3. The surplus money/profit accrued can be invested for the social welfare activities and better services. 4. Public sector cares environment, people, employees, neighbours, etc. Its objectives are multi-faceted. 5.
Such type of wastages is not adopted in public sector. 6. The objective of reduction of disparities in income and wealth can be achieved through public sector. It is an instrument of equal distribution of wealth.
7. In Public Sector, reservations are implemented. Priority is given to the socially backward people.
8. The services of public sector are rendered in remotest areas. Examples: R.T.C. buses provide conveyance to the remotest areas, whether there is profit or not. Rural banking, Primacy Health Centres, etc.
9. The public sector takes the risk in new and untried areas of activities. 10. The Government can invest huge funds in the fields such as atomic energy, atomic research, rocket launching, etc. It cannot see profit or loss in those fields, because they are of national importance. 11.
There cannot be evasion of taxes in this sector. 12. The public sector is not profit oriented.
It has several social welfare objectives. Their functions are intended multi-faceted. Private sector 1. Private sector is based on exploitation of workers and consumers. 2. Private sector causes the concentration of huge wealth in few hands of rich people.
The majority of poor will suffer. 3. The surplus money/profit accrued goes into the pockets of industrialists.
4. Private sector does not care environment, people, employees, neighbors. Its sole motto is to accrue huge profits. 5. In private sector, unnecessary consumable items are produced, which are criminal waste to the society. Further there will be multi- brands for each product. 6.
It is not at all possible in private sector. It is an instrument of accumulation of wealth 7. The private sector does not care the socially backward class people. It does not provide employment opportunities to them. Reservations cannot be applied in private sector. 8. Private sector seeks the ways of getting profit only.
If transportation is in the hands of private, it does not run the buses in the routes which are not profitable. Private sector does not open banks in rural areas. Majority of the doctors do not like to practice in rural areas. 9.
The private sector expresses meager willingness to take the risk in new and untried areas such as oil exploration. 10. Private sector cannot procure such huge investments for the said fields.
Even it can procure the investment; it cannot wait for longer periods for getting profits. 11. Tax avoidance and evasion are common in private sector. 12. The private sector is purely ‘profit oriented’.