The public sector in Indian economy
The public sector in the Indian economy is owned and controlled by the government. It aims to promote economic development, ensure basic services and goods availability to its citizens, and protect the interests of weaker sections of society.
The public sector includes both the Central Government and State Governments. The Central Government includes departments (like the Ministry of Railways, and Ministry of Health), ministries, and public sector undertakings (PSUs). The State Governments include state-level departments, ministries, and public sector undertakings
Importance of public sector in the Indian economy
The public sector in the Indian economy is important for the reasons given below:
- It creates employment opportunities for citizens
- It helps in the economic development of a country
- It provides essential services to the citizens
- It promotes exports and reduces imports.
- It encourages private investment
- It helps in the development of infrastructure.
Importance of business environment
Components of business environment
Corporate Social Responsibility
Problems related to public sector in Indian economy
Process of Environmental Analysis
Reference:
- https://unacademy.com/content/bank-exam/study-material/general-awareness/public-sectors-in-indian-economy-objectives-importance-performance-and-problems/
- https://byjus.com/free-ias-prep/public-sector-india/
- https://groww.in/blog/public-sector-undertaking-in-india
- https://www.egyankosh.ac.in/bitstream/123456789/78589/1/Unit-5.pdf
- Vacari, I., & Prikladnicki, R. (2015). Adopting Agile Methods in the Public Sector: A Systematic Literature Review. Proceedings. https://doi.org/10.18293/seke2015-159
- Public Sector Company – 448 Words | Studymode. https://www.studymode.com/essays/Public-Sector-Company-1402868.html