Question

What are Public Sector Industries??

Answer 1

Public Sector Industries are those industries which are owned by government or their different agencies. Most of the heavy industries such as iron and steel, petroleum and aircrafts are owned by the government. Some examples of these industries are Bharat Heavy Electricals Limited, Steel Authority of India Limited, and Life Insurance Corporation.

Answer 2

Explanation:

• Public goods and governmental services including the military, law enforcement, infrastructure, public transit, public education, together with health care and those employed by the government itself, such as elected officials, are all considered to be part of the public sector.
• The public sector may offer services that cannot be withheld from non-payers (like street lighting) and which benefit society as a whole rather than just the user.
• Public enterprises, also known as state-owned enterprises, are self-financing commercial businesses that are owned by the government and offer a range of private goods and services for sale.
• These businesses typically function on a for-profit basis.
• Organizations outside of the public sector often belong to the commercial sector or the nonprofit sector.
• The economic sectors that are designed to generate profits for the owners of the business make up the private sector.
• The voluntary, civic, or social sector includes a wide range of non-profit groups with a focus on civil society.

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