| I. They are primarily meant to provide essential services such as railways. |
| II. They are public enterprises that came into existenc by a Special Act of the Parliament. |
| III. They are companies in which 51% or more of the paid up capital is held by the central or any state government (partly or wholly by both). |
| IV. They are set up whenever it is felt that certain functions need to be discharged outside the governmental set up with some amount of independence and flexibility without day-to-day interference from the governmental machinery |
A) Only I
B) I & III
C) Only II
D) None of the above
Correct Answer: C
Solution :
Statutory corporations are public enterprises that came into existence by a Special Act of the Parliament. The Act defines the powers and functions, rules and regulations governing the employees and the relationship of the corporation with government departments.
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