Question

The enterprises like BHEL, GAIL, SAID, etc. are known as__
a) Public sector enterprise
b) Joint sector enterprises
c) Private sector enterprises
d) Cooperative sector enterprises

Answer 1

Hint: A business enterprise is an undertaking of activities relating to the manufacturing, selling or distribution of goods or services. As a sole proprietor, partnership, organization, limited liability company or other form of business association, a business enterprise may be run.

Complete Answer:
Option a), the term undertaking or enterprise in the public sector refers to a government corporation. ... On the other hand, public sector companies apply to those companies incorporated under the Companies Act, 1956, which are primarily government owned and controlled by a chairman and managing director appointed by the government. Ex: BHEL, GAIL, SAIL

Option b), is incorrect. The private sector or corporation is an organization owned by a private group or an entity. A corporation, sole proprietorship, cooperative, and business are different forms of companies under private enterprises.

Option c) is an incorrect answer. The aim of the joint sector enterprises is to be a form of collaboration between the private sector and the government, in which state equity stakes are not less than 26%, and day-to-day management is generally in the hands of the private sector.'

Option d) is an incorrect answer. Cooperatives are people-centered businesses that are owned, regulated and managed by and for their members to realize their shared economic, social and cultural needs and aspirations.

Hence, the correct answer is option a).

Note: In India, in 1973, the Foreign Exchange Regulation Act (FERA) was a law that enforced strict restrictions on certain forms of payments, foreign exchange (forex) and securities transactions, and transactions that had an indirect effect on foreign exchange and currency imports and exports. It is the biggest project in the public sector.