In order to overcome such gap, a series of measures has been taken by the Government so as to improve the conditions of the private sector. Indian economy can broadly be divided into three heads: News services like IT are also creating jobs. Historical change in the sectors: If local banks give credits at reasonable rates to the small and marginal farmers ,they will be able to buy necessary inputs for their crops in time.
The factors which me mostly responsible for such growing industrial sickness in the country include inefficient and corrupt management, lack of proper marketing strategy, poor labour relations and faulty government policy.
One-fourth of the total population in India lived in the urban sector. It is a situation, where people are apparently working but all of them are made to work less than their potential.
During the pre-independence period, the private sector has played a responsible role in Indian economy where it set up and expanded cotton and jute textiles, sugar, paper, edible oil, tea etc. In contrast to this secondary and tertiary sector are producing three-fourth of the produce whereas they employ less than half the people.
Although the Government has taken various supporting measures to develop this sector but the various control and regulatory measures introduced by the Government has restricted the private sector to diversify its productive activities and also hampered its growth process.
It is only in post period, some of these areas are now opened for the private sector participation. The main occupations of this sector are agriculture and allied activities. The private sector also made a serious attempt to invest on industries producing wide range of intermediate products which include machine tools, chemicals, paints, plastic, ferrous and non-ferrous metals, automobiles, electronics and electrical goods etc.
Since independence, the country has been experiencing a good number of large scale strikes and lockouts leading to a valuable loss of man-days as well as production. The growing sickness of the public sector and the policy of economic liberalisation introduced in India particularly after post period, i.
The services sector of the country is almost totally under the control of the private sector. But as this sector is mostly guided by the profit motive and have little consideration about the national and social goals, thus the Government has enacted various legislative measures for the control and regulations Of the private sector during the last four decades.
Since introduction of development process along with economic planning in the country insome existing industrial and business houses got the advantage to avail all those facilities provided by the Government and gain its control over certain industries and gradually became monopolistic in character.Business sector · Private sector · Public sector Industrial output in Service output in The three-sector model in economics divides economies into three sectors of activity: extraction of raw the main focus of an economy's activity shifts from the primary, through the secondary and finally to the tertiary sector.
Indian economy is the eleventh largest economy in the world by nominal GDP. India is an emerging economic power with very large group of human and. PRIMARY SECTOR OF INDIAN ECONOMY We will write a custom essay sample on Sectors of Economy specifically for you for only $ $/page.
Government of India opened gate for private insurance companies to enter the arena and FDI of 26% in the Insurance sector in until then only LIC provided insurance faculties. Private Sector of India | Essay. Article Shared by. ADVERTISEMENTS: In India, the distinction between the private sector and the public sector gained its importance, particularly after the introduction of Industrial Policy Resolutions andpaving the way for the adoption of mixed economy in India.
Private Sector in the Indian.
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ADVERTISEMENTS: Public Sector: Private Sector: It consists of all the economic enterprises which are controlled and managed by the private enterprises. All the privately owned production units are come under this head. These units will produce and distribute goods and services among the.
The public sector in an economy is owned and controlled by a government. The differences between public and private accounting In order to understand the difference between public and private accounting, we must first understand what accounting is.
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