Yes, I agree that Multinational Companies have done more harm than good. It is clear from the following disadvantages which it is creating for the economy.
1. It disregards national priorities.
2. It leads to creation of monopoly.
3. It leads to depletion of natural resources.
4. It leads to technology obsolete .
5. It creates threat to national sovereignty.

The changing role of public sector is clear from the following trends:
1. Restricting the role of public sector only to critical areas: The reservation of industries exclusively for the public sector has been reduced from 17 to 8 and further to 3 only.
2. Performance improvement through Memorandum of Understanding (MOU): Under this government lays down performance targets for the management and gives greater autonomy to hold the management accountable for the results.
3. Disinvestment: Equity shares of public sector enterprises were sold to private sector and the public. It was expected that this would lead to improved managerial performance and better financial discipline.
4. Restructure and Revival: All public sector sick units were referred to Board of Industrial and Financial Reconstruction (BIFR). Units which were potentially viable were restructured and which could not be revived were closed down by the board.

These are established as departments of the ministry and are financed, managed and controlled by either central government or state government. Examples: Indian railways, post and telegraph.
Features
1. No separate entity: It does not have separate legal entity.
2. Finance: It is financed by annual budget allocation of the government and all its earnings go to government treasury.
3. Accounting and Audit: The government rules relating to audit and accounting are applicable to it.
4. Staffing: Its employees are government employees and are recruited and appointed as per government rules.
5. Accountability: These are accountable to the concerned ministry.
Merits
1. It is more effective in achieving the objective laid down by government as it is under the direct control of govt.
2. It is a source of government income as its revenue goes to government treasury.
3. It is accountable to parliament for all its actions which ensures proper utilisation of funds.
4. It is suitable for activities where secrecy and strict control is required like defence production.
Demerits
1. It suffers from interference from minister and top officials in their working.
2. It lacks flexibility which is essential for smooth operation of business.
3. It suffers from red tapism in day to day work.
4. These organizations are usually insensitive to consumer needs and do not provide goods and adequate service to them.
5. Such organisations are managed by civil servants and government officials who may not have the necessary expertise and experience in management.

Differences between public and private sectors are summarised in the table given below:

The government is responsible for developing all regions of a country. Earlier, most of the development was limited to few areas like port towns. For providing employment to the people and for accelerating the economic development of backward areas many industries were set up by public sector in those areas.
1. Four major steel plants were set up in the backward areas to accelerate economic development.
2. The government also makes efforts to prevent mushrooming growth of private sector units in already advanced regions.
3. Government provided many incentives to private sector like tax concessions, loan at cheap rate of interest etc. to motivate them to set up industries in backward regions.

Government company form of organization is preferred to other forms of organizations due to it advantages over other forms. These advantages are as follows:
1. It is registered or incorporated under Companies Act.
2. It has a separate legal entity.
3. Management is regulated by the provision of Companies Act.
4. Employees are recruited and appointed as per the rules and regulations contained in Memorandum and Articles of Association.
5.The government company obtains its funds from government shareholdings and other its private shareholdings. It can also raise funds from capital market.
6.It can be easily formed as per the provision of Companies Act. Only an executive decision of government is required.
7.It enjoys autonomy in management decisions and flexibility in day to day working.
8.It can appoint professional managers on high salaries.

Some of the enterprises under the public sector are as follows:

Following are the different kinds of organizations that come under the private sector.
1. Departmental Undertaking: This is the oldest and traditional form of public enterprises. It is managed by government officials as one of the government departments. It is under the control of concerned minister of the department, who is answerable to government through parliament
2. Statutory Corporation: Statutory Corporation is a corporate body with a separate legal existence, set up under a special act of parliament or of the state legislature.
3. Government Company: According to the Indian Companies Act 1956, a government company means any company in which not less than 51 per cent of the paid up capital is held by the government or by any state government or partly by central government and partly by one or more state governments.

Various types of organizations in the private sector include:
1. Sole Proprietorship: Sole proprietorship refers to a form of business organization which is owned, managed and controlled by an individual who is the recipient of all profits and bearer of all risks.
2. Hindu Undivided Family Business: It refers to a form of organization wherein the business is owned and carried by the members of the Hindu Undivided Family (HUF).
3. Partnership: Partnership is the relation between persons who have agreed to share the profit of the business carried on by all or anyone of them acting for all.
4. Cooperative Society: Cooperative society is a voluntary association of persons, who join together with the motive of welfare of the members.
5. Joint Stock Company: A company is an association of persons formed for carrying out business activities and has a legal status independent of its members.
6. Multinational Corporations: An MNC is a company whose business operations extend beyond the country in which it has been incorporated.

Private sector consists of business owned by individuals or a group of individuals. Examples of private sector include sole proprietorship, partnership, Joint Hindu Family system, cooperative and company. On the other hand, the public sector consists of various organizations owned and managed by the government, owned either wholly or partly by the central or the state government. These may be part of a ministry or come into existence by a special act of the parliament.
Public sector works for social welfare while private sector works for profit motive.
Public sector organizations may take form of departmental undertaking, statutory corporation and a government company. Private sector may take form of sole proprietorship, partnership, Joint Hindu Family, company or a cooperative.