Question: Why Do We Need Public Sector?

Why do we need public sector class 10?

Role of public sector/government (i) It ensures rapid economic development.

(ii) It promotes redistribution of Income and wealth.

(iii) It develops industries which require huge investment.

(iv) It ensures balanced regional growth..

Why do we need public sector explain how public sector contributes to economic development of nation?

As huge sum of amount is needed which private sector can not afford, so public sector is needed there. For example, building bridges, railway etc. (ii) There are several basic activities which government has to support, for example, selling electricity at lower cost, providing driking water at affordable rate etc.

What is the importance of public sector in India?

Here we detail about the following nine important roles played by public sector in Indian economy, i.e., (1) Generation of Income, (2) Capital Formation, (3) Employment, (4) Infrastructure, (5) Strong Industrial Base, (6) Export Promotion and Import Substitution, (7) Contribution to Central Exchequer, (8) Checking …

Why do we need public services?

Improving Communities These services do often have challenges, and there are needs for additional services to keep a community running safely and efficiently. Entering public service provides the opportunity to become a steward of public policy and contribute to the improvements that are vital to quality of life.

What is the major function of the public sector?

A well-functioning public administration and public sector provide conditions for the prosperity of private enterprise by creating an optimum and rational infrastructure by means of modernizing communication networks, systems of information services for citizens and businesses, through providing professional assistance …

Why is the private sector important?

The private sector is the engine of growth. Successful businesses drive growth, create jobs and pay the taxes that finance services and investment. … Private companies are providing an ever increasing share of essential services in developing countries, such as banking, telecommunications, health and education.