Why do we need the public sector? Explain how the public sector contributes to the economic development of a nation.
Answers
Answer:
IIn public sector ownership remains in the hand of the government.
It ensure rapid economic growth.
It ensure equality of income wealth
It raises money through taxes to meet the expenses on the services like construction of railway roadways and flyovers.
Answer:
Public sector is controlled and run by the government and it's organizations .
We need Public sector for the betterment of lower sections of the society by providing all rhe basic requirements for living their life in almost neglecting price.
Public sector contributes in economy by providing basic facilities to the people who need it for their development and that developed person will contribute in county's economy in future but in return of all the facilities it get a very little amount of it's expenditure