Q. 164.5( 6 Votes )

How does the public sector contribute to the economic development of the nation? Explain.

Answer :

Public sectors are owned and controlled by the Government.


The public sector contributes to the economic development of a nation in the following ways:


a. Many essential things are provided by the public sector at a cost which is affordable by all classes of society.


b. Many industries which require huge capital are set up by the public sector.


c. The aim of the public sector is to benefit society and not making profit alone.


Railways and Post Offices are some examples of the public sector.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
All about Coulomb's LawAll about Coulomb's LawAll about Coulomb's Law64 mins
Genius Quiz | All About Magnetic FieldGenius Quiz | All About Magnetic FieldGenius Quiz | All About Magnetic Field33 mins
Quiz | Recalling the National MovementQuiz | Recalling the National MovementQuiz | Recalling the National Movement50 mins
NCERT | Nationalism in India-IINCERT | Nationalism in India-IINCERT | Nationalism in India-II53 mins
Champ Quiz | All About Acids and BasesChamp Quiz | All About Acids and BasesChamp Quiz | All About Acids and Bases31 mins
Rivers of IndiaRivers of IndiaRivers of India30 mins
Champ Quiz | Nationalism in IndiaChamp Quiz | Nationalism in IndiaChamp Quiz | Nationalism in India38 mins
All About Mass-Energy EquivalenceAll About Mass-Energy EquivalenceAll About Mass-Energy Equivalence56 mins
Champ Quiz | Crops of IndiaChamp Quiz | Crops of IndiaChamp Quiz | Crops of India31 mins
NCERT | Nationalism in India-INCERT | Nationalism in India-INCERT | Nationalism in India-I52 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses