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Question
Reducing the role of public sector and increasing the role of private sector falls under ______.
Options
Liberalisation
Privatisation
Globalisation
None of these
MCQ
Fill in the Blanks
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Solution
Reducing the role of public sector and increasing the role of private sector falls under privatisation.
Explanation:
Privatisation involves transferring ownership or management of enterprises from the government to the private sector to promote efficiency and competition, contrasting with liberalisation, which broadly relaxes restrictions on economic activities. Privatisation specifically focuses on reducing state control and enhancing private sector participation.
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