Economy, asked by Lunarfey, 1 year ago

The iron and steel industry is mainly owned by the public sector. Why?

Answers

Answered by ruthvikgrandhi

Iron and steel industries are heavy industries and need capital( money) more than 1 crore

Thus a public sector can help in getting money by opening shares of the sector to the public gaining capital for the business

Answered by Arslankincsem

The main reason behind the public sector owning the steel and iron industries is their huge investments made that is not possible by the private sector for setting up,

The profit making and production continue for a long span, and up-gradation with technological advancement in the present era incurs huge costs which are mandatory.

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