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Public Sector Enterprise: Difference between Public Sector and Private Sector Enterprises

Difference between Public Sector and Private Sector Enterprises

Difference between Public Sector and Private Sector EnterprisesDifference between Public Sector and Private Sector Enterprises
BasisPrivate sectorPublic Sector
ObjectiveMaximization of profitMaximize social welfare, Ensure balanced economic development.
OwnershipIndividualsGovernment
Managed byOwner and professional managers.Government
CapitalRaised by owners through loans, private sources and public issues.Raised from Government funds and sometimes through public issues.
Area of operationOperates in all areas with adequate return on investment.Operates in basic and public utility sectors.

Table title: Difference between Public Sector and Private Sector Enterprises

Table description: Showing table of difference between Public Sector and Private Sector Enterprises

Form of Organisation of Public Enterprises

Illustration: Form of Organisation of Public Enterprises

Departmental Undertaking

  • Form of organisation is primarily used for provision of essential services
  • Such organizations function under the overall control of a ministry of the Government
  • Financed and controlled in the same way as any other government department

Statutory (Or Public) Corporation

  • Refers to a corporate body created by the Parliament or State Legislature by a special Act.
  • Define its powers, functions and pattern of management
  • is also known as public corporation
  • Wholly capital provided by the government.

Examples: Life Insurance Corporation of India, State Trading Corporation etc.

Government Company

  • 51% or more of the paid-up capital is held by the government.
  • Registered under the Companies Act.
  • Fully governed by the provisions of the Act.
  • Owned and managed by government.
Illustration: Government Company