SSC MTS EXAM

Detailed explanation-1: -The industrial sectors are classified into public and private sectors on the basis of ownership of enterprises. Public sectors refers to government owned organisations and private sectors are not government owned.

Detailed explanation-2: -The private sector comprises of business which is owned, managed and controlled by individuals. On the contrary, public sector comprises of various business enterprises owned and managed by Government. Such organizations are either fully or partly owned by the center or state and come under the separate ministry.

Detailed explanation-3: -What are public and private sectors banks? Banks classified as public sector banks are those in which the federal or state governments hold a majority stake. Private sector banks are those whose stock is primarily owned by private companies or individuals.

Detailed explanation-4: -The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government.