Question

explain how the public sector is important ?

Answer 1

Public sector plays a vital role in the development of any economy. Public sector being the monopoly in the hands of government is considered to be very important organization. It has following importance:-

(1) Economic Development: Economic development mainly depends upon industrial development. Heavy & basic industries like iron & steel, shipping, mining, etc. are required for supplying raw materials to small industries. Huge capital is required for establishment of such heavy & basic industries. This capital required for these industries is easily & readily made available by public sector but it is practically not possible for a private sector to run these industries.

Answer 2

public sectore is important because if all the things are under privte sector then we dont get benefits of like subsides , freedom of speech and some other factors.
and also we have to pay heavy charges for services like if railways are under private sector then we have to pay double or triple as compared to normal rate