Question

Meaning and importance of public sector enterprises in india

Answer 1

It means that a particular thing is privately governed by a small group of people

Answer 2

Public sector is one where the entrepreneurial activities are handled by the state or the government. There is a lack of entrepreneurs in India. People are not inclined towards taking risks or running at a loss. As a result the production of goods, especially the basic and the heavy ones are hampered. The public sector undertakes the task of producing the basic and heavy goods such as oil, engines, airplanes, etc. This creates a better infrastructure and inspires people to take up entrepreneurial tasks as they can be sure that their products will reach the people.