PSU Full Form - Public Sector Undertaking Or Power Supply Unit

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 (1956–61) 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

• SLPEs – State Level Public 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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