5 differences between public sector and joint sector industries
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PUBLIC SECTOR
1. These are owned and managed only by the government.
2. Their accountability and liability is held by the responsible owner which is the government.
3. It consists of sectors like defence services, railways, nuclear power etc.
4. Hindustan Aeronautics Ltd is an example.
5. The main aim of these public sector is the social welfare of the country and its citizens
JOINT SECTOR
1. These are owned and managed in a joint effort both by the government and an individual or a group of individuals (private persons).
2. Their accountability and liability is held by both the government and the individuals in part according to their share.
3. This includes airlines, banking services, petroleum products etc.
4. Vistara airlines, Maruti Suzuki are examples.
5. These are both profit making and also wish to improve the social welfare of the citizen as both the government and the private individual is involved.
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