Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR3 Marks
Question
Explain public corporations.
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Answer
Public corporations:
An industrial unit owned by either central or state government but established for administering certain public programs or for a specific purpose is called a public corporation.
Government plays the supreme role in the administration and decision of such industries.
Example:
Life Insurance Corporation $(LIC),$ state transport corporation, Air India and fertilizer producing and selling units are examples of public corporations.
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