Explain how public sector contributes to the economic
Answers
Answer:
Public Sector contributes to the economic development of a nation. (i) It promotes rapid economic development through creation
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 service.
Conduct a survey in you locality by supplying the following questionnaire to get an idea as to how alert they are as consumers. For each question, tick one
Mrs Krishna bought a Colour Television (CTV) against six months warranty. The CTV stopped working after three months. When she complained to the dealer/shop where it was purchased, they sent an engineer to set it right. The CTV continues to give trouble and Mrs Krishna no longer gets any reply to the complaint she made to the dealer/shop. She decides to write to the Consumer Forum in her area. Write a letter on her behalf. You may discuss with your partner/group members before you write it.
(i) COPRA applies only to goods. (ii) India is one of the many countries in the world which has exclusive courts for consumer redressal. (iii) When a consumer feels that he has been exploited, he must file a case in the District Consumer Court. (iv) It is worthwhile to move to consumer courts only if the damages incurred are of high value. (v) Hallmark is the certification maintained for standardization of jewellry. (vi) The consumer redressal process is very simple and quick. True (vii) A consumer has the right to get compensation depending on the degree of the damage.