Explain how the public sector contributes to the economic development of a nation.
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Ans: Public sector contributes to the economic development of a nation:
It promotes rapid economic development by creating and expanding the infrastructure.
It creates employment opportunities.
It generates financial resources for development.
It ensures equal income and wealth, hence a balanced regional development.
It encourages the development of small, medium, and large industries.
It ensures easy availability of goods at affordable rates.