how does the public sector contribute to the economic development of a nation
Answers
is the benefit of the people
it helps to provide the employment to people
it helps the people to raise their standard of living
Answer:
Contribution of public sector to economic development:-
In the public sector the government owns most of the Assets and provides all the services .
The purpose of the public sector is not just to earn profits but also to provide facilities to the public in different ways .
There are several things needed by the society as a whole, some of these need spending large sum of money which is beyond the capacity of the private sector and so they are provided by the public sector.
The government supports and encourages industrial activities providing affordable electricity .In the same way to promote agricultural activities the government purchases their products on MSP and provide a subsidy for the poor on these products .
hope thus may help u .....