Question

Distinguish between agro based industry and mineral based industry and also define what is private and public sector

Answer 1

Answer:

Agro Based Industries

(1) Agro-based industries use agricultural products as their basic raw material.

(2) Example - Cotton and jute textiles, Sugar, Food processing, etc.

Mineral Based Industries

(1)Mineral based industries use both metallic and non-metallic minerals as

raw materials.

(2) Example- Iron and steel, Aluminium, Cement, Petrochemicals, etc.

Explanation:

Private sector banks can be defined as banking institutions where the majority of the shares are held by the private equity holders whereas public sector banks (also termed as government banks) can be defined as banking institutions where the majority of the stake is owned by the government.Private Sector includes those companies, enterprises or businesses which are owned by Private Individuals or Private Companies. The companies in the Private Sector are controlled, managed and operated by Private Individuals/Private Entities.

Companies owned, controlled, managed and being operated by Private Companies/Private Individuals comes under the private sector.