried from one flower to another of a different plant.
This takes place through the agency of animals, insects, wind and water.

Pollination by wind

The Pollination with the help of wind is called anemophily. The anemophilous flowers produce enormous amount of pollen grains. The pollen grains are small, smooth, dry and light in weight. Pollen of such plants are blown off at a distance of more than 1,000 km. The stigmas are comparatively large, protruding and sometimes hairy to trap the pollen grains. e.g. Grasses and some cacti.

Pollination by insects

Pollination with the help of insects like honey bees, flies are called entomophily. To attract insects these flowers are brightly coloured, have smell and nectar. The pollen grains are larger in size, the exine is pitted, spiny etc., so they can be adhered firmly on the sticky stigma. Approximately, 80% of the pollination done by the insects is carried by honey bees.

Pollination by water

The pollination with the help of water is called hydrophily. This takes place in aquatic plants.
Pollen grains are produced in large numbers.
Pollen grains float on surface of water till they land on the stigma of female flowers e.g.Hydrilla, Vallisneria.

Pollination by Animals

When pollution takes place with the help of animals, it is called Zoophily. Flowers of such plants attract animals by their bright color, size, scent etc. E.g. sun bird pollinates flowers of Canna, Gladioli, etc., Squirrels pollinate flowers of silk cotton tree.

The Indian National Army (INA) or Azad Hind Fauj was an armed force formed by
Indian nationalists in 1942 in Southeast Asia during World War II.
The aim of the army was to overthrow the British Raj in colonial India, with Japanese
assistance. Initially composed of Indian prisoners of war captured by Japan in her
Malayan campaign and at Singapore, it later drew large numbers of volunteers from
Indian expatriate population in Malaya and Burma.
Initially formed in 1942 immediately after the fall of Singapore under Mohan Singh, the
first INA collapsed in December that year before it was revived under the leadership of
Subhas Chandra Bose in 1943 and proclaimed the army of Bose’s Arzi Hukumat-e- Azad
Hind (The Provisional Government of Free India). This second INA fought along with
the Imperial Japanese Army against the British and Commonwealth forces in the
campaigns in Burma, Imphal and Kohima, and later, against the successful Burma
Campaign of the Allies. The end of the war saw a large number of the troops repatriated
to India where some faced trial for treason and became a galvanising point of the Indian
Independence movement.
After Indian independence, the ex-INA members, with some exceptions, were refused
service in the Indian Army. However, a number of notable members later became
involved in public life in India and in Southeast Asia.
The legacy of the INA is controversial given its associations with Imperial Japan, the
course of Japanese occupations in Burma, Indonesia and other parts of Southeast Asia,
her alliance with Nazi Germany and Fascist Italy, as well as Japanese war crimes and the
alleged complicity of the troops of the INA in these. Also, its relative insignificance in
military terms, its obvious propaganda value to the Japanese, as well as wartime British
Intelligence propaganda of cowardice and stories that associated INA soldiers in
mistreatment of captured Allied troops, to some extent mires the history of the army.
However, after the war, the Red Fort trials of captured INA officers in India provoked
massive public outcries in support of their efforts to fight the Raj, eventually triggering
the Bombay mutiny in the British Indian forces. These events in the twilight of the Raj
are accepted to have played a crucial role in its hasty end.

• 

⭐Osar wild’s ‘The Model Millionaire’ gives a philanthropic (love for charity) view of life through his two characters,Hughie and The Baron.
⭐Hughie was a good looking youth who captivated (attracted) all with his clear profile, get eyes and crisp hair. He succeeded in everything but not in making money. This left him with two disadvantages- as a buoyant (delightful) handsome but ineffectual (worthless) youth ad not able to win hs lady love, Laura Merton’s hand in marriage. Laura’s father, retired Colonel was very frim that Hughie should prove his worth as a professional. Hughie should have ten thousand pounds of his own before he talked of engagement. Hughie could not forgive himself for his inability to do what the colonel wanted.

• 

⭐On his way to Holland Park one morning, he called on his friend, Alan Trevor, a painter. Trevor was quite unlike Hughie. He had a freckled face with a red ragged beard. But with his brush,he could produce portraits(sketches) that fetched him a good price.
⭐ Hughie found Trevor was about the finish a life-size portrait of a beggar. The model was standing looking pathetic (pitiable) in a corner of the studio on a platform.
⭐The beggar stood leaning on a rough stick with a coarse brown cloak flung on hisshoulders, a pair of petched boots and a hat held out as if asking for alms(charity). The cloak and the hat were battered and tattered (worn-out). His wrinkled old face and parched dry skin would have wrung (to cause great distress) any body’s heart.

• 

⭐ Hughie commented that it was sad that the model earned only a shilling for every hour and the painter earned a fortune for the painting.
⭐Just then Travor was called as the frame-maker had come to see him. Trevor told Hughie not to leave till his return.
⭐Hughie could not help feeling sorry for the begger who was resting on a ench during Travor’s abanse. He Haggard (miserable) appearane and forlorn (lonely, forsaken) expression touched Hughie. He found some Copper coins and a sovereign in his packet. He slipped the sovereign into the beggar’s hands and the man(the beggar) expressed his gratitude.

• 

⭐Hughie left after Trevor returned.
⭐The following day,at Trevor’s place, Hughie was surprised to hear that the model was very much interested to know everything about him. But Hughie was not very happy when he heard that Travor had revealed Hughie’s financial (money) status. He told Hughie that the beggar was his friend, Baron Hausberg ,one of the richest men in Europe.
⭐ Learning the true identity of the beggar Hughie felt embarrassed that he had given him a sovereign out of pity. It made Trevor burst into laughter. Also it explained the model’s interested in Hughie.

• 

⭐The following morning, Hughie had a visitor from Baron Hausberg. Hughie stammered (stuttered) out his apologies (sorry). A letter was handed over to him with the words “A wedding present to Hugh Erakine- Hughie and Laura — from an ‘old beggar’. Hughie was surprised to find a cheque for ten thousand pounds — the Money he had to show to Laura’s father.”
⭐When his friend Travor heard of this, he remarked :-“Millionaires model are rare enough— Model Millionaires are rarer still !“

• 

⭐ According to Alan Travor, a millionaire used to o dress richly and luxuriously and would seldom pose as a beggar for a portrait. But in Hughie’s case, a millionaire who could be referred as a model (an example) of magnanimity (generosity) was extremely uncommon. To pay the price of ten thousand pounds in exchange for a sovereign (all that Hughie had, then) showed the good – heart of a rich man.

❣Oscar Wilde’s short stories always have surprised end, ad also convey some philosophy of life.❣

• 

After the devastation caused by first wave in 2020, Coronavirus cases rose sharply in April and May 2021 causing the Second Wave. While Government and Industry thought that they had gained control of the situation by January 2021, the second wave found us wanting for basic necessities such as oxygen and medical supplies. It appears that the second wave is on its way out with daily cases coming down from the peaks of 4 lakh cases in April 2021, but we have lost almost 4.0 lakh lives to COVID-19. With the hope that the situation will improve in coming months, a SBI report predicts third wave in August-September, 2021.

Lower GDP Growth
In the wake of Second Wave of Covid 19, many economists and ratings agencies have lowered their FY22 GDP forecast for India in just a matter of months. While India’s March quarter (Q4FY21) GDP growth improved, economists believe that the gains have been eroded by the second wave of the pandemic. In June, the State Bank of India (SBI) slashed the country FY22 growth forecast to 7.9 per cent from the earlier 10.4 per cent. 

Rise in Unemployment hits Poor Households
Rising unemployment has emerged as the biggest economic concern during the second Covid-19 wave as it has mostly affected the poorer sections of society. Data suggests that the pace of employment increased sharply in May as smaller firms cut jobs at the fast pace. Think tank Centre for Monitoring Indian Economy had confirmed that one crore Indians have lost jobs during the second wave and the numbers are still rising. 

Weak Consumer Demand Hits Industry
Lack of demand and poor consumer sentiments during the second wave are factors that will significantly make India’s economic recovery harder. Consumers are not in a mood to spend freely after second wave, given the health and financial emergencies that shocked the households. The combination of slow demand growth and lack of consumer confidence could significantly derail the economy as people are likely to remain hesitant for a longer period before they start spending on discretionary items.

Loan Defaults on Rise
This negative impact is evident in the official data on rising loan defaults and cheque bounces. All Banks have reported a rise in loan defaults and cheque bounces during the second wave. It is a clear sign that middle class Indians are struggling to manage debts and liabilities. Cheque bounces rate for loan repayments have doubled to over 20 per cent from the year-ago period while credit card defaults rose to 18 per cent, says a Reuters report. Many banks have indicated that retail loan defaults are likely to rise in the coming months. HDFC Bank’s CEO Sashidhar Jagdishan recently stated during an investor call that the bank may not have a “grip of what is happening for the first time in so many years.”

Rural India Hit Hard
The second wave has seen stricter and longer lockdowns in the rural parts of the country too. Most APMC Mandis were closed for operations at the peak of Second Wave. Due to the closure of Mandis, vegetable vendors, and processing industries have also been hit. The average wage growth for the agriculture sector for the period of November 2020 to March 2021 has reduced to 2.9 percent (2nd wave) from 8.5 percent in April to August 2020 (1st wave).

Government Takes Steps

Government of India has taken many steps to support the Indian economy and industry. Here are the key steps:

• In March 2020, the Government announced a Rs 1.70 lakh crore-Pradhan Mantri Garib Kalyan Yojana (PMGKP) to protect the poor and vulnerable from the impact of the pandemic.
• In 2020, the Union government released the ‘Aatmanirbhar Bharat’ package to boost the economy and the overall stimulus was estimated to be worth around Rs 27.1 lakh crore.
• Government and the RBI also came out with a series of packages in a phased manner totalling around Rs 30 lakh crore, which is 15 per cent of the national GDP.
• To boost consumption during the festival season, in October 2020, Government announced measures that were worth close to Rs 73,000 crore to stimulate consumer spending.
• Aatmanirbhar Bharat Abhiyaan 3.0 unveiled in November 2020, ahead of Diwali, was worth Rs 2.65 lakh crore. Of the total amount, the maximum of Rs 1.45 lakh crore was allocated to give a boost to manufacturing activites.
• In June 2021, Finance Minister Nirmala Sitharaman announced some fresh relief measures for the economy, the first such package after the second COVID-19 wave, focusing largely on extending loan guarantees and concessional credit for pandemic-hit sectors and investments to ramp up healthcare capacities. The government pegged the total financial implications of the package, which included some changes earlier supports, at ₹6,28,993 crore. Ms. Sitharaman announced an expansion of the existing Emergency Credit Line Guarantee Scheme (ECLGS) by ₹1.5 lakh crore. She also announced a new ₹7,500 crore scheme to guarantee loans upto ₹1.25 lakh to small borrowers through micro-finance institutions.

COVID-19 Vaccination in India
On 16 January 2021 India started its national vaccination programme against the COVID-19 pandemic. The drive initially prioritises healthcare and frontline workers, and then those over the age of 60, and then those over the age of 45 and suffering from certain comorbidities.

A new policy for Covid-19 vaccination in India come into effect on June 21. Prime Minister Narendra Modi had said India will shift to centralised procurement of vaccines, after several states faced difficulties in procuring and managing the funding of vaccines. Centre will directly procure 75 per cent of the doses manufactured by vaccine companies, and distribute this among the states, to be administered for free. Private hospitals will have exclusive access to the remaining 25 per cent.  

India’s Third Covid-19 Wave from August, Peak in September: SBI

Unfortunately, it looks like that Coronavirus pandemic is not over yet. India is expected to see the Third Wave of the Coronavirus Pandemic from August 2021 and it would reach its peak in September, a report by the State Bank of India (SBI) has projected. “Going by the current data, India can experience daily Covid-19 cases around 10,000 somewhere around the second week of July. However, the cases can start rising by the second fortnight of August,” the SBI report said. An SBI report, published in June, said a possible second wave could be “as severe as second,” though it also said the number of coronavirus related fatalities would be less than the corresponding figures due to the second wave.

COVID 19 – India to emerge stronger
While there is a short-term negative impact on India, economists are of the opinion that the disruption caused by the virus in China could pave way for more long term foreign investments in emerging economies like India as the world looks to reduce dependency on China, the largest manufacturing hub in the world. Experts feel that India has a good chance of becoming an attractive manufacturing hub given the present situation, provided the government changes some of its trade policies to bring down commodity prices. An example of Vietnam, which has gained a huge growth boost due to higher density of electronics manufacturing, is before everyone.

According to the Chief Economic Advisor of India, Krishnamurthy Subramanian the coronavirus outbreak in China provides an opportunity for India to expand exports. India is one of China’s leading trade partners in Asia and has a huge trade deficit with that country. Sharing his views at IIM Calcutta, Subramanian said, “The coronavirus outbreak in China provides a good opportunity to India to expand trade and follow an export-driven model.”  He said that China imports a lot of components, parts, assembles and integrates and then exports them. “India has been following the same pattern in terms of mobile manufacturing in the country. So, if one looks from this perspective, it provides a good opportunity for India.” said Subramanian
 

Several reforms passed by Parliament since the pandemic set in, could lift medium-term growth prospects, including the Agricultural Reforms to give farmers more flexibility over where to sell their produce, it said. Stripping out middlemen, as the reform allows, could improve farmer incomes while reducing consumer prices.

Parliament has also passed Labour Reforms. Their intent, among other things, is to improve worker access to social security notably in the large unorganised sector, strengthen occupational safety requirements, speed up the resolution of labour disputes and ease migrant workers’ ability to move between states. In addition, employers will now only need prior state government approval for redundancies if they have over 300 workers, up from 100 previously, and state governments may raise this threshold. “These changes could support formalisation of India’s labour market and improve its flexibility, with positive efficiency gains, but our assumption is that in practice their impact will be modest,” experts added.

The government also intends to privatise some state-owned enterprises, of which more than 200 are owned by the central government and 800 by state governments. A wide-ranging privatisation push could be transformative, it said. Fitch said the process of reforms in India remains especially complex and implementation at times has proven difficult.  

Let’s start with some numbers that prove India’s global stature.

1. Indian pharmaceutical sector supplies over 50% of the global demand for various vaccines, 40% of the generic demand for US and 25% of all medicines for UK.
2. India contributes the second largest share of pharmaceutical and biotech workforce in the world.
3. India’s domestic pharmaceutical market turnover reached Rs. 1.4 lakh crore (US$ 20.03 billion) in 2019, up 9.8% y-o-y from Rs. 1.29 lakh crore (US$ 18.12 billion) in 2018. In May 2020, pharmaceutical sales grew 9% y-o-y to Rs. 10,342 crore (US$ 1.47 billion).
4. Indian drugs are exported to more than 200 countries in the world, with US being the key market. Generic drugs account for 20% of the global export in terms of volume, making the country the largest provider of generic medicines globally.
5. The Indian pharmaceutical exports, including bulk drugs, intermediates, drug formulations, biologicals, Ayush & herbal products and surgical, reached US$ 16.28 billion in FY20. As of October 2020, India exported pharmaceuticals worth US$ 13.87 billion in FY21.
6. Pharmaceutical exports from India stood at US$ 16.28 billion in FY20 and US$ 2.07 billion in October 2020.
7. Medical devices industry in India has been growing 15.2% annually and is expected to reach US$ 8.16 billion by 2020 and US$ 25 billion by 2025.

Government’s Pharma Vision
The Union Cabinet has given its nod for the amendment of existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100% under the automatic route for manufacturing of medical devices subject to certain conditions.

The drugs and pharmaceuticals sector attracted cumulative FDI inflow worth US$ 16.86 billion between April 2000 and September 2020 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).

Some of the recent developments/investments in the Indian pharmaceutical sector are as follows:

1. In December 2020, Piramal Pharma Solutions announced plans to invest Rs. 235 crore (US$ 32 million) to expand its facility in Michigan, US, with additional capacity and new capabilities for development and manufacturing of active pharmaceutical ingredients (APIs).
2. In November 2020, Indian Immunologicals (IIL) commenced work on Rs. 75 crore (US$ 10.17 million) viral antigen manufacturing facility in Genome Valley, Telangana, that will enhance its vaccine production capacity by 35% by October 2021.
3. In November 2020, the Indian Institute of Technology (IIT) Bombay has stepped up research and development (R&D) amid COVID-19 and researchers are developing products such as a portable sterilisation device and germicidal cabinet; wheeled sterilisation unit, especially for hospitals; portable and rechargeable car sanitiser; eco-friendly sprays, and alcohol-free and bleach-free sanitisers.
4. In October 2020, six generic drug makers–Dr. Reddy’s Laboratories, Zydus Cadila, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, Hetero Drugs and Ackerman Pharma signed a deal with Hidalgo,a state in Mexico, to establish a large pharmaceutical cluster for production and logistics in Mexico.
5. In October 2020, Aurobindo Pharma acquired MViyeS Pharma Ventures for Rs. 274.22 crore (US$ 37.30 million).
6. In May 2020, Jubilant Generics Ltd entered into a non-exclusive licencing agreement with US-based Gilead Sciences Inc to manufacture and sell the potential COVID-19 drug Remdesivir in 127 countries, including India.
7. Affordable medicines under Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) achieved record sales turnover of Rs 52 crore (US$ 7.38 million) in the month of April 2020.
8. During December 2019, on moving annual total (MAT) basis, industry growth was at 9.8%, with price growth at 5.3%, new product growth at 2.7%, while volume growth at 2% y-o-y.
9. In October 2019, Telangana Government proposed Hyderabad Pharma City with financial assistance from the Central government of Rs 3,418 crore (US$ 489 million).
10. In September 2020, the government announced production linked incentive (PLI) scheme for the pharmaceutical industry worth Rs. 15,000 crore (US$ 2.04 billion).
11. Under Budget 2020-21, Rs. 65,012 crore (US$ 9.30 billion) has been allocated to the Ministry of Health and Family Welfare is. The Government has allocated Rs. 34,115 crore (US$ 4.88 billion) towards the National Health Mission under which rural and urban people will get benefited.
12. Government of India unveiled ‘Pharma Vision 2020’ to make India a global leader in end-to-end drug manufacture. Approval time for new facilities has been reduced to boost investment.

Indeed, above achievements are commendable for Indian pharma sector. However, there has been criticism too. 

From the ‘pharmacy of the world’ to the ‘epicentre of the coronavirus pandemic’,

From the ‘pharmacy of the world’ to the ‘epicentre of the coronavirus pandemic’, India’s fall has been swift and dramatic. Newspapers across the world have criticised India as the second wave of the pandemic unfolds.

During the first wave in 2020, India was better off than countries such as Italy, the United States, and Brazil. India’s handling of the pandemic in 2020 won praise and was a pleasant surprise. Thanks partly to a strict lockdown and perhaps because of its demographic advantage, India managed much better than even developed countries. India played true to its strength as the ‘pharmacy of the world’, sending medicines and vaccines to many countries, thus winning goodwill and praise globally.

However, the second wave of the pandemic in 2021 has caught India unawares. The epic proportion of the tragedy has affected India’s international reputation at several levels.

First, the second wave has exposed the limitations of our health infrastructure (the result of years of inadequate allocation by successive governments), raising questions about the domestic capabilities. India spends just over 1 percent of its GDP on public health, a far cry from the 16 percent spent by the US and 10 percent by Japan, Canada, France, Germany, and Switzerland.

Second, questions are being asked about the advisability of sending vaccines and medicines abroad without ensuring domestic supplies first. Third, with India putting restrictions on exports of vaccines and medicines, other countries may face shortfalls in their supplies and could accuse India of being an undependable supplier. German Chancellor Angela Merkel’s rather un-empathetic statement that the European Union ‘allowed’ India to become such a large pharmaceutical producer and her concern about what could happen if supplies do not reach the West reflects the unhappiness of countries which have relied on Indian supplies.

Finally, the longest-term damage to India’s reputation will depend on how badly the pandemic affects India’s economy and its potential to provide basic needs to its populace. If it fails to do this, it could say goodbye to its dreams of becoming the next great power. India has already had to accept assistance from abroad despite its 2004 policy of not taking such help.

But some positives amidst all this. Perhaps, it is India’s generosity which has led to the outpouring of help from so many countries with leaders like the US President Joe Biden tweeting that “India was there for us, and we will be there for them” recalling India’s generosity to the US when it was facing a crisis.

Privatization of Public Sector: Key facts
Generally speaking privatization is a way of altering the relationship between the state and the private sector to enhance the role of the private sector in the functioning of the national economy as a whole. Accordingly, privatization broadly means any process that reduces the state’s dominant role in directly owning and running the economic activities of a nation. Many countries like China with state controlled economies have gone far enough to open the doors of economies to invite private players to achieve faster growth rate.  The craze for privatization has risen manifold after the ideological defeat and disintegration of the state controlled economy of the socialist bloc.

In a country like India, Privatization in today’s concept is seen as a means of increasing output, improving quality, reducing unit costs, curbing public spending and raising cash to reduce public debt. 

Privatization of Public Sector: Need of the Hour
As PM Modi says, Privatization is the need of the hour. As the world economy tends to become one global village, privatization as a policy norm seems to override political compulsions as an instrument for achieving competitive efficiency and resource optimization.

Privatization is beneficial for the growth and sustainability of the state-owned enterprises. Following the trend of privatization across the world, the Indian government in the 1990s also introduced privatization amid hue and cry from many of the political and social groups.

To achieve an increase in the output of the country there is a need for privatization at a rapid scale which will help in improving quality of the products by reducing unit costs, curbing public spending and raising cash to reduce public debt.

Privatisation always helps in keeping the consumer needs uppermost, it helps the governments pay their debts, it helps in increasing long-term jobs and promotes competitive efficiency and open market economy. In a rapidly rising economy like India there is a need for the government to realign its priorities in mobilizing the skills and resources of the private sector in the larger task of the development.

Nowadays privatization is being seen as a solution towards the problems of public enterprises as these enterprises on being transferred from the public to the private hands will become less politicized which as a result will help in ceasing the administrative corruption. It will also help n increasing the tax revenues from profits   and strengthening the public treasury.  The advantages of privatization can be perceived from both microeconomic and macroeconomic impacts that privatization exerts.

Indian economy has a tremendous potential for growth. The economy which used to rise at 3-4% of GDP had steadily registered rising growth from 7 to 9 percent after introduction of reforms.

Privatization will give ample space for creative and innovative thinking as well as systematic and strategic planning to realize the full potential of economy 

Privatization: Adverse Impact
However, some economists point to the adverse effect of privatization. They offer following arguments:

• No Welfare State: The concept of welfare state may get defeated with the Privatization of economy. Private sector would not care about the society as its main objective is to earn profits.
• Less Social Development: Government or Public sector companies also keep doing social work simultaneously. In case privatization happens, it will result in fewer funds for society because private companies have no obligation to do social work.
• Unemployment: Privatization will also result in retrenchment of employees. In private sector enterprises there is emphasis on performance which indirectly results in work pressure and meeting deadlines or targets and individuals who have been doing work for years without much pressure find it difficult to adjust to new setting and many end up resigning from their service.
• Long Term Risk: Risk of short term gains is prominent in private companies. There are decisions to start ventures which result in short term benefits but may not be good for long term.