Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR3 Marks
Question
State and explain government companies.
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Answer
Government company:
A company owned by central and/or state government is called a government company. It operates as per the Company Law, $2013.$
Either whole of the capital or majority of the shares are owned by the government. In some cases, private investment is also encouraged but at least $51\%$ shares are held by the government.
These units do not work under direct control of government.
Example:
Hindustan Machine Tools, Oil and Natural Gas Limited, Indian Oil Corporation, etc
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