Differentiate between the following :
Private and public industries
Answers
Private Sector Enterprises
It refers to the business enterprises which are owned, managed and controlled by an individual or a group of individuals.
The government cannot interfere in the functions of private enterprises as it has no control over it.
It is that type of business units which are carried on with the motive of earning profits.
It can be small in size or large in size.
Example: ICICI Bank Limited, ITC Limited, HDFC Bank Limited, Wipro etc.
(2) Public Sector Enterprises
The public sector consists of various organizations owned and managed by the government.
These organizations may be either partly or wholly owned by the central or state government.
The government can participate in economic activities through these enterprises of the country.
The forms of organization which a public enterprise may take are as follows:
Departmental undertaking
Statutory corporation
Government company
Explanation:
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