2. Meaning of Public Sector
Public Sector enterprises are those part of
economic system which is controlled by
government. In other words, it refers to those
enterprises whose ownership and management
are directly in the hands of government. The
main objective of public sector is social welfare.
For Example
Steel Authority of India Limited
National Thermal Power Corporation
Oil and Natural Gas Corporation
3. Characteristics of Public Sector
Government Ownership
Government Management and Control
Financed by Government
Social Welfare
Financial Independence
Heavy Investment-useful for various sectors
4. Limitations of Public Sector
Lack of Flexibility
Poor Management
Delay in Decision Making
Lack of Innovations
Lack of Efficiency
Lack of goods variety
