Question

The Government of India is
interested to establish a public
enterprise which will be brought into
existence by a special Act of the
parliament. Its powers and functions,
rules and regulations governing its
employees and its relationship with
government departments will be
defined by the Act. It will be
considered as a corporate body
having the capacity of acting in its
own name.Name the public enterprise
highligted here:​

Answer 1

Answer:

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Statutory corporations are body corporates formed by a special act of parliament or by the central or state legislature. It is fully financed by the government. Its powers, objects, limitations etc. are also decided by the act of the legislature. Examples include Air India, State Bank of India, Life Insurance Corporation of India etc.

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