There is great #progress under @narendramodi @PMOIndia, on the issue of retaining Public Sector only in Strategic Sectors & in limited numbers (1-4), so as to fully benefit from privatization & private competition. 👏👏. I hope all elements are formally approved within a year.
2/pvt Ports, Airports & other "Natural monopolies' have limited competition from similar facilities in 50-75 km radius. Whether they are owned by Govt or privately, they have to be regulated by independent professional regulator(s), to function efficiently in public interest.
3/pvt 3/pvt The strategic privatization policy was spelt out by Finance minister a few months ago. It's very comprehensive. Once approved formally by the Union cabinet and notified, it will be the first major change in Public sector policy since Nehru-Indira. Several specific..4/
4/pvt Several specific steps, such as the new policy on commercial coal mines, pvt train service, defence production & FDI, pvt sector in space..., indicate that the Govt is now taking a comprehensive view of public sector, privatization, private entry into markets & competition.
5/pvt For those who think #Marxian #Sociology is #Economics: "Natural Monoploy" means that it's th only efficient market form & an oligopoly would be inefficient. Thus, only way to balance efficiency with public interest is thru rational regulation based on yrs of Wrld experience
6/pvt and to understand the effect of Govt/Public sector monopoly in multiple dimensions (from 1955 to 1990), read sites.google.com/site/chintan19…
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