Explain how public sector contributes to the economic development of the Nation?
IN the public sector, ownership of assets and delivery of services is under the government. The government spends huge amount of money in providing various services to the public at reasonable costs.
The Government, thus, contributes towards the economic development of the nation by development of infrastructure, i.e. :
- Construction of roads, national highways, flyovers, metro nahts, railway lines, irrigation through dams, etc.
- The Government provides impetus to industrial growth by supplying electricity at the affordable rates.
- By running schools and providing good quality of education, the government is trying to remove illiteracy and taking the nation forward.