Political Science, asked by dkmanna63, 1 year ago

explain the roles of public and private sectors about the development of economy?

Answers

Answered by ranjanalok961
5
Private sector: In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies. Companies like Tata Iron a d Steel Company Limited (TISCO) or Reliance Industries Limited (RIL) are privately owned. Activities in the private sector are guided by the motive to earn profits. To get such services we have to pay money to these individuals and companies...

Public sector: In the public sector, the government owns most of the assets and provides all the services. Railways or post office is an example of the public sector. The purpose of the public sector is not just to earn profits. Governments raise money through taxes and other ways to meet expenses on the services rendered by it. Modern day governments spend on a whole range of activities........!!!!

Answered by Anonymous
3

Explanation:

  • Public sector and private sector plays significant role in achieving economic growth of a nation. An effect of their function is noticed on the achievement of country's socio-economic development. ... However, both the sectors are still under developed in terms of financial, human resources, efficiency and management.
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