Can you briefly discuss the purpose of Government Contracts in doing business with the Public/Private companies?

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The purpose of the government contracts in doing businesses with the public or private enterprise is to build public private partnership and get the expertise, higher efficiency and network benefits of the specialized organizations that can reduce the overhead costs and government can achieve its goals with a dedicated budget. It reduces the scope of failure and liabilities are shared as work is being awarded to the companies who are specialized to do that and in a given budget, time schedule and key deliverables. Further, it also solves one purpose of the government that is to create employment. When a work contract is awarded to public or private companies, then these organizations will create new jobs and funds will be channelized to stimulate the aggregate demand of the economy as well. So, there are multiple objectives and purpose (primary and secondary) when government contracts are awarded to the public or private companies.

Rahul Sunny answered 1 year ago

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