Write the Differences between public and private sector.

1.	Write the Differences between public and private sector.
Answer» Public Sector: 1. Ownership of industries is with government 2. Public Revenue Depends upon levy of taxes, on income and commodities and services 3. Public sector ensures the proper wage 4. It does not allow to concentrate huge wealth in few hands or rich people Eg – NLC, SAIL, BSNL. 5. No tax evasion 6. It is service oriented 7. Reservations are implemented. Priority is given to the socially backward people Private Sector: 1. Ownership of industries is with private individuals 2. Issuing shares and debentures or by taking loan 3. Private sector exploits the workers. 4. It allows concentrate of huge wealth in few hands or rich people Eg-TVS Motors, Ashok Leyland, TATA Steel. 5. Tax evasion is possible 6. It is purely profit oriented 7. It does not care the socially backward class, Reservation is not followed.

Answer»

Public Sector:

1. Ownership of industries is with government

2. Public Revenue Depends upon levy of taxes, on income and commodities and services

3. Public sector ensures the proper wage

4. It does not allow to concentrate huge wealth in few hands or rich people

Eg – NLC, SAIL, BSNL.

5. No tax evasion

6. It is service oriented

7. Reservations are implemented. Priority is given to the socially backward people

Private Sector:

1. Ownership of industries is with private individuals

2. Issuing shares and debentures or by taking loan

3. Private sector exploits the workers.

4. It allows concentrate of huge wealth in few hands or rich people

Eg-TVS Motors, Ashok Leyland, TATA Steel.

5. Tax evasion is possible

6. It is purely profit oriented

7. It does not care the socially backward class, Reservation is not followed.

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