Question

How public sector contributes to economic development of a nation ?

Answer 1

It contributes in the following ways

1. It promotes rapid economic development through creation and expansion of infrastructure.

2. It creates employment opportunities.

3. It generates financial resources for development.

4. It is ensuring equality of income, wealth and thus, a balanced regional development.

5. It encourages development of small, medium and cottage industries .as ancillaries.

 

6. It ensures easy availability of goods at moderate rates.

7. It contributes to community development i.e., to the Human Development Index (HDI) via health and educational services.

Answer 2

1. It promotes rapid economic development through the creation and expansion of infrastructural facilities.
2. It creates employment opportunities.
3. It ensures easy availability of at moderate rates.
4. It ensures equality in the income and wealth.
5.It encourages the development of small, medium and cottage industries.
6. It contributes to the community development. i.e, Human Development Index.