explain the priorities of public sector over private sector with reference to indian economy
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Privatization is a broad concept and its meaning goes slightly different in different countries. Privatization generally refers to inducing private sector participation in the management and ownership of Public Sector Enterprises.
In a narrow sense, privatization implies induction of private ownership in state owned enterprises. It is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector (a government) to the private sector, which usually operates for a profit.
In a narrow sense, privatization implies induction of private ownership in state owned enterprises. It is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector (a government) to the private sector, which usually operates for a profit.
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Public sector has got the direct funding by the Government from its revenue unlike the private sector which is self independent. Funds are the backbone for the stability of any sector in our economy, this grants the public sector an upper hand in terms of running its activities.
public sector is managed by qualified personell who are able to run the activities smoothly unlike the pricvate sector where they may employ underqualified personell
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