How does the public sector contribute to the economic development of the nation? Explain.

Public sectors are owned and controlled by the Government.

The public sector contributes to the economic development of a nation in the following ways:

a. Many essential things are provided by the public sector at a cost which is affordable by all classes of society.

b. Many industries which require huge capital are set up by the public sector.

c. The aim of the public sector is to benefit society and not making profit alone.

Railways and Post Offices are some examples of the public sector.