The Significance, Role, and Need for Public Sector Enterprises in Economic Growth

Abstract

Purpose: The purpose of this article is to investigate the role that the public sector plays in the process of creating financial resources for economic growth and employment opportunities.   Theoretical framework: One technique to envision the public sector is as an ascending ring of institutions, with the central government at the center, followed by agencies and public corporations. Companies that are either directly or indirectly affiliated with the government and are publicly traded surround the ring.   Design/methodology/approach: This is descriptive based study. In this research paper we survey on random sample of private sectors companies data.   Findings: As a result, it offers job prospects, which adds to the increase of a nation's financial resources. The public sector is the component of the global economy responsible for supplying important services such as infrastructure, public transit, education reform, and security services such as the military and law enforcement.   Conclusion: The scope of government action can now be described in relation to the whole economy. Just one example of the various ways in which the public sector can contribute to economic development is the provision of health and educational services by the public sector, which combined make up a large percentage of the Human Development Index.