Question

Food corporation of India’s is an example of__ form of public enterprice

Answer 1

A company whose shares are publicly traded and are usually held by a large number (hundreds or thousands) of shareholders. The usual British term is a public limited company. A government-owned company such as an airline or public transit company. See also corporation sole.

examples - 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). Employees State Insurance Corporation (ESIC), Industrial Development Bank of India (IDBI).

Answer 2

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The Food Corporation of India is an organization created and run by the Government of India. It is a statutory body under the Ministry of Consumer Affairs, Food and Public Distribution, Government of India, formed by the enactment of Food Corporation Act 1964 in the Parliament of India. Its top official is designated as Chairman. It was set up in 1965 with its Initial headquarters at Chennai. Later this was moved to New Delhi. It also has regional centers in the capitals of the states. Important regions of the state also serve as district centers.

1. Food Corporations Act, 1964 - interpretation thereof and amendments thereto.

2. Food Corporation Rules - Interpretation of and amendment thereto.

3. Staff Regulations - examination and processing of proposals for amendment with the Ministry of Finance, BPE and other concerned Ministries.

4. Enactment and amendment of various Regulations for FCI, in consultation with the Ministry of Law.

5. Constitution of State/ Union Territory Consultative Committee of FCI and appointment of non-official Members on these Committees and matters relating thereto.

6. Revision of pay, allowances, and other fringe benefits of the employees of FCI, other than of the Departmental Labourers.

7. Matters relating to clarifications sought by FCI on establishment matters including service matters in consultation with Finance, BPE, etc.