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Role of Govt Towards Business

The document outlines the key roles and responsibilities of government towards business, which include enacting and enforcing laws to regulate businesses, maintaining law and order, providing monetary systems and basic infrastructure like transportation and power, supplying useful information to businesses, assisting small-scale industries, transferring technology from government research, conducting inspections, and providing incentives to domestic industries.

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91 views2 pages

Role of Govt Towards Business

The document outlines the key roles and responsibilities of government towards business, which include enacting and enforcing laws to regulate businesses, maintaining law and order, providing monetary systems and basic infrastructure like transportation and power, supplying useful information to businesses, assisting small-scale industries, transferring technology from government research, conducting inspections, and providing incentives to domestic industries.

Uploaded by

pilot
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Role of govt towards business

1. Enacting and Enforcing Laws

Enacting and enforcing laws is the prime responsibility of the Government of each country. This is
because laws and regulations only enable the businesses to function smoothly. Further, Government
provides a system of court for adjudicating differences between firms, individual or Government
agencies.

2. Maintaining Law and Order

Maintaining law and order and protecting persons and property is another responsibility of the
Government of the country. It would be impossible to carry on business in the absence of a peaceful
atmosphere.

3. Providing Monetary System

The Government has to provide monetary system so that business transactions can be effected.
Further, it is also the responsibility of the Government to regulate money and credit, and protect the
money value of the currency in terms of other currencies.

4. Balanced Regional Development and Growth

It is the responsibility of the Government to make sure that there are balanced regional
developments and growth.

5. Provision of Basic Infrastructure

Government should provide basic infrastructural facilities such as transportation, power, finance,
trained personnel and civic amenities, which are indispensable for the effective functioning of
business concerns.

6. Supply of Information

It is the responsibility of the Governments to provide information, which is useful to businessmen in


carrying out their business activities. Government agencies publish and provide a large volume of
information, which is used extensively by business firms. This information normally relates to
economic and business activity, specific lines of business, scientific and technological developments,
and many other things of interest to business houses or business leaders.

7. Assistance to Small-scale Industries


It the responsibility of the Government to provide the required facilities and encourage the
development of small-scale industries to overcome the problem faced by them.

8. Transfer of Technology

It is the responsibility of the Government to transfer to private industries whatever discoveries are
made by the Government – owned Research Institutions so that they can be used for commercial
production.

9. Conducting Inspections

It is the responsibility of the Government to inspect the private business concerns in order to make
sure that they produce quality products, and also to prevent the production and sale of sub-standard
goods.

10. Incentives to Home Industries

It is the responsibility of the Government to encourage the development of home industries by


providing them various incentives and subsidies.

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