Question

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Explain the significance of the public sector in indian economy

Answer 1

Answer:

Relative Role of Public Sector in India:

Public sector occupied a worthy place for achieving systematic and planned development in a developing country like India. In a country like India suffering from multi-dimensional problems, private sector is not in a position to make necessary effort for the development of its various sectors simultaneously.

Thus, in order to provide the necessary support to the development strategy of the country, the public sector offers the necessary minimum push for bringing the economy to a path of self sustained growth.