Advertisement Remove all ads

Explain how public sector contributes to the economic development of a nation. - Social Science

Answer in Brief

Explain how public sector contributes to the economic development of a nation.

Advertisement Remove all ads

Solution

The public sector contributes to the economic development of a nation by not mere financial profits. The public sector plays a vital role in contributing to the Human Development Index via its functioning in health and education services. Also, by buying food grains at a “fair price” from farmers, providing electricity, water, postal services at low rates, the government ensures that the people have a good living. It utilises taxes and grants to pay for the same. Thus, it plays a vital role in adding to the economic development of a nation, based on its human development situation.

Concept: Sectors of Economic Activities
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

NCERT Class 10 Social Science Economics (Understanding Economic Development)
Chapter 2 Sectors of the Indian Economy
Q 21 | Page 37
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×