Question

how does public sector help in the development of a nation

Answer 1

The public sector helps in the development of a country in the following ways.

1. It provides basic health and educational services in the country by establishing hospitals and schools for the poor and the needy.

2. It provides water, postal services, electricity, irrigation etc.  at low rates and ensures that people have a good living.

3. It protects the poorer sections  by buying wheat and rice at 'fair price' from the farmers and stock them in godowns. These are then sold to the consumers at lower price through ration shops.
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Answer 2

Answer:

An economy's public sector is that portion of the economy that, among other things, offers infrastructure, public transportation, public education, health care, and police and military services.

The public sector is comprised of governments, other publicly controlled or sponsored organisations, businesses, and other organisations that provide goods or services to the general public.

Explanation:

• An economy's public sector is that portion of the economy that, among other things, offers infrastructure, public transportation, public education, health care, and police and military services.
• The public sector is comprised of governments, other publicly controlled or sponsored organisations, businesses, and other organisations that provide goods or services to the general public.
• However, it is not always obvious if a certain organisation belongs under that aegis. In order to establish the limitations correctly, specific criteria must be found.
• The not-for-profit, private, and public sectors may all overlap within the public sector, which extends beyond traditional government.
• The central government is positioned at the centre of a rising ring of institutions that make up the public sector, with agencies and public firms following.
• This ring is surrounded by a grey area that consists of publicly traded companies that may or may not be in the public sector, as well as government-sponsored contractors.
• The police, the military, public transportation, public education, and public roadways are examples of public sector organisations.
• Public enterprises and NGOs produce programmes, goods, or services in a manner similar to government entities, but they are not subject to the same regulations and may receive funding from sources other than the government.

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

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Why do we need public sector? explain how public sector contributes to economic development of the nation?

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