Can You Explain The Advantages Of A Nationalized Industry?


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amber Jhon answered
There are a number of advantages of nationalized industry. I am explaining some of the most significant positive aspects. Basically, nationalized industry can hinder the creation of industrial monopoly, which is usually created when the wealth goes in few hands. Secondly, nationalized industry can also bring about a positive impact on the agricultural sector in most of the nationalized countries because government has more revenues to spend on this sector.

Thirdly, if there is nationalization in any industry then the savings of the government banks are increased as compare to the private banks. Fourthly, in the private industries, industrialists try to avoid income tax and therefore, keep their money as black money. However, this cannot happen in the nationalized industries. Moreover, economic growth is also boosted when the industries are nationalized.

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