Which Department of Forest Development came into existence on 23 May, 1983 under the Companies Act, 1956?

Solution (By Examveda Team)

The Punjab State Forest Development Corporation Limited came into existence on 23 May, 1983 under the Companies Act, 1956. The objectives of this corporation are to obtain standing trees from the State Forest Department on payment of their price, harvest them with more efficient tools and make timber wood available to right consumers with the object of eliminating unscrupulous middleman and to establish forest based industries.