Explain how public sector contributes to the economic activities
Answers
Answer:
The public sector contributes to the economic development of a nation by not mere financial profits.
The public sector plays a vital role in contributing to the Human Development Index via its functioning in health and education services.
Also, by buying food grains at a “fair price” from farmers, providing electricity, water, postal services at low rates, the government ensures that the people have a good living.
It utilises taxes and grants to pay for the same.
Thus, it plays a vital role in adding to the economic development of a nation, based on its human development situation.
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.