public sector and private sector difference of 8 class
Answers
Answer:
Gone are the days, when only the Public Sector was prevalent in the economy. At present, many countries have adopted the policy of Privatisation, through which Private Sector is also gaining importance.
For the progress and development of any country, both the sectors must go hand in hand as only one sector cannot lead the country in the path of success. The private sectorcomprises of business which is owned, managed and controlled by individuals.
On the contrary, public sectorcomprises of various business enterprises owned and managed by Government. Such organizations are either fully or partly owned by the center or state and come under the separate ministry. Some of the public sector organizations are set up by a special act of Parliament.
A cut-throat competition between both the sectors, to prove itself better over the other sector. So, the article attempts to outline the differences between public sector and the private sector in tabular form.
Explanation:
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Explanation:
PUBLIC SECTOR
This kind of industries is run and managed by the government of state.
EXAMPLE : Hindustan Aeronautics Limited , Hindustan Uniliver
PRIVATE SECTOR: This kind of industries is run and managed by an individual person.
EXAMPLE Automobile Industries Telecom Industries
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