3. The sector, which is registered ,follows Govt.
rules n regulations, have employees n
employers union is called organized sector.
The company form of business comes under
organized sector. The private retail business
is called un organized sector. Reliance retail
is in organized sector, as it is in a company
form n registered.
4. The sector which is not following the
prescribed norms and the modus operandi
which is standardized and centralized. Many
industries fall into this segment which are
transacting on a pseudo industrial basis. It
more of a perceived factor rather being an
implied one.
5.
6. Organized sector Unorganized sectors
The organized sectors cover those
enterprises where the term of
employment is regular .
The unorganized sectors is
characterized by small and scattered
units which are largely outside the
control of government
They are registered by government ,
they follow rules and regulations and
various laws such as , the factories act
, minimum wages act , payment of
gratuity , shops and establishments act .
Unorganized sector does not follow any
rules and regulation pass by the
government .
Workers in the organized sector are
paid according to prescribed scale .
They also get payment in time on
regular basis ,
Most of the jobs are low paid and often
not regular .
They get annual increment and other
allowances such as provident fund ,
payment during holidays , paid leave ,
gratuity , medical benefits , safe
working conditions
There is no provision of over time ,
paid leave , holidays , leave due to
sickness etc.
They can form trade unions They cannot form trade unions
7. They are paid low salaries , therefore they are not
able to fulfill even there basic needs .
They are exploited .
Employment is there but not on regular basis they
can be thrown out any time without any crime or
reason .
Other than salary which is very low they don’t get
any other benefits .
These workers also face social discrimination .
protection and support to the unorganised sector is
both necessary for economic and social
development .
9. The public sector is that part of the economy
whose primary concern is to provide the
basic government services. In most
countries around the world, the public sector
consists of services like the military, police,
public transport, roads, education, and
healthcare services. It has the responsibility
to provide services which will benefit all
including non payers.
10. The part of national economy made up of
private enterprises. It includes the personal
sector (households) and corporate sector
(companies), and is responsible for
allocating most of the resources within an
economy. See also public sector.
11. Public sector Private sector
It is owned by state or central
government .
It is owned by private individuals .
They work with the main motive of
providing service to the public
They work for profit earning .
It is guided by social objectives like
development of backward regions ,
creation of employment , and
equitable distribution of wealth .
In this sector social objectives are
not important it is subjected to strict
financial control of the government .
For example , railways , air India ,
LIC , RBI , FCI .
For example , reliance industries
limited , Tata iron and steel
company limited .
12.
13. Infrastructure : construction of roads ,
bridges , generating electricity , irrigation ,
education etc. are several things needed by
society , but private sector could not invest
as large amount of money is required .
Also collecting money from thousand of
people is not easy .
Hence government has to undertake such
heavy spending and ensure creation of
infrastructure .
14.
15. Public welfare : providing health , housing
facilities , safe drinking water , food and
nutrition for poor are the primary
responsibilities of the government these
activites should be taken up the
government as private sector would like to
maximize there profits and has no interest
in public welfare .
