Distinguish between public sector and private sector.

The following are the major differences between public sector and private sector: Public Sector is a part of the country's economy where the control and maintenance are in the hands of Government. If we talk about Private Sector, it is owned and managed by the private individuals and corporations. The aim of the public sector is to serve people, but private sector enterprises are established with the profit motive. In the public sector, the government has full control over the organizations. Conversely, Private Sector companies enjoy less government interference. The employees of the public sector have the security of the job along with that they are given the benefits of allowances, perquisites, and retirement like gratuity, pension, superannuation fund, etc. which are absent in the case of the private sector. In the private sector, the working environment is quite competitive which is missing in the public sector because they are not established to meet commercial objectives. In general Public Sector uses Seniority for promoting employees, however, merit cum seniority is also taken as a base for promoting employees. Unlike Private Sector, where performance is everything, and so merit is considered as a parameter to promote them.

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Public sector (1)limited jobs(2)secure the jobs(3)limited times(4)limited age of services (4)only for social welfare                                      private sector (1)unlimited jobs(2)unsecure the jobs(3)unlimited works(4)unlimited age of services (5)only for earn profit

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Public sector refers to government-owned organizations and government-provided services. Example - ONGC, Indian Railway etc. Private sector refers to:

1) Organizations that are not government owned, and

2) The goods and services provided by organizations outside of the government. For example, companies owned by individuals are part of the private sector. Even the largest corporation with its common stock publicly-traded on the Bombay Stock Exchange is part of the private sector.

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The public sector is usually composed of organizations that are owned and operated by the government. This includes federal, provincial, state, or municipal governments, depending on where you live. The private sector is usually composed of organizations that are privately owned and not part of the government. These usually includes corporations (both profit and non-profit) and partnerships.An easier way to think of the private sector is by thinking of organizations that are not owned or operated by the government. read less