A system of rules, regulations, courses of action, and financial priorities involving a specific subject that have been established by a governmental body or its representatives is known as public policy.

• Substantive – policies relating to general welfare and community development.

• Regulation – deals with the regulation of trade, business, security measures, etc.

• Distribution – focuses on specific areas of society.

• Redistribution – relating to the reorganisation of policies aimed at affecting social and economic change.

• Capitalization – Under this type of policy, the Union government provides support to various levels of government and other business entities.

Formal and Informal: 

Policy may be formal or informal.

• A formal policy may take the form of a draft policy document that has been discussed, drafted, reviewed, approved, and published by the policy-making body. It could be a national government program on HIV / AIDS, for example.
• An informal policy can be a practical, general, unwritten but widely known method or understanding within an organisation that must be followed by a specific action. Although this policy can be clarified in writing it is still operational.

Public policies are the blueprint of the government’s activities to pursue specific established goals and objectives. While formulating these policies, the governments always keep public interest in mind.