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Question
Justify the following statement.
There is professional management in statutory corporation.
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Solution
- A statutory corporation is able to manage its affairs with independence and flexibility.
- Management of statutory corporation is done without any government interference.
- The statutory corporation is relatively free from red-tapism.
- There is less file work and less formality to be completed before taking decisions.
- The Board of directors of the statutory corporation consists of business experts and the representatives of various groups such as labour, consumers, etc. who are nominated by the government.
- Thus, there is professional management in a statutory corporation.
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| 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 |
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| 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?
Why can statutory corporations easily raise capital for their operations?
