GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Profit making
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Entertainment
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Social welfare and security
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None of the above
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Detailed explanation-1: -The public sector contributes to economic development and the main objective is social welfare and security.
Detailed explanation-2: -The answer to the question of “What is the motive of Government” can be answered in simple terms as Welfare of its people and all its constituent sectors.
Detailed explanation-3: -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.
Detailed explanation-4: -Important objectives of public sector enterprises are: Balanced regional development: The government focuses on reduced regional inequalities by establishing public enterprises at economically backward regions. Balanced concentration of wealth and economic power: Private sector works on the agenda of profitability.