How is Public sector different from Private sector?
Differences Between Private and Public Sector Enterprises
| BASIS FOR COMPARISON | PUBLIC SECTOR | PRIVATE SECTOR |
| Meaning | public sector, portion of the economy composed of all levels of government and government-controlled enterprises. It does not include private companies, voluntary organizations, and households. | The private sector refers to the part of the economy that isn’t controlled by the state. It includes any for-profit businesses run by individuals or companies. |
| Basic objective | To serve the citizens of the country. | To Earning Profit. |
| Areas | Police, Army, Mining, Health, Manufacturing, Electricity, Education, Transport, Telecommunication, Agriculture, Banking, Insurance, etc. | Finance, Information Technology, Mining, Transport, Education, Telecommunication. |
| Basis of Promotion | Seniority | Merit |
| Job Stability | Yes | No |
| Source of capital | Capital is obtained by public revenue earnings like taxes, excise and other duties, treasury bills, bonds, etc. | Capital can be obtained by loans, issuing shares and debentures, etc. |
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