InterviewSolution
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Briefly explain the role of public sector over private sector 5 points |
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Answer» sector:1) The public sector provides many essential things at quite a reasonable cost which the private sector cannot.2) The public sector has the benefit of the people above everything because its purpose is not to earn profits but to benefit people at any cost.3) The public sector can set up heavy industries, which require a lot of money, but private sectors cannot do.4) The public sector is mainly held by the government, which so often bears some of the cost for the benefit of the public, especially for poor people.5) There are variety of activities that are to be fulfilled by the public sector such as education, health, BANKING, etc.Private sector:1) Private sector plays a dominant role for generating EMPLOYMENT opportunities inside the country.2) It ENHANCES the process of industrialisation. All the private entrepreneurs are worked for profit motive.3) They actually played a leading role for the introduction of new commodities, new techniques of production, new plants equipment’s and machineries. 4) Industries producing intermediate goods and machines can be set up in the private sector. A good number of ULTRA modern industries are constructed under the control of private sector.5) Moreover, this sector also plays a vital role to increase gross domestic SAVING (CDS) and gross domestic capital formation'(GDCF) within the economy. |
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