there is no political interference in statutory corporation?justify
Answers
Answer: 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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Explanation:
1) A Statutory Corporation is an autonomous corporate body created by the special Act of the parliament or state legislature with defined powers, functions and duties.
2) State helps Statutory corporation by subscribing to its capital. It's employees are not government servants. A Statutory corporation comes into existence by following particular act.
3) Therefore there is no political interference in formation working and administration of a Statutory corporation.
4) They are detached with the government. They have to pass the report to the central as well as state government. Statutory corporation enjoys administrative autonomy.
Therefore, all Statutory corporation are free from political interference.
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