Concept of Public Sector Features/Characteristics Objectives Function

 There are two types of sectors.One is private sector and second is public sector.Private sector plays an important role in capitalist economy whereas public sector plays an important role in Socilist economy.Both Public and Private sectors present in mixed economy and play an important role for the development of common man.

Definition-

The sector that is established controlled by national,state or local government this type of sector is called Public sector.

In other words we can say that the sector that is owned and operate for the development of country this type of sector is called Public sector.

Features|Characteristics-

1.It is established by government.

2.It is owned by government.

3.It is managed and controlled by government.

4.It is a separate legal entity.

5.It has a perpetual succession.

6.It has autonomy.

7.It has a long life.

Objective-

1.To balance regional development.

2.To develop infrastructue inside country.

3.To support rapid economic development of country.

4.To generate resource for the development of country.

5.To redistribution of income and wealth among people.

6.To create employment opportunities.

7.To encourage or support the development of small scale middle scale industry.

8.To promote export of country.

9.To decrease the import of country.

10.To promote research and development.

Function-

1.It generates national income for the development of country.

2.It forms capital inside country that is used for the development of infrastructure inside country.

3.It generates million of opportunities every year that changes the life of million of employees.

4.It develops infrastructure like Power,Transportation, Communication ,Irrigigation inside the country that helps Small scale,Middle scale industry.

5.It develops industrial environment inside the country.

6.It provides different types of tax to central government.

7.It develops rural part of country.

Example-

1.Beahmaputra Cracker and Polymer Limited.

2.Braithwaite and Co. Ltd.

3.Air India Ltd.

4.Airport Authotity of India.

5.Artificial Limbs Manufacturing Corporation of India.

6.Balmer Lawrie and Co.Ltd.

7.Bharat Earth Moves Limited.

8.Bharat Electronics Limited.

9.Bharat Heavy Electricals Limited.

10.Bharat Petroleum Corporation Ltd.

11.Bharat Sanchar Nigam Limited.

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