Definition of State Enterprise
If the state gets the ownership on continual at any business directly or indirectly incest it that business is called as the state enterprise. The business controlled or operated by the government is known as a state enterprise. It can be either formed by the government or the government may take the ownership and custody of any private company. The main objective of this business is to make sure the welfare of the people as used as a proper distribution of wealth.
Expansion of state enterprise is a part of government planning and policy and taking continual or ownership of prevail industry as well as the business by rationalization. So state enterprise is not only meant that is formed by government dinette suit also by rationalization to private companies for taping the ownership and control over it.
Different definitions were given by different authors or writers they are given below:
Professor Hanson: “State Enterprise is the operation of commercial or industrial organization undertaken by the state”.
Bissownath Ghosh: “State enterprise is the business which is owned and controlled by the state.”
Professor Mukherjee: “The business which is owned and controlled by the state or government is called state enterprise.”
From the above discussion, we can say that the state enterprise refers to those businesses which are partly or wholly owned and controls by the government. The revenue of this business spends for the public welfare.
