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Question

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

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Solution

The use of public sector in developing countries like India is very necessary because of following reasons:


  • It promotes rapid economic development through infrastructure creation.
  • It creates employment opportunities.
  • It generates financial resources for further development.
  • It ensures equality of income wealth and thus a balanced regional development.
  • The public sector plays a vital role in contributing to the Human Development Index via its functioning in health and education services.

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