Login

What are the main features of private sector and public sector?

  1. Public sector: In the public sector, the government owns most of the assets and provides all the services. Railways or post office is an example of the public sector. The purpose of the public sector is not just to earn profits. Governments raise money through taxes and other ways to meet expenses on the services rendered by it. Modern day governments spend on a whole range of activities.
  2. Private sector: In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies. Companies like Tata Iron a d Steel Company Limited (TISCO) or Reliance Industries Limited (RIL) are privately owned. Activities in the private sector are guided by the motive to earn profits. To get such services we have to pay money to these individuals and companies.

  • 20
View Full Answer

Private Sector:

  • No state control
  • Run by individuals and companies for profit.
  • The small and medium scale companies in the private sector of India suffer from lack of finances
  • It also suffers from the absence of appropriate regulatory structure
  1. Private sector: In the private sector, ownership of assets and delivery of services is in the hands of private individuals or companies. Companies like Tata Iron a d Steel Company Limited (TISCO) or Reliance Industries Limited (RIL) are privately owned. Activities in the private sector are guided by the motive to earn profits. To get such services we have to pay money to these individuals and companies.
  • 0

Private Sector:

  • No state control
  • Run by individuals and companies for profit.
  • The small and medium scale companies in the private sector of India suffer from lack of finances
  • It also suffers from the absence of appropriate regulatory structure

 

Public sector: In the public sector, the government owns most of the assets and provides all the services. Railways or post office is an example of the public sector. The purpose of the public sector is not just to earn profits. Governments raise money through taxes and other ways to meet expenses on the services rendered by it. Modern day governments spend on a whole range of activities.

  • 3
What are you looking for?