Argue in favour of the need for different forms of government intervention in education and health sectors.

Education and healthcare services play a vital role in socio-economic welfare for the masses. Government intervention is essential as spending on these sectors has long-term, irreversible impacts. Moreover, consumers often lack complete information about service quality and costs, leading to monopoly power and potential exploitation by private providers. To avoid this, the government must regulate these services, ensuring adherence to standards and fair pricing. Hence, it is imperative for the government to make these essential services accessible to all sections of society.