What are the main forms of organization in the private sector?

The main forms of organization in the private sector include sole proprietorship, partnership, joint Hindu family, cooperative, and company.

The public sector is primarily owned and managed by ___?

The public sector is primarily owned and managed by the government.

True or False: The 1991 Industrial Policy Resolution restricted foreign direct investment in India.

False. The 1991 Industrial Policy Resolution invited foreign direct investment in India.

Fill in the blanks: The government defines the areas in which both the private and public sectors are allowed to operate through ___ policy resolutions.

Industrial

Riddle: I can be owned by individuals or groups and operate in various forms such as partnerships or cooperatives. What am I?

Private sector organizations.

What role does the government play in the economy through public sector enterprises?

The government participates in economic activities and regulates the operation of both private and public sectors through public sector enterprises.

True or False: Global enterprises operate exclusively within their home country.

False. Global enterprises operate in multiple countries.

True or False: Employees of Departmental Undertakings have different recruitment and working conditions compared to regular government employees.

False; they have similar recruitment and working conditions.

Riddle: I am part of a ministry and operate like any government department, funded by the budget. What am I?

Departmental Undertaking.

Fill in the blank: Public enterprises are accountable to the public through ___.

The Parliament.

What is the role of public enterprises in the economy?

They participate in economic activities and are owned by the public.

What is the primary objective of ensuring Parliament's control over public enterprises?

To maintain effective oversight and public accountability.

Statutory corporations are established by ___ and enjoy ___ in their operations.

A Special Act of Parliament; a significant amount of private-sector operating flexibility.

True or False: Government companies must adhere to the same accounting and auditing norms as private companies.

False; government companies are exempt from certain accounting and auditing norms.

Fill in the blank: Government companies are defined as companies in which the government holds at least ___ percent of the paid-up capital.

51

What limitation is often faced by public enterprises regarding decision-making?

Employees and heads of departments cannot make independent decisions without ministry approval.

Riddle: I am formed under a special act, enjoy operational independence, yet my actions are governed by rules. What am I?

A statutory corporation.

What are the consequences of bureaucratic caution in public enterprises?

It prevents organizations from taking risks and embarking on innovative initiatives.

True or False: Government companies can sue and be sued in a court of law.

True; government companies have legal standing to engage in litigation.