Question

Diferentiate between public setor and
Purivate sector Bank?Give five point.​

Answer 1

Answer:

• Public Sector:-

1. Meaning : The section of a nation's economy, which is under the control of government, whether it is central, State or local, is known as Public Sector.
2. Basic Objective : To serve the citizens of the country.
3. Raises Money From : Public revenue like tax, duty, penalty etc.
4. Areas : Police, army, mining, health, manufacturing, electricity, education, transport, telecommunication, agriculture, banking, insurance etc.
5. Benefits of Working : Job security, retirement benefits, allowance, perquisites etc.

• Private Sector:-

1. Meaning : The section of a nation's economy, which is owned and controlled by private individuals or companies is known as Private Sector.
2. Basic Objective : Earning profit.
3. Raises Money From : Issuing shares and debentures or by taking loan.
4. Areas : Finance, information technology, mining, transport, education, telecommunication, manufacturing, banking, construction, pharmaceutical etc.
5. Benefits of Working : Good salary package, competitive environment, incentives etc.