Should the public sector be privatized?

Hi guys, my name is Rishikesh Raj.

In my point of view, public sector banks should not be fully privatised because public sector banks are more concern on social obligations and less concern on making profit in contrary to this private banks work for only profit that's why private players are showing less interest in opening bank in rural (unbanked) areas and if we privatise all the banks we will be denied part of population from accessing banking facilities. Govt may loose control on their functioning too.

Thank you.

According to me, yes public sector to be privatized for extent but not fully in control with privatization.

Govt have to control it but investment should be done by private bankers.

Public sector should not be fully privatized.

Disinvestment means moving towards privatisation. But India is developing country and have model of mixed economy. In other words, disinvestment means lack of control on that particular product or services which we are using day by day. There must be a balance on both. Whenever there is a presence of government in any sector, the rates are controlled in better way. Private parties are working for profit and they set their goals which are mainly profit oriented, the unit of TATA's are exceptional in this matter. Promoting privatisation by sale of profit-making PSU's shows a short term target of government to generate money which is further used for budget deficit, but it may loose control on rates, which further increase inflation. It is more effective when there is proper balance between private sector and government sector. Nice playfield must be required for growth and development of developing countries like India.

Hello to all.

In my opinion, public sector should be privatized but some areas should remain under the control of government such as pricing and distribution.

From my point of view, India is a mix economy &there is both public and private sector exist. In some of field which should be privatized such as electric distribution which was formally fully public sector thus a lot of issues were producing such as employees not doing well and there was a huge loss but when govt give responsibility of private sector such as Reliance then there will be a better results found and which decreases the losses of electricity. That's all so there are the lot of public sectors which extremely needed to privatize for better executed.

In my point of view, this has two sides. In public sectors people thinks that they are only hired for this post to come in the office and take money. They do not give importance to how much they did part of the job and they are less responsible for their job or anything.

But in private sectors, people are very much concern what they are doing and instead of this they are getting a good amount so they are very much sincere about their work.

In other hands, public sectors are for those people who are unable to pay a good amount to get any thing. They all have no capability to meet this. In our India, the numbers of this type of people are greater than others.

So I think public not to be privatized.

I have two points of views towards the privatization of banks. One is if we privatise the banks it is a possibility that they can't make an enough faith among the people who are living in rural areas and especially in illiterate peoples because they have a presumption that private banks are not their governments banks and it is also possible that private banks first go for their own profit after they think about public services. In another hand, if we privatize the banks it is also good for Indian banking system. We all know that public sector banks are too much loss-making in India and we also know that to have a member of global banking fraternity banks should have followed the basel-3 norms. According to these norms, banks need a defined capital requirement and nowadays it seems difficult to maintain this because of so many NPA's and other adverse consequences in banking. So I think it is the need of the hour to privatize the public sector banks.

Hello friends,

According to my opinion in a country like India where there is so much of corruption due to which we are unable to grow at a fast pace, there is a need of digitization of both public and private sectors so that everything is available only and there should be no chance of exploitation as transparency is a must for each and everything. Those sectors where the government is unable to perform well should collaborate with private sectors to come up with the best solution or give a chance to individuals to show their capabilities.

So motive should be to develop India and improve the welfare of the people whether done by the public, private or both. Believe in make in India and make for India.

The statement leads to a thinking that a public sector which is owned by the government body be privatized, which must never really happen if the economy and stability of a country be sustained. Instead, as everywhere, private players can chip into the business. This is what is happening in sectors that make a balanced, stabilized and profitable output. As far as banks are concerned, a public sector bank is and must be with a sole aim of servicing and helping the citizens of the country economically, profit being the second motto. But this is not the case with private banks whose motto is to make as much profit from the economy.

Recently there is a lot of discussion going on about privatizing railways. This must not be done at any cost just like how the government did for airways because the majority class of people traveling in railways has to be taken into consideration. Indian Railways is supposed to be the largest transporter across long distances for the middle and poor class. The advantage of bringing private competitors into the field is mostly to improve the quality of business with reduced rates. But as far as railways are concerned, bringing a third party only increases the burden on the people who use the service.

I encourage private parties playing on the field but not at the cost of handing over a government-owned system to a private machinery.

It makes me feel bad about converting public to private sectors. Not only in banks all other fields also facing these problems like schools, colleges, and hospitals etc. What have we achieved in making private sectors? We have to pay more money than the required for getting customer friendly environment. We have got a lot of talented people in Govt sectors but they are not properly used. It's the fault of management and government has to take necessary actions on those who don't do their duty properly. It makes no sense in just making everything Private from Public for not Managing the Resources properly and showing the loss percentage. If the Management is good and takes the responsibility all the problems will be solved.

Thanks.