how does the public sector play an important role in the economy of India
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Answer:
A State/Govt. ownership is called public sector, Indian Public sector is described as under:
•A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise. These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU. PSUs may be classified as central public sector enterprises (CPSEs) or state level public enterprises (SLPEs). In 1951 there were just five enterprises in the public sector in India, but in March 1991 this had increased to 246.
•CPSEs are companies in which the direct holding of the Central Government or other CPSEs is 51% or more. They are administered by the Ministry of Heavy Industries and Public Enterprises.
•As on 13 September 2017 there are 8 Maharatnas, 16 Navratnas and 74 Miniratnas.There are nearly 300 CPSEs(central public sector enterprises) in total.
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Answer:
Public sector has played a very big role in the economy of India.Public sector is always on the side of the government, they get funds from the government and operate under instructions given by the government.The public sector is found to very important because;It encourages economic development,this need a lot of capital because it deals more with industries.Balances on regional development,create employment,improve infrastructure.
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