Food Corporation of India (FCI) was established through a special Acts. passed in Parliament in 1964 with the objective to create buffer stocks of foods like wheat, rice, etc. for emergency situations like drought, flood famine, etc. i) Which type of public sector enterprise is discussed above? ii) Do such enterprises have separate legal entities? iii) Who provided the initial capital to such enterprises? iv) Write any 2 demerits of such an organization.
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Government Company] (Hints Food Corporation of India (FCI) was established through special Act. passed in Parliament in 1964 with the objective to create buffer stocks of foods like wheat, rice etc. ... s: Government Company] (Hints Food Corporation of India (FCI) was established through special Act.
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Answer : 1) Public corporation / statutory corporation.
2) It is a separate legal entity. It gets incorporated auto-matical when act till. Government Companies. is passed in the parliament.
3) Government companies.
4) 1.Autonomy on paper only
2.lack of Initiative.
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