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प्रश्न
Attempt the following.
Merits of Statutory Corporation.
Explain the merits of a statutory corporation.
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उत्तर
The merits of a statutory corporation are as follows:
- Internal Autonomy: Statutory corporations enjoy substantial autonomy in their daily operations, free from political interference by ministers and bureaucrats. This autonomy allows boldness, enterprise, and flexibility that government departments often lack.
- Quick Decisions: They can take prompt decisions and quickly adapt to changes in technology and market conditions because they are free from prohibitory government rules on public expenditure. This reduces red tape and bureaucratic delays.
- Motivation: Employees in statutory corporations typically have better service conditions than government servants, providing greater incentives for hard work and performance.
- Parliamentary Control: Their performance is subject to scrutiny and discussion by Parliament, which ensures accountability and the proper use of public funds. The service motive protects consumer interests.
- Efficient Management: Boards often include professionals and experts from various occupations, enabling business-like management. They can borrow money from the public to finance expansion without undue delay.
- Economies of Scale: Usually large and often monopolistic, statutory corporations benefit from economies of large-scale operations. They enjoy stability irrespective of government changes and can make long-term policy decisions.
संबंधित प्रश्न
A _________ is an autonomous corporate body created by the special Act of the Parliament or State legislature.
A statutory corporation is answerable to ______ Or state assembly whosoever creates it.
Give one word/phrase/term.
An autonomous corporate body created by the Special Act of the parliament or state legislature with defined powers, functions, and duties.
Give one word/phrase/term.
An organisation which is answerable to parliament or state assembly whosoever creates it.
Give one word/phrase/term.
An organisation which 1s not subject to the budget, accounting and audit controls by the government.
Answer in one sentence.
What is Statutory Corporation?
Explain the following term/concept.
Statutory Corporation.
Study the following case/situation and express your opinion.
A central government passes a statute in the parliament and forms a business organisation which is having autonomy in administration and this organisation is answerable to the legislature.
- Which type of organisation is this?
- Give any three Features of this organisation.
- Give anyone an example of this type of organisation.
State any four features of statutory corporation.
Justify the following statement.
There is no political interference in statutory corporations.
Justify the following statement.
There is professional management in statutory corporation.
Answer the following in detail.
Explain Statutory Corporation and its features.
Answer the following in detail.
Explain merits and demerits of Statutory Corporation.
Match the pairs.
| Group A | Group B |
| A) BHEL | 1) Special Legislature |
| B) Statutory Corporation | 2) 49% paid up capital by govt. |
| C) Departmental Organisation | 3) Service Motive |
| D) Private Sector | 4) Railway |
| E) Public Sector | 5) Profit Motive |
| 6) 51% paid up capital by govt. |
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | BHEL | 1) | Special Legislature |
| B) | Statutory Corporation | 2) | 49% paid up capital by govt. |
| C) | Departmental Organisation | 3) | Service Motive |
| D) | Private Sector | 4) | Railway |
| E) | Public Sector | 5) | Profit Motive |
| 6) | 51% paid up capital by govt. | ||
What is one main role of the Reserve Bank of India as a statutory corporation?
Statutory corporations are accountable to which entity?
