Question

2] “This form of Government enterprises comes into being because of the special

act passed by the Parliament.” Which enterprise is referred here? Explain any

two merits of it.​

Answer 1

Answer:

⚛️Statutory corporation.

The statutory corporations are public bodies which are regulated by a statute. E.g. RBI, SBI . etc. Hence, an enterprise incorporated by a Special Act of Parliament or the state legislature intending to carry on some business of national importance is called statutory corporation.

Two merits of statutory corporation :⬇️

• . Secures working efficiency: Such corporations provide better amenities and more attractive terms of service to its employees which helps in reducing the labour problems. It, thus, helps in securing greater working efficiency.
• Initiative and flexibility: A statutory corporation manages and operates its affairs independently, without any government’s interference, with its own initiative and flexibility.

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