Question

distinguish between public sector and joint sector industries 3 marks answer​

Answer 1

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Main Differences Between Public Sector and Joint Sector

The main difference between the Public Sector and the Joint Sector lies in ownership.

• The Public Sector is completely owned by the government while the Joint sector has shared ownership between the government and private institutions.

• The investment for Public Sector entities is made through Tax and additional transfers from state governments whereas the Joint Sector has private institutions pooling money as well as the government investing through shares and fees.

• The basic objective of setting up the public sector is the social welfare of the people while the joint sector is set up for generating profit also.

• The government is held accountable for the rise and fall of the public sector, while in the joint sector, it is the responsibility of both the government and the private body.

• The public sector units constitute of defense services, railways, nuclear power, and so on while petroleum services, airlines, and banking services come under joint sector companies.

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