how privatisation has led to informalisation of workforce in India

Privatisation, also spelled privatisation, may have several meanings. Primarily, it is the process of transferring ownership of a business, enterprise, agency, public service, or public property from the public sector (a government) to the private sector, either to a business that operates for a profit or to a nonprofit organisation. It may also mean government outsourcing of services or functions to private firms, e.g. revenue collection, law enforcement, and prison management.

Privatisation has also been used to describe two unrelated transactions. The first is the buying of all outstanding shares of a publicly traded company by a single entity, making the company privately owned. This is often described as private equity. The second is a de mutualization of a mutual organisation or cooperative to form a joint-stock company