Roles Of Private Sectors In The Economic Development Of Nation

 Government alone cannot  fulfill  the every demands of the citizens ,hence it collaborate with the other stake holders . private sectors is one of the major stake holders of them. For this purpose government has diffentiated, the core functions and non core functions the the nation.

Multistorey Private Sector Building

So, the core functions are the major functions of any nation related with its sovereignty like military, police,civil services,judiciary ,monetary policy,international relations ,legislation and executive as well sectors related with strategic and security importance of country.

So,except these all other non core functions are performed by the nation by collaborating with the private sectors.

 

Assembling of new car in car company

Hence,private sectors are contributing for the nation in various ways, one of the major is economic contribution . A nation can't develop democratically until collaborating with private sectors .hence for the prosperity of nation and its people .government  must have to work side by side with private sectors. If we talk about the developing nations 99% of the employments are provided by private sectors. Including formal and non formal .

Robot Company

For the country to be self reliant it must have  to ease the policy for private  sectors to work freely under the legal law of nation.

Now , to understand the contributions of private sectors in the economic development of nation see the below points-

*it helps to develop infrastructure and urbanisation of nation,

*By generating employments,

*By producing goods and services in minimum cost,

* By exporting goods and services to earn foreign money,

* By providing choices for consumers,

* By generating  revenues for government,By paying taxes,

* By creating competitive markets,

*By alleviating poverty rate,

* By contributing in budget,

 * providing loan to government , entrepreneurs and individuals ,

Industrial zone

 * By collecting funds,

 * partners of government in big project, 

 * By promoting tourism sectors,

 * Through corporate social responsibility.

The the the some of major roles of private sectors in the development of nation.