1. State Ownership:

The enterprise ownership has to be vested with the State. It could be in the nature of Central, State or local government ownership or any instrumentality of the state too can have the ownership of public enterprise.

2. State Control:

Public Enterprise is controlled by the Government both in its management and functioning. The Government has the direct responsibility to manage the affairs of the enterprise through various devices and exercises control over it by means of a number of agencies and techniques.

3. Public Accountability:

Public Enterprises owe accountability to people as they are funded through public money. This accountability is realised through legislature and its committees, ministers, audit institutions and other specialised agencies.

4. Autonomy:

Public Enterprises function with utmost autonomy under given situations. They are free from day to day interference in their affairs and management.

5. Coverage:

The public enterprise traverses all areas and activities. There is hardly any field of activity, which is not covered by the operations of public enterprises.

That's all☺

Features of Public Sector
1. Ownership and Control
- Public sector organizations are owned and controlled by the government or public authorities.
- The government has a significant stake in the decision-making process of these organizations.
2. Objectives
- The primary objective of the public sector is to provide essential services to the public.
- Profit maximization is not the main goal, unlike the private sector.
3. Accountability
- Public sector organizations are accountable to the government and the public.
- They are required to maintain transparency in their operations and financial management.
4. Social Welfare
- Public sector organizations focus on promoting social welfare and providing services that benefit the society as a whole.
- They often operate in sectors such as healthcare, education, and infrastructure development.
5. Long-Term Planning
- Public sector entities are often involved in long-term planning and projects that may not yield immediate profits.
- Their focus is on sustainable development and the well-being of the community.
6. Stability
- Public sector organizations are relatively stable compared to private companies, as they are less affected by market fluctuations.
- This stability allows them to continue providing essential services even during economic downturns.
7. Employment Opportunities
- The public sector is a significant source of employment, offering job opportunities in various sectors to a large number of people.
- These organizations often provide job security and benefits to their employees.
8. Regulation and Oversight
- Public sector entities are subject to government regulations and oversight to ensure they operate in the public interest.
- They are required to follow specific guidelines and standards set by regulatory authorities.
In conclusion, the public sector plays a vital role in society by providing essential services, promoting social welfare, and ensuring stability in various sectors.