Role of public sector in the economy from "summary" of Oswaal NCERT One For All for UPSC & State PSC's Indian Economy Classes-9 to 12 (Old & New NCERT Edition) (For 2023 Exam) by Oswaal Editorial Board
The public sector plays a crucial role in the economy by providing essential goods and services to the citizens. It includes government-owned or controlled enterprises that operate in various sectors such as transportation, communication, energy, and banking. These enterprises are established with the aim of promoting public welfare and economic development. One of the primary functions of the public sector is to ensure the equitable distribution of resources and opportunities in the economy. By providing goods and services at affordable prices, the public sector helps in reducing income inequality and improving the standard of living for the less privileged sections of society. This, in turn, contributes to social stability and cohesion. Moreover, the publ...
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