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Public Sector, Private Sector and Global Enterprises — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMPublic Sector, Private Sector and Global Enterprises3 Marks
Question
Give information about Public Private Partnership.
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Answer

  • The government of India adopted globalization in $1991$. As a result many foreign products are available in India. For required infrastructure with necessary facilities, huge amount of capital is required.
  • To satisfy this need public-private partnership concept is adopted. Primary facilities like good roads, development of sea-ports, etc. require huge capital in very short period which was quite difficult for government also.
  • It was possible for the industrialists of private sector. There Was apprehension of evils like monopoly if it is carried on only by private sector.
  • To avoid this apprehension government adopted the concept of private public partnership. In private-public partnership government gives land only and private sector invests capital to develop infrastructure.
  • In return right to recover specific fee from beneficiaries is given for certain years. During this period, private sector has to maintain infrastructure.
  • After stipulated time is over the primary infrastructure has to be submitted to the government. There after it is the responsibility of the government to maintain this infrastructure e.g. Ahmedabad - Vadodara express way.

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