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Public Sector Enterprise: Difference between Public Sector and Private Sector Enterprises
Difference between Public Sector and Private Sector Enterprises
Basis | Private sector | Public Sector |
---|---|---|
Objective | Maximization of profit | Maximize social welfare, Ensure balanced economic development. |
Ownership | Individuals | Government |
Managed by | Owner and professional managers. | Government |
Capital | Raised by owners through loans, private sources and public issues. | Raised from Government funds and sometimes through public issues. |
Area of operation | Operates 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
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.