As we know India is a mixed economy where public and private sector work together to increase the economy and improve efficiency. 

What is private sector ?

Private sector means it is a part of economy system where individual or group of individual runs a company rather than  government. 

How private sector helps economy 

Private sector helps the economy by providing jobs , goods and services , develops industrial areas and creates more job opportunities for candidates

Benefits :

Private sector are very flexible in work . If a employee has an emergency then they can continue their work from home 

Cost reduction plays an important role , public sector can get the work done with minimum amount compared to government sector

Remuneration of employees are flexible and fair. Employees get the fee as per their performance in achieving the goals of the company

Why it has increased in today’s time 

An organisations goals is to increase profits which helps to increase the national income of the country 

There are many unemployed youth who seeks for proper jobs these private sector acts as a guide to these youth to achieve their career

Also increase in industrial areas and technology has lead to increase in public sector

Public sector’s contribution of gross domestic product (GDP) has increased in last decades 

Why public sector is important to our economy ?

Private sector plays an important role in country’s economy and national income 

Company provides goods and services and these taxes are paid to the government which will help in development

Main goal of any private sector is to achieve its organisational goals which mainly focuses on increasing profits and avoid any chances of loss

Conclusion

Private sector helps in development of our economy through jobs , taxes , goods and services , employment opportunities, technology ect. 

It has made a huge impact on the economic growth of our country. 

There are many organisations who are actively looking for youngsters in employment which leads to decrease in unemployment and serves as a opportunity for those youth to build up their career.