PSU Full Form

What is the Full form of PSU?

1) The full form of PSU is Public Sector Undertaking. State-owned corporations or enterprises in India are recognized as PSUs. The government introduces PSUs under its sign and standard for carrying out commercial work. Such state-owned companies are less apprehensive about profit-making and much more oriented on the nation-building directions and developing and expanding the nation’s economy.

The central or state government manages most of the company’s equity in PSUs that are having 51% or more. The CAG (Comptroller and Auditor General ) of India monitors all PSUs.

History of PSU

  • It was mostly an agricultural country with a fragile industrial foundation when India acquired independence in 1947.
  • In 1948, the first Industrial Policy Resolution proclaimed and set down a comprehensive outline of the industrial development policy and method.
  • India’s second five-year plan (1956–60) and the 1956 Industrial Policy Resolution highlighted the creation of state-owned enterprises to comply with the Nehru’s national strategy of industrialization.
  • Dr V. Krishnamurthy, regarded as the Father of Public Sector undertakings in India, took Nehru’s dream forward.

PSUs category

One can classify PSUs into three groups

  • PSEs – Public Sector Enterprises
  • CPSEs – Central Public Sector Enterprises
  • PSBs – Public Sector Banks

Famous PSUs of India

  • CIL – Coal India Limited
  • HPCL – Hindustan Petroleum Corporation Limited
  • BHEL – Bharat Heavy Electricals Limited
  • FCI – Food Corporation of India
  • SBI – State Bank of India
  • SAIL – Steel Authority of India Limited
  • GAIL – Gas Authority of India Limited
  • NTPC – National Thermal Power Corporation
  • PGCI – Power Grid Corporation of India
  • MTNL – Mahanagar Telephone Nigam Limited

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