Advantages of public sector
Filed Under: Lifestyle, Opinion | Posted: 09/28/2012 at 5:46AM
Comments | Region: India
Abolition of monopoly
Whenever a business is completely controlled by private companies, there are chances of monopoly i.e., they start exploiting the consumers by charging higher rates etc. such monopoly is always harmful to the consumers. Through public enterprises the risk of monopoly is covered.
Promotion of public welfare
Profit being the main aim of private enterprise, it is possible and it does happen that they concentrate on the items which give them maximum profit and leave of other commodities. In this way, people may not get some items of their basic necessity. Public welfare and provides them goods regardless of profit margin.
Balanced regional development of industry
While setting up industries in the public sector, the government takes into consideration balance regional development of industry. They take decisions for setting up industries etc. accordingly.
Economic development through public sector
Economic development can be fast through public sectors. The profit made through public enterprises can be used for national economic development.
Employment and better deal to workers
Besides providing employment, public sector gives better deal to the workers.