Question

Which of the following is not a merit of a statutory corporation.
i)They are autonomous organisation
ii)They are a valuable instrument for economic development
iii)Where national security is concerned this form is the most suitable iv)The government generally does not interfere in their financial matters

Answer 1

Answer:

Statutory Corporations

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.