|Image credit: Financialexpress.com|
Private sector enterprises are all those institutions which are entirely under the private hands. They run in private interest and their main motive is profit, but subjected to social control through government regulations. Private sectors may be domestic or foreign engaged in various fields of productivity purposes. The government of India has allocated specific roles to the private sector. It helps in increasing the business and trading activities, growth in national output and capital formation as well as market expansion. Industrial and agricultural development are brought about by the private sector enterprises.
In India, an emphasis has been given both to private and public sector enterprises in terms of development. Both the sectors contribute equally ensuring the economic development of the country. If these sectors continue to grow in the coming years then the day is not far when India will be highly developed and will be one of the top rankers in terms of industrial development and infrastructure. This, in turn, would gradually reduce various socio-economic problems in India like chronic unemployment, uneven distribution of wealth and make India a better place to live in.
Article by Anisha Dutta
She is a content evangelist who believes that the Science of today is the Technology of tomorrow.
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