Question

Write the differences between public and private sector.

Answer 1

Public Sector	Private Sector
1. Ownership of industries is with government.	Ownership of industries is with private individuals.
2. Public revenue depends upon levy of taxes on income and commodities and services.	Issuing shares and debentures or by taking the loan.
3. Public sector ensures the proper wage.	The private sector exploits the workers.
4. It does not allow to concentrate huge wealth in few hands or rich people.	It allows the concentration of huge wealth in few hands or rich people.
5. Public sector industries include Police, Army Mining, Health, Manufacturing, Electricity Banking, etc.	Private-sector industries include finance, Mining, Transport, Education, etc.
6. No tax evasion.	Tax evasion is high.
7. It is service-oriented.	It is purely profit-oriented.
8. Reservations are implemented. Priority is given to the socially backward people.	It does not care about the socially backward class people. Reservation is not followed.