Q. 23.8( 6 Votes )
What was the role
The role of the public sector before 1991 is explained below:
a. The public sector has to take serious and dedicated efforts to improve the rate of economic development in the country.
b. The public sector also has to provide infrastructure facilities such as roads, hospitals, education, etc.
c. They also had to provide a good strong industrial base. The private sector was not very keen to do so because of the lack of capital investment requirement and the long gestation period.
d. They generated a large surplus which could be used as an investment in other sectors.
e. They created more employment opportunities, to reduce the poverty level and improving the standard of living.
f. It developed the backward regions. The private sector was not interested in this field as it was working with the aim of earning a high profit.
g. It played an important role to serve the public interests. It provided law and order, defense, police and Administrative Services.
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