Question

How public sector contributes to the economic development of a nation?​

Answer 1

Answer:

As huge sum of amount is needed which private sector can not afford, so public sector is needed there. For example, building bridges, railway etc. (ii) There are several basic activities which government has to support, for example, selling electricity at lower cost, providing driking water at affordable rate etc.

Answer 2

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➡ In public sector the government owns the Assets and provides all services.

➡ The aim of the sector is to provide welfare.

➡ It plays a vital role in contributing to human development index by establishing schools & hospitals.

➡ The government pays attention in providing the basic services at low & affordable rates.

➡ Thus, the government ensures that the people have good standard of living.