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Explain Two Ways by Which Public Expenditure Promotes Economic Development. - ICSE Class 10 - Economics

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Question

Explain two ways by which public expenditure promotes economic development.

Solution

Public expenditure promotes the economic development of a nation as follows:

  1. Public expenditure on infrastructural development improves the production efficiency of industries and increases employment opportunities.
  2. It encourages private enterprises by initialising state-owned financial and banking institutions to provide cheap credits.
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APPEARS IN

 2015-2016 (March) (with solutions)
Question 6.1 | 5.00 marks
Solution Explain Two Ways by Which Public Expenditure Promotes Economic Development. Concept: Concept for Public Expenditure.
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