In Indian Polity and Civics, you often read about different government organizations being classified as either 'Constitutional Bodies' or 'Statutory Bodies'. Let's understand what a Statutory body means.
Statutory: Created by a law (Act of Parliament). Example: RBI, SEBI.
Constitutional: Mentioned directly in the Constitution. Example: UPSC, Election Commission.
Non-Statutory/Executive: Created merely by a government order, without any specific law. Example: NITI Aayog.
The word 'Statute' simply means a 'Law' passed by the parliament.
Therefore, a Statutory Body is a government organization or agency that is created by an Act of Parliament (or State Legislature).
This is a very important distinction:
A statutory body is a government organization or agency that is created by passing a specific law (an Act) in the Parliament or State Legislature. Examples include the RBI and SEBI.
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