The Union Cabinet has given ‘in-principle’ nod to divest stakes in Air India — a wholly government owned airline

Q. The Union Cabinet has given ‘in-principle’ nod to divest stakes in Air India — a wholly government owned airline. This means the government is willing to shed a substantial portion of its stake and hand over the management of the ailing airline to the private sector. Identify the concept being described in the above lines.

A.            Liberalisation

B.            Privatisation

C.            Globalisation

D.            Demonetisation

Answer: Privatisation