Explain with suitable examples how public sector contributes to the economic development of the nation.
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300
The public sector contributes to ecomonic development in the following ways:
1.) It provides various services and facilities to the people like construction of bridges,dams, roads, etc where heavy spending is required.
2.) By providing such services the government can ensure that small-scale industries and factories can continue to run, increasing the amount of goods produced and contributing to the GDP.
3.) By providing basic services such as health, education, food security, etc.
1.) It provides various services and facilities to the people like construction of bridges,dams, roads, etc where heavy spending is required.
2.) By providing such services the government can ensure that small-scale industries and factories can continue to run, increasing the amount of goods produced and contributing to the GDP.
3.) By providing basic services such as health, education, food security, etc.
Answered by
63
The public sector contribute towards employment opportunity through construction of roads, national highways etc
It also provide rapid economic development through creation and expansion of infrastructure
Plays an important role in human development index (HDI) by giving attention to health care and education facility
All this serivies can be provided only by public sector
Therefore The government needs to monitor the public sector service for the country development
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