question_answer

State any five features each of public sector    and private sector.

Answer:

Public Sector: It is a service sector, providing service to the people:

(i) It is owned by the government.

(ii) Most of the services provided by the government itself.

(iii) Motive of this public sector is the welfare of the masses and all the activities are guided by the interest of nation.

(iv) In this sector employees feel free, secured disciplined and puntual in their duties.

(v) Government earns money by different taxes etc.

For example: Railway, Postal service. Banking etc.

Private Sector:

(i) Ownership is in the hands of the private individuals or private companies.

(ii) Motive of this sector is to earn more money.

(iii) Services are provided in the hands of individuals.

(iv) Jobs in this sector are less secured.

(v) This sector charges high rates for the use of services.

Examples are: TISCO, Reliance Industries etc.