Question: Why Public Sector Is Important?

Is it necessary to have a public sector?

Yes, it is necessary to have public sector due to its contribution to economic development of India.

(i) It ensures rapid economic development.

(ii) It promotes redistribution of Income and wealth.

(iii) It develops industries which require huge investment..

Why private sector is important?

Private sector contributes about three-forth of the country’s national income. Moreover, this sector also plays a vital role to increase gross domestic saving (CDS) and gross domestic capital formation'(GDCF) within the economy.

How does public sector help in development of a country?

The public sector helps in the development of a country in the following ways. … It provides basic health and educational services in the country by establishing hospitals and schools for the poor and the needy. 2. It provides water, postal services, electricity, irrigation etc.

What is the role of government in public sector class 10?

Role of government in public sector are as follows : 1) Develpoment of infrastructure- Development of infrastructure comprising transprot, power communication, basic industries,etc. is a pre condition of growth. … Running proper schools providing quality education, particularly elementary education is the duty of govt.

Why do we need public sector?

Public sector is important for both social and economic development. They provide the basic facilities like water, electricity which private sector will not provide or will provide with high rates. They give educational and health institutions to the socially and educationally backward people to make them come forward.

Why is public sector important why government role in economy?

Answer: One of the most important reason is to ensure rapid growth of the economy. … As the public sectors are to be set up in the different regions of the country that will help the growth of economy in all the regions. For the performance of economic development public sector can also provide funds.

What is the role of government in public sector?

The public sector refers to all those occupations and economic activities which are owned and controlled by the government. The main aim is not only to earn profits but also to provide key services to the people at low costs.

What are examples of public sector?

It’s a huge employment source, but what exactly is the public sector? In a nutshell, the public sector is responsible for providing all public services in the UK, from the emergency services and healthcare, education and social care, to housing and refuse collection.

What is government and public sector?

The development of governmental bodies and organisations to improve the quality of public services and ensure sustainable development, widespread prosperity and balanced budgets through fostering cooperation among all stakeholders on an innovative basis.