Using examples from your area compare and contrast the activities and functions of private and public sectors.
Private Sector:
(i) Ownership of assets and delivery of services is in the hands of private individuals or companies.
(ii) This sector is guided by the motive to earn more and more profits.
(iii) Services of this sector can be obtained only on payment hence, the poor people can not afford services of this sector.
(iv) This sector does not render services of public utility.
Example : TISCO, Reliance Petrochemicals, Modi Tyres, Bajaj Scooters, Berger Paints.
Public Sector :
(i) The government owns assets and takes responsibility to deliver services.
(ii) This sector is not guided by profit motive.
(iii) It invests funds to construct structures and infrastructure of public utility e.g. construction of roads, bridges, railways, harbours, generation of electricity, construction of dams, school and college buildings etc.
(iv) All citizens of a country use and obtain services produced by this sector unconditionally.
(v) It collects funds for investment indirectly through taxes on people having certain income and capable to pay them.
Example : Post and telegraph, Railways, C.P.W.D.
