Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR3 Marks
Question
How government ownership helps in boosting economy?
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Answer
State-owned enterprise:
Certain industries such as infrastructural industries, iron and steel plants, insurance, etc. are called key industries of an economy. These industries form the platform for economic development.
These industries require very huge amount of investment and skills and also are very risky. Hence, private sector fears entering such industries.
Hence, government itself set-up such industries to boost and maintain the economy.
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