Privatisation

noun

/ˌpraɪvətaɪˈzeɪʃən/

The transfer of ownership, management, or control of a business, enterprise, or public service from the government (public sector) to private individuals or corporations.

✍️ Usage in a UPSC answer

The post-1991 wave of privatisation, by transferring loss-making public sector undertakings to private hands, was intended not merely to plug fiscal deficits but to inject competitive efficiency into an economy long hobbled by bureaucratic overreach.

Synonyms

denationalisationdisinvestmentdivestituremarketisationderegulationliberalisation

Antonyms

nationalisationstatisationmunicipalisationcollectivisation

🌱 Word Family

privatise (v), privatised (adj), privatising (v pres.p), privatiser (n), private (adj/n)

🔡 Root

Latin privatus = apart from the state/private; -isation suffix; calque of German Privatisierung

📜 Etymology

A calque of German Privatisierung, from Latin privatus ("apart from the state, private") + -isation; the term entered English in the 1940s and was popularised in the context of post-war economic policy.

🧠 Memory Hook

"Privatisation" hides the word "private" - turning a PRIVATE owner loose on what the state once held. Latin "privatus" = "kept apart from the public", just as a privatised firm is taken apart from public ownership.

🏛️ History & Culture 📖 Seen in: 1991 Economic Reforms & Liberalisation

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