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Define the term public Enterprises

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Define the term public Enterprises

Posted by Shalvi Chaturvedi 6 years, 4 months ago

CBSE > Class 11 > Business Studies

2 answers

Sia ? 6 years, 4 months ago

Public enterprise is a business organization wholly or partly owned by the state and controlled through a public authority.

Lalit Agarwal 6 years, 4 months ago

Public Enterprise or Statutory Corporations brought into existence by a special Act of the Parliament or State Legislature or Central legislature. And it defines rules,regulations,powers,etc. Examples: RBI, UTI, etc. Features: 1. Set up under an Act of Parliament 2. Wholly owned by the State 3. It is Statutory Corporation, it can be sued and can sued others 4. This type of enterprise is usually self- financed 5. It is not subject to the same Accounting and Audit Procedures 6. Employees are not Government Servants

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