Advantages of private sector in an economy
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1. Processing charges : Processing charges on loans are cheaper in thecase of government banks. State Bank of India (SBI) is charging a home loan processing fee of 0.25 per cent on loans upto Rs 25 lakhs.Home loan processing fee at privatesector banks can be as highas 1 per cent.
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The manufacturing industry of India is flooded with private Indian companies and in fact they dominate the said industry. Manufacturing companies covering sectors like automobile, chemicals, textiles, agri-foods, computer hardware, telecommunication equipment, and petrochemical products were the main driver of growth
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