What are the different kinds of organisations that come under the public sector?
Answers
Answer:
The different kinds of organisation that come under the public sector are as follows :
Departmental organisation :
It is an organisation established, financed and managed by the Government as one of its departments. Defence establishments, broadcasting services, Railways, Post and telegraph are few examples of such organisation. It is the oldest form of managing public enterprise.
Public corporations :
It is a body with a separate existence which can sue and be sued and is responsible for its own finance. Public corporation are thought to be the ideal form of business because in the words of late President Roosevelt, “These are the clothed with the power of Government but possessed of the flexibility and initiative of private enterprise.”
Government companies :
Government company is a type of public sector. It is owned and controlled by the Government. The main objective of a public sector is to promote public welfare. It is a corporate body created under companies Act.
Example of Government companies are : Coal authority of India, Bharat heavy electricals Limited,etc
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Answer:
The forms of organisations that come under public sector are
(i) Departmental Undertaking These enterprises are established as departments of the ministry and are considered as part or an extension of the ministry itself. These undertakings may be under the Central or the State Government.
For examples, Railways and Post and Telegraph Department.
(ii) Statutory Corporation Statutory corporations are public enterprises brought into existence through a Special Act of the Parliament, which defines its powers and functions. It is a financially independent corporate body created by the legislature and has a clear control over a specified area or a particular type of commercial activity.
(iii) Government Company According to the Indian Companies Act, 1956, a government . company means any company in which at least 51 % of the paid up capital is held by the Central Government or by any State Government or partly by Central Government and partly by one or more State Governments. These are established purely for business purposes.