Page 79 - MAZOO EBOOK 1_Neat

Features of public sector entities (as compared to private sector}

BASIS FOR
PUBLIC SECTOR PRIVATE SECTOR
COMPARISON

Meaning The section of a nation's economy, which The section of a nation's economy, which
is under the control of government, owned and controlled by private
whether it is central, state or local, is individuals or companies is known as
known as the Public Sector. Private Sector.

Basic objective To serve the citizens of the country. Earning Profit

Raises money Public Revenue like tax, duty, penalty Issuing shares and debentures or by
from etc. taking loan

Areas Police, Army, Mining, Health, Finance, Information Technology, Mining,
Manufacturing, Electricity, Education, Transport, Education,
Transport, Telecommunication, Telecommunication, Manufacturing,
Agriculture, Banking, Insurance, etc. Banking, Construction, Pharmaceuticals
etc.

Benefits of Job security, Retirement benefits, Good salary package, Competitive
working Allowances, Perquisites etc. environment, Incentives etc.

Basis of Seniority Merit
Promotion

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