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. Public welfare : providing health ,
housing facilities , safe drinking water ,
food and nutrition for poor are the
primary responsibilities of the
government these activities should be
taken up the government as private
sector would like to maximize there
profits and has no interest in public
welfare .
15. India’s IMR is 47 deaths per 1,000 live
births. (Sample Registration System- SRS,
2011)
The IMR of rural areas is 51 infant deaths
per 1,000 births while Urban rate stands
at 31/1000.
Goa has the lowest IMR of 10/1000 and
Madhya Pradesh has the highest IMR of
62/1000.
