The public sector is an asset of the country. Public sector units are established by the government to earn the profit, provide employment to people, improve the economy of the country and bring overall development. It is a fact that some public sector units are not running in profit and they are becoming a burden on the economy of the country. When any such entity does not run in profit the government decides to disinvestment in that particular unit and invite private players to buy its share but generally, the government keeps its share more than the private players, however, in some cases, government transfers ownership rights of public sector unit to private industrialist also. It improves the efficiency of employees, production and economy of the country as well.
Several public units have already been privatised and some others are in pipeline.
However, privatisation has negative aspect also. Employees have no more job security, The salary structure is also decided by the management of the company. It may change the country into a capitalist state where rich people can exploit the labour class at large.
Government establish a public sector unit to help people and bring welfare schemes for people. Like Indian railways is still a government entity but most likely it is going to be privatised too. Poor people could travel by Indian railways on cheap fare but when it will be given to private players, railway fare will certainly be increased because corporate aims to earn more and more money. They don't overtake public units for doing charity but flourish their business. In this situation, the government has to see this aspect of privatisation also.
Be indian and buy Indian.