Question

Examples of pulic coorporations in india

Answer 1

Public Corporation is a body corporate created by an Act of Parliament or Legislature. Its name is notified in the official gazette of the Central or State Government. It is an artificial person with the flexibility of the private sector and the powers of the government. They are set up with the objective of carrying out a specific type of commercial activity. The powers and functions of public corporations are well defined and they are financially independent. These organizations areformed for administering nationalized industries or undertakings. Many service organizations of the government are set up in the form of corporations.

Examples of Public Corporation

LIC, Food Corporation of India (FCI), ONGC, Air India, Indian Airlines, State Bank of India, Reserve Bank of India, Employees State Insurance Corporation, Central Warehousing Corporation, Damodhar Valley Corporation, National Textile Corporation, Industrial Finance Corporation of India (IFCI), Unit Trust of India (UTI), Tourism Corporation of India, Minerals and Metals Trading Corporation (MMTC) etc are some of the examples of Public Corporations.