Question

Difference between departmental undertaking statutory corporation and government companies

Answer 1

Statutory Corporation:

This type of organization is formed by passing a special act of Parliament. It is an initiative of private enterprises.

It is completely owned by the state.

Departmental Undertaking:

It is a department which works under a minister and ensures high degree of public accountability.

It is completely owned by government.

Government Company:

This form of organization gets established under the Indian Companies Act of 1956.

In this at least 51% of the share is owned by the central government or partly by both; central and state.