Which of the given sectors is largely driven by considerations of social welfare?

Question

Question

This question was previously asked in

SSC CGL 2022 Tier-I Official Paper (Held On : 01 Dec 2022 Shift 2)

Answer 1

The correct answer is Public

Key Points

The general definition of the public sector includes government ownership or control rather than mere function and thereby includes, for example, the exercise of public authority or the implementation of public policy.
PSUs (Public Sector Undertakings) are government-owned corporations in India, in which 51% or more than 51% of the paid-up share capital is owned by the government of India.
However, it can be only the central government or only state government of any state or central government with any state government or state governments.

Important PointsPublic Sector undertakings (PSU) can be classified into three following categories:

Central public-sector Enterprises (CPSEs) – Companies that are under the direct control of the Central Government or of other CPSEs by 51% or more than 51% of capital share ownership.
Central Public-Sector Enterprises (CPSEs) are further classified into Strategic CPSE and Non-strategic CPSE.
Strategic Central Public-sector Enterprises (CPSEs) which includes the Arms & Ammunition and the defense equipment’s, defense aircraft and other items related to Defense, and in the field of atomic energy and Railways transport.
The rest of the CPSEs are regarded as Non-strategic CPSE.
Public Sector banks (PSBs) – Banks that are under the direct control of the Central Government or of other PSBs by 51% or more than 51% of capital share ownership.
State Level Public Enterprises (SLPEs) – Companies that are under the direct control of the State Government or other SLPEs by 51% or more than 51% of capital share ownership.