Difference between public sector and private sectr

1.	Difference between public sector and private sectr
Answer» \tBASIS FOR COMPARISONPUBLIC SECTORPRIVATE SECTORMeaningThe section of a nation\'s economy, which is under the control of government, whether it is central, state or local, is known as the Public Sector.The section of a nation\'s economy, which owned and controlled by private individuals or companies is known as Private Sector.Basic objectiveTo serve the citizens of the country.Earning ProfitRaises money fromPublic Revenue like tax, duty, penalty etc.Issuing shares and debentures or by taking loanAreasPolice, Army, Mining, Health, Manufacturing, Electricity, Education, Transport, Telecommunication, Agriculture, Banking, Insurance, etc.Finance, Information Technology, Mining, Transport, Education, Telecommunication, Manufacturing, Banking, Construction, Pharmaceuticals etc.Benefits of workingJob security, Retirement benefits, Allowances, Perquisites etc.Good salary package, Competitive environment, Incentives etc.Basis of PromotionSeniorityMerit\t

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