Conceptually, the concept of Public Value (PV) refers to the value that affects the community or people; the benefits that accrue to the people because of an activity, program or initiative. The notion of public value (PV) has been widely discussed in the literature but mostly in the context of public management, policy or politics. While the government has a significant role as the guarantor of public values, it is not the sole contributor towards public value creation (Jorgensen and Bozeman, 2007). As scholars suggest, Public value is deeply rooted in society and culture, in individuals and groups, and not just in government (Melchior and Melchior, 2001 in Jorgensen and Bozeman, 2007:374). Hence, in a complex and changing environment, policy-makers, public managers, and private, voluntary and informal community sectors must interact to create PV that its recipients perceive as valuable (Bryson et al., 2017).Scholars have defined PV as “an emergent management paradigm that goes beyond the market-oriented view of public management and offers a broad framework to assess the challenges to management caused by network governance” (Stoker 2006: 42), and as a concept that encompasses a strategic framework for public service and reforms (Benington, 2005). While such approaches to studying PV may strengthen the democratic processes, but they do not ensure the authenticity of the value created i.e., they do not ensure that public managers will create value that addresses the needs, challenges and problems of the people for whom it is created. A focus on public policies, implementation of those policies, public outcomes and performance may thus limit the scope of PV creation in the hands of the public alone and present dangers in assessing public value creation. The Strategic framework (Moore, 1995) views public managers as creators of PV, responsible for articulating, legitimizing and authorizing public value. Moore’s framework puts major responsibility for PV creation in the hands of public managers , viewing them as explorers who with others, seek to discover, define and produce public value” (Moore, 1995: 20-21). This view is criticized as it views Public Value creation only through the lens of the Public Managers and thus ignores all other actors who may be involved in the production and the receipt of such value. Moreover, while this perspective on public value holds public managers accountable for striking a balance between what is doable and what is authorized, it may not be achievable, since it ignores other actors who may have a role in PV creation. In line with this criticism, Benington (2009: 233) discusses PV as part of a public sphere; “a democratic space which includes, but is not co-terminus with, the state within which citizens address their collective concerns, and where individual liberties have to be protected.” Therefore, public value is a concept that extends beyond the public and thus adds value to all the actors who are part of the public sphere. This suggests that public value is not just governmental i.e. relating solely to the public. Instead, it is a complex link between the individual and the society through a varied network of relationships (Jorgensen and Bozeman, 2007: 373). Value creation is thus the value of the networks or the relationships between different actors within the public sphere that co-create /produce value.In view of the above, in this paper we argue that a holistic understanding of PV is developed when PV is studied from the creator’s and the recipient’s perspective. From the creator’s perspective, this entails a debate as to whether creation of PV is limited to public management (the government), whose responsibility is to carry out activities that are in the interest of the public managers or whether PV extends to parties who create value that also benefits the people. Alternately, one may discuss the possibility of a third perspective, wherein PV is co-created by both the public and the people in the public sphere. If value relates only to how it is perceived by the people who are affected by it, it must be created with them, keeping in mind their needs and problems and adding value that addresses those needs. Thus, if public creators of value fail to create value that is perceived as valuable in the public sphere, people themselves may take the creators’ role and produce PV through other activities. This further initiates a discussion concerning whether the private sector and individuals have any role in creating PV, whether they can be entrepreneurs of public value, considering that they are part of the public sphere and are affected by it