Sectors of Indian Economy (C10)

Compare the economic activities of the private sector with that of the public sector.

Answer

Comparison of economic activities in Private sector and Public sector economic activities:

  1. Most of the assets of public sector are owned by the government while private sector is owned by individuals or group of individuals.

  2. Govt. provides all services in public sector while in private sector it depends on private owner.

  3. Govt. raises money for various activities through taxes while private sector collects money for the services they provide.

  4. Activities in the private sector are guided by the motive to earn profits while public sector is not just to earn profits.

  5. Railways, Post office are examples of public sector while Tata Steel and Reliance are example of private sector.