Private sector is that type of business units which are carried out with the motive of earning profits.

Departmental undertaking is the oldest and traditional form of organising public sector enterprises. 

Public sector enterprises are responsible for the development of the economy.

False. LIC has the sole authority to use its revenue as it deems fit. 

False. Volvo and Eicher's total sales increased dramatically after entering into the joint venture. 

True. It was only after signing the JV that, Eicher could reach markets in Nepal, Bangaldesh, and Sri Lanka. 

True. Departmental enterprises are established as departments of the ministry and are considered part or an extension of the ministry itself. The Government functions through these departments. 

Public Sector Enterprises are organisations owned by Government. 

False. LIC is an Indian state-owned insurance group and investment company headquartered in Mumbai. 

False. The parliament has direct control over the working of departmenal undertakings.