Question

Enumerate the forms of public sector enterprises

Answer 1

Public Sector Enterprises are of three types, they are:

Departmental undertakings -

It is formed by Ministry. It has no separate legal existence. These are finance from annual budget. Managed by the government officials. Government servants and Civil Servant codes are applicable.

Public or statutory corporation -

It is formed by an act of parliament or Central or state legislature. It has separate legal existence. They are finance by the government. They are managed by the board of directors. It has separate contract of service.

Government Company -

Government company means any company in which at least 51% of the paid up share capital is held by the central or state government. It is form under Companies Act 1956. It has separate legal existence. It can rise capital through the issue of securities. It is managed by the board of directors. It has separate contract of service.

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