Q.What is meant by Public Corporations?

A public corporation is a government enterprise set up by a special statute; it is state-owned yet autonomous, and has a legal identity separate from the government.

A public corporation, also called a statutory corporation, is one of the forms of government (public sector) organisation. Its features are:

1. Created by a special Act — it is brought into existence by a special Act of Parliament or a State legislature, which defines its powers, objectives and duties.
2. Separate legal entity — it is a body corporate; it can own property, enter into contracts and sue or be sued in its own name.
3. Government ownership — its entire capital is provided by the government.
4. Autonomy — it is free from day-to-day government and parliamentary interference and is managed by a board, so it can run on commercial/business lines. …