Question

Explain how public sector contributes to economic development of a nation..

Answer 1

Explanation:

In the following ways, Public Sector contributes to the economic development of a nation. (i) It promotes rapid economic development through creation and expression of infrastructure. (ii) It creates employment opportunities. (iii) It generates financial resources for development. (iv) It ensures equality of income, wealth and thus a balanced regional development. (v) It encourages the development of small, medium and cottage industries. (vi) It ensures easy availability of goods at moderate rates. (vii) Contributes to community development i.e., to the Human Development Index (HDI) via health and educational services..