Assertion: After independence, the state helped the private sector to make a profit.
Reason: The state intervened only in those areas where the private sector was not prepared to go.

Both the Assertion and the Reason are correct and the Reason is the correct explanation of the Assertion.

Then there were critics who thought that the state did not do enough. They pointed out that the state did not spend any significant amount for public education and healthcare. The state intervened only in those areas where the private sector was not prepared to go. Thus the state helped the private sector to make a profit