Social and public sector

Social sector is a partially non-profit and partially non-governmental sector, with the aim of development of the overall society in which we live. It basically comprises of Education, Health and Nutrition, Financial, Sanitation and Rural development Sectors. It can be viewed as having 2 approaches:

Human Resource Development Approach
Human Development Approach

Public sector is a governmental sector, with the aim of providing services for the benefit of the whole society. It basically comprises of public services and public enterprises such as military, law enforcement, infrastructure, public transit, public education, health care, etc. It has 3 levels:

Federal or National
Regional (State or Provincial)
Local (Municipal)

Social and Public Sector Aim

Social Sector and Public Sector, both aim at serving the basic needs of the society and contribute in the economic development of the nation. The Covid-19 pandemic has given a greater opportunity to these 2 sectors to collaborate and work together. So, the NGO (Non-governmental organizations) or NPO (Non-profit organizations) and the Governmental organizations are working together to deal with the situation for the benefit the society as a whole.

Enlisted below are some of the important aspects related to Social sector and Public sector:

Particulars	Social sector	Public sector
Entities covered	NGOs and NPOs in the form of trusts, section 8 company formed under the Companies Act, 2013, charitable institutions, etc.	Public companies formed under the Companies Act, 2013, Public sector undertakings (PSU), etc.
Source of funds for these sectors	Individual donations, Online fundraising, Fundraising through events, Charity, Government grants, Corporate sponsorships, Membership fees, Sale of goods/ services, Loan financing	Taxes under various laws, Local taxation rates, Government fee for various compliances, License fees, Fines and penalties, Voluntary contributions, Borrowings from public and foreign agencies in the form of bonds, deposits, etc., Profit of the public sector units (like railways, utility services, commodities like life saving drugs, etc.)
Benefits of working under these sectors	Opportunity to participate in problem solving process of the issues of the society and country Satisfaction of working for a cause Personal growth No qualification required to serve the society Diversity of roles in work like research, advocacy, consultancy, etc. Tax exemptions	Job Security Good salary with additional incentives and commissions, free medical facilities, retirement benefits, etc. Continuous source of income even after retirement Easy loans at minimal rates Opportunity to serve the nation and contribute to it's economic growth Tax exemptions
Major players in these sectors	Avishkar Fund, Aga Khan Foundation, Incube Ventures, Sir Dorabji Tata Trust, Oxfam India, Ford Foundation, Pratham Foundation, Pradan, S M Sehgal Foundation	Oil & Natural Gas Corporation Ltd.(ONGC), Indian Oil Corporation Ltd., NTPC Ltd., Coal India Ltd., Power Grid Corporation of India Ltd., Bharat Petroleum Corporation Ltd., Power Finance Corporation Ltd., Mahanadi Coalfields Ltd., Hindustan Petroleum Corporation Ltd., Gail (India) Ltd.

In the current situation, to contribute to the growth of economy of our country, social sector and public sector should plan and follow an approach which may include the following aspects:

Collaboration of both the sectors
Focus on serving the society with the help of technological advancements
A well planned strategic policy
A well planned monetary and banking policy
Achieve the goal of serving the society within specified monetary limits
Hire people with actual talent and skills
Focus on environmental protection and social welfare

How Upajivan helps your business?

We help you register your NGOs or NPOs in the form of trusts, Section 8 companies or charitable institutions.
We help you register the public companies under the Companies Act, 2013 or public sector undertakings.
We help you raise funds for your NGOs or NPOs.
We help you manage your business funds.