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A statutory corporation is described as a valuable instrument for economic development because it combines government power with:
APrivate enterprise initiative
BForeign exchange reserves
CMunicipal tax collection
DCooperative society rules
Answer & Solution
Correct answer: A. Private enterprise initiative
1. It is autonomous and flexible.
2. It frames its own policies within the Act.
3. So it joins state power with private initiative.
_Source: NCERT Class 11 Business Studies, Chapter 3, Private, Public and Global Enterprises._
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