Write a short note on public sector and private sector.

Business enterprises owned and managed by individuals or group of individuals come under the private sector. For example: Cooperative societies, Sole proprietorship etc.

Enterprises that are managed and owned partly or wholly by the central or state government come under the public sector. Such enterprises are either a part of the concerned ministry or are created by a special act of the parliament. For example: Departmental undertakings, Government companies, Statutory Corporations etc.