Question

give a few examples of public sector activities and explain why gov.t has taken them up


explain how the public sector contributes to the economic development of a nation

Answer 1

Answer:

Construction of roads, bridges, railways, harbours, generating electricity, providing irrigation through dams, health, education etc. are a few examples of public sector activities

Government has taken up these activities because these activities require a huge amount of investment which is beyond the capacity of the private sector and several things needed by the society as a whole which the private sector will not provide at a reasonable cost. Even if they do provide these things, they would charge a high rate for their use.

Let us further understand this with the help of an example. Selling electricity at a price which covers the full cost of generation may push up the cost of production in industries. Many units,specially small scale units, might have to shut down. Government here steps in by producing and supplying electricity at rates which these industries can afford. So the government has to bear a part of the cost.

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