Explain how public sector contributes to economic development in India
Answers
It contributes in the following ways
1. It promotes rapid economic development through creation and expansion of infrastructure.
2. It creates employment opportunities.
3. It generates financial resources for development.
4. It is ensuring equality of income, wealth and thus, a balanced regional development.
5. It encourages development of small, medium and cottage industries .as ancillaries.
6. It ensures easy availability of goods at moderate rates.
7. It contributes to community development i.e., to the Human Development Index (HDI) via health and educational services.
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Answer:
.How public sector contributes to economic
development?
Ans. 1. it promotes economic infrastructure: Railway,
road construction and Port construction.
2. it promote social infrastructure: Hospitals,
Educational Institutes, housing facilities.
3. it create employment.
4. It promote technology and Research.
5. To made every citizen literate and healthy.
6. it ensures availability of goods at moderate rates.