The transfer of ownership, property or business from government to private sector is termed as Privatisation. The process in which a publicly-traded company is taken over by a few people (Private Company) is also called privatization. The company gives up the name 'limited' and starts using 'private limited' in its last name. Privatization is considered to bring more efficiency and objectivity to the company, something that a government company is not concerned about. Also, it helps in escalating the performance benchmarks of the industry in general. India went for privatization in the historic reforms budget of 1991 , also known as 'New Economic Policy or LPG policy '. Privatization has a positive impact on the financial growth of the sector which was previously state dominated by way of decreasing the deficits and debts. Privatization will give ample space for creative and innovative thinking as well as systematic and strategic planning to realize the