What is government owned companies? I. They are primarily meant to provide essential services such as railways. II. They are public enterprises that came into existence by a Special Act of the Parliament. III. They are companies in which 51% or more of the paid up capital is held by the central or any state government (partly or wholly by both). IV. They are set up whenever it is felt that certain functions need to be discharged outside the governmental set up with some amount of independence and flexibility without day-to-day interference from the governmental machinery

• A. Only III                        
• B. I & III
• C. Only II                         
• D. None of the above