The document discusses privatization in India. It defines privatization as transferring ownership of public sector businesses and assets to private sector. In 1991, India introduced major economic reforms including privatization to address stagnation and slow growth. Privatization aims to increase efficiency and competition. While it may increase profits and growth, it could also ignore social welfare and increase unemployment. Currently, only a few industries like railways and atomic energy remain reserved for the public sector in India. Privatization measures adopted include selling public sector shares and restructuring sick public units.