Public sector

Introduction:-
A public sector enterprise is an
undertaking & managed by government.Born
as the outcome of the concious policyof the
govt. to speed up industrialisation of the
country with a view of economic growth as
well as to achieve certain socio-economic
goals.
Public sector covers wide range
of activity
 steel,coals, minerals & metals
 Petroleum
 Heavy engineering
 Chemicals
 Pharmaceuticals & fertilizers
 Consumer goods
 Transportation services
 Financial services
Definition of public sector
 Acc.to international centre for public enterprises (ICPE),
Yugoslavia,:-
“ A public enterprises is an organisation which is:-
-owned by public authorities including central , state or local
authorities
- Is under the top managerial control of owning public authorities
- Is established for the achievement of a definite set of public
purpose.
- Is engaged in activities of a business character
- Involves the basic idea of investment and returns
- & which markets its outputs in the shape of goods & services.
Objectives for establishing public
sector
 Rapid economic growth & industrialization
 Earn return on investment & thus generate
resources for development
 Promote re-distribution of income & wealth
 Create employment opportunities
 Promote balanced regional development
 Development of small scale industries
 Save & earn foreign exchange