Write the functions of private sector.

Answer in Brief

The main function of the private sector is to create innovation and modernization.
The profit motive drives them to invent, innovate new techniques of production, and manage the productive activities in a scientific manner.
Develop and maintain infrastructure and services.
Promote and expand existing businesses.
Promote human capital development to help vulnerable groups especially to participate in the labour market and encourage community business and cooperation, local exchange system.
Promote small, micro, and medium enterprises through supply-side measures and demand-side measures and attract investment in the city.

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Introduction of Public and Private Sector

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Chapter 4.2: Public and Private Sectors - Exercise [Page 248]

Chapter 4.2 Public and Private Sectors
Exercise | Q VII. 6 | Page 248

The public sector in India owes its origin in ______ the Industrial policy resolution of the Government of India.

Match the following

The Industries which would be exclusively owned by the state are referred to as Schedule-A
The industries in which the private sector could supplement the efforts of the state sector, with the state taking the sole responsibility for starting new units which are specific in Schedule-B.
The remaining industries which were in the private sector are not mentioned in the Schedule.

Name any three Major Private Sector industries.

______ is an example for the public sector which serves as a consultancy.

Nehru’s vision was carried forward by ______.

The sector, which is engaged in the activities of providing government goods and services to the general public is ______.

In 1947, India was primarily an ______ country.

The largest public sector employer in India is ______.

Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:

Timely completion of projects undertaken.