Question

explain statutory corporation​

Answer 1

A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government with or without other shareholders, or they might be a body without shareholders that is controlled by national or sub-national government to the (in some cases minimal) extent provided for in the creating legislation.

Bodies described in the English language as "statutory corporations" exist in the following countries in accordance with the associated descriptions (where provided)

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Answer 2

A statutory corporation is also known as a public corporation it is formed by a special act of state or centre govt . It is a separate body as it can be sued or can sue . It can select employees on the basis of its own rules . It can take loan from the public to finance itself . It can take prompt decision due to less govt interference