Explain how public sector contributes to the economic development of a nation.

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Expert Solution

In the public sector, ownership of assets and delivery of services is under the government. The government spends huge amounts of money in providing various services to the public at reasonable costs.

The government thus contributes towards the economic development of the nation:

By development of infrastructure, i.e.,

1. Construction of roads, national highways, flyovers, metro-rails, railway lines, irrigation through dams, etc.

2.The government provides an impetus to industrial growth by supplying electricity at affordable rates.

3.By running schools and providing good quality of education, the government is trying to remove illiteracy and taking the nation forward.

Nipun Maiti answered 2 years ago

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