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Question
Answer in brief.
State any four features of statutory corporation.
Solution
- No political Interference: It enjoys freedom from political parliamentary and government in day-to-day management.
- Own Staffing System: They recruit their own employees and they are not a government servant. Employees' terms and services are not governed by civil service rules.
- Financial Autonomy: Statutory Corporations are financially autonomous. After getting the prior permission from the Government, It can even borrow money within and outside the country.
- Independent Identity: They have an independent identity different from the government. Though the overall business policies are formulated by the government, they have administrative autonomy and hence operational flexibility.
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Select the correct option and rewrite the sentence:
A statutory corporation is answerable to ___________ Or state assembly whosoever creates it.
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Statutory Corporation.
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A central government passes a statute in the parliament and forms a business organisation which is having autonomy in administration and this organisation is answerable to the legislature.
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There is no political interference in statutory corporations.
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There is professional management in statutory corporation.
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Answer the following in detail.
Explain Statutory Corporation and its features.
Answer the following in detail.
Explain merits and demerits of Statutory Corporation.
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
