How can government exercise control over public corporation?
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In the State establishing the Corporations it is often provided that their annual reports should be submitted to the Government of India giving an account of the activities and then laid before both the Houses of Parliament.
Under the Insurance Corporation Act, 1956, besides the auditor’s report and annual report, the report of the actuaries containing the result of an investigation made by the actuaries into the financial condition of the business of the Corporation should also be so laid.
The Parliamentary control over the function of the statutory corporations is confined to broad featured criticism and day to day functioning is outside the purview of such control. The member’s right to ask questions about the public undertakings and general debates especially the budget debate provide the occasions for such criticism.
Under the Insurance Corporation Act, 1956, besides the auditor’s report and annual report, the report of the actuaries containing the result of an investigation made by the actuaries into the financial condition of the business of the Corporation should also be so laid.
The Parliamentary control over the function of the statutory corporations is confined to broad featured criticism and day to day functioning is outside the purview of such control. The member’s right to ask questions about the public undertakings and general debates especially the budget debate provide the occasions for such criticism.
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