Write the merits of statutory corporations.
Write the merits of statutory corporations.
1. Operational flexibility: Statutory Corporation is able to enjoy a high degree of flexibility in its operations, as it is free from unnecessary government controls and regulations.
2. Non-interference by the government: The government does not interfere in the financial matters of the organisation, because they are independently financed.
3. Autonomous organisation: Statutory corporations have the autonomy to frame their own policies and procedures within the authority the act granted to them under the special Act of Parliament or by State or Central Legislature.
4. Valuable instrument for economic growth: These enterprises are considered to be an effective instrument for economic development because they have the power of the government along with an initiative of private enterprises.
1. Operational flexibility: Statutory Corporation is able to enjoy a high degree of flexibility in its operations, as it is free from unnecessary government controls and regulations.
2. Non-interference by the government: The government does not interfere in the financial matters of the organisation, because they are independently financed.
3. Autonomous organisation: Statutory corporations have the autonomy to frame their own policies and procedures within the authority the act granted to them under the special Act of Parliament or by State or Central Legislature.
4. Valuable instrument for economic growth: These enterprises are considered to be an effective instrument for economic development because they have the power of the government along with an initiative of private enterprises.
