Define the term public Enterprises

1.	Define the term public Enterprises
Answer» Public enterprise is\xa0a business organization wholly or partly owned by the state and controlled through a public authority.<br>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 State3. It is Statutory Corporation, it can be sued and can sued others4. 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

Discussion