Which of the following statements best defines joint sector industries?

Correct option is A

The correct answer is (a) They are jointly owned by the public and private sectors.
• Joint sector industries involve shared ownership between government and private entities.
• They combine public accountability with private efficiency.
• This model was promoted during India’s mixed economy phase.
Information Booster:
• The joint sector concept gained prominence during the Second Five-Year Plan.
• It aimed to prevent concentration of economic power.
• It was used in heavy industries and infrastructure sectors.
Additional Knowledge:
• Panchayat-run units fall under local self-government.
• Foreign-financed units belong to the private or FDI sector.
• SHGs operate mainly in the informal or cooperative sector.