Difference between departmental undertaking statutory corporation and government companies
Answers
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 states.
Departmental organisation:-
the organisation which is owned and managed controlled and financed by government is known as departmental organisation is the oldest form of business organisation departmental organisation performs its all activities as an integral part of government only the minister in charge of ministry is head of this organisation all departmental organisations act through officers of the Government and all the employees are called as the Government employees
Statutory corporation:-
statuary corporation is an autonomous corporate body created by the special act of parliament or state legislature with defined pass functions and duties state help statutory corporation by subscribing to its capital
Government company:-
the company which is registered under the companies act 2013 having minimum 55% of paid up share capital held by the central government or any State government or partly by Central Government and partly by one or more state government is known as government company the shares of government company are published in the name of the President of India and in the name of governor of a state