What is meant by joint sector? Describe it's characteristics.
Answers
Answer:
The Dutt Committee (Industrial Licensing Policy Inquiry Committee) has defined the concept of the joint sector in the following terms: The joint sector would include units in which both public and private investments have taken place and where the state takes an active part in direction and control.
Explanation:
The term 'joint sector' is applied to an undertaking only when both its ownership and control are effectively shared between public sector agencies and a private group. The basic idea underlying the concept is combination of joint ownership, joint control and professional management.
Explanation:
In the context of India, the state sector is made up of enterprises owned and controlled either wholly by the central, state of local government or jointly with each other. Similarly, joint'sector is also made up of factories owned and managed by any of these three governments jointly with private individuals.
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