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Question
Write the differences between public and private sector.
Distinguish Between
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Solution
| 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. |
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Introduction of Public and Private Sector
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