Taxpayers are anxious.

In Germany, Ireland, the United Kingdom, the United States, and

elsewhere, governments have acquired substantial stakes inand in some cases full ownership
ofa number of private firms in efforts to revive economies that were teetering on the edge of
collapse. Yet historically, government ownership of private companies has been notorious for
lowering productivity, wasting resources, and distorting competitionoften as a result of unclear
objectives, political interference, lack of discipline, and poor transparency.1
In Italy, for example, persistent political interference in state-owned companiesincluding
railways, postal service, and public transport, among othershas significantly hampered their
productivity, efficiency, and profitability. One government-owned US rail operator relies on
government support in excess of $1 billion a year to cover its costs, in part because of
government-mandated obligations to serve unprofitable routes. Similarly, the World Bank has
concluded that, in emerging markets, a banking sector dominated by state-owned firms poses a
threat to economic development and stabilityas preferential lending and patronage creates
market distortions and chases away private competitors.
.

private ownership (pravt np)

1. the fact of being owned by a private individual or organization, rather than by the state or
a public body Returning the banks to private ownership would require a
constitutional amendment., the finest Scottish islands in private ownership, Much council
housing is being transferred to private ownership., private ownership of land

Example Sentences Including 'private ownership'

"Most of the houses are in private ownership now, having been bought from the local authority.
Irish Times (2002)
Further, they reasserted the notion that the rights to develop land should be collectivized, even
where land remained in private ownership.
Cloke, Paul J (ed) Rural Land-Use Planning in Developed Nations
He transferred the equipment under the department's control to private ownership.
Mark Burnell CHAMELEON (2002)
In markets where competition is a realistic aim, it ensures smooth transition from public to
private ownership.
Times, Sunday Times (2001)
It could be a model of private ownership of public utilities, except for one minor glitch: it's
illegal.
Business Today (2001)
That would limit private ownership to 49.9 percent of Telstra, keeping the majority in public
hands.
Misc (1999)
The management of a quoted company that moved into private ownership would be startled at
the scrutiny they receive from their new owners.
Times, Sunday Times (2004)

Joint Sector Undertakings:

Joint sector consists of business undertakings wherein the ownership, control and management
are shared jointly by the Government, the private entrepreneurs and the public at large.
According to the guidelines laid down by the Government of India, the share capital of a joint
sector undertaking (without foreign participation) is to be divided as follows: government 26 per
cent, private businessmen 25 per cent and the public 49 per cent.
1. Mixed Ownership:
The government, private entrepreneurs and the investing public jointly own a joint sector
enterprise.
2. Combined Management:
The management and control of a joint sector enterprise lies with the nominees or representatives
of the Government, private businessmen and the public.
3. Share Capital:
The shares of the Government, private businessmen and the public in the capital are 26 per cent,
25 per cent and 49 per cent, respectively. The aim is to pool the financial resources and technical
know-how of the State and the private individuals.

Cooperatives In India
The cooperative movement in India has its origin in agriculture and allied sectors. The first
Cooperative Credit Societies Act was enacted in 1904.Subsequently a more comprehensive
legislation called the Cooperative Societies Act was enacted. This Act provided for the creation
of the post of registrar of cooperative societies and registration of cooperative societies for
various purposes and audit. Under the Montague- Chelmsford Reforms of 1919 cooperation
became a provincial subject and provinces were authorized to make their own cooperative laws.
Under the Government of India Act 1935 cooperatives were treated as a provincial subject. The
Cooperative Societies is a state subject under entry No 32 of the State List of the Constitution
of India.
In order to cover cooperative societies with membership from more than one province, the
Government of India enacted the Multi-Unit Cooperative Societies Act 1942.This Act dealt with
incorporation and winding up of cooperative societies having jurisdiction in more than one
province. A need was felt for a comprehensive Central legislation to consolidate laws governing
cooperative societies. This led to the enactment of Multi-State Cooperative Societies Act 1984 by
the Parliament under Entry No 44 of the Union List of the Constitution of India.