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Better governance and rules can be a more effective substitute for privatization: Raghuram Rajan

A statement came from Raghuram Rajan, former Governor of Reserve Bank of India (RBI), on privatization. The government might also opt for improved governance and better rules instead of just opting for privatization of public sector undertakings (PSUs). This statement came in the form of a question asked by Rajan during a Panel interaction at the clubhouse on 11 September. “Why don’t we focus on improved governance?”. Rajan said, better governance and better rules can do as much as privatization. While opening the core public undertakings to private sectors, an exemplary approach has been suggested on privatization by Raghuram Rajan as he insists on having adequate regulations to protect the public interest.


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