What is the Full form of PSU?
The PSU full form is Public Sector Undertaking. State-owned businesses or corporations in India are known as PSUs. to know more about PSU read this article carefully. For commercial work, the government establishes PSUs with its logo and requirements. These state-owned firms are less concerned with making a profit and much more focused on nation-building and the development and expansion of the national economy.
The central or state government manages the majority of the company’s equity in PSUs with a majority stake of at least 51%. All PSUs are monitored by the CAG (Comptroller and Auditor General) of India.
History of PSU
- When India gained independence in 1947, it was predominantly an agrarian nation with a shaky industrial base.
- In 1948, the first Industrial Policy Resolution declared and outlined in detail the industrial growth strategy and policy.
- The second five-year plan of India (1956–1961) and the Industrial Policy Resolution of 1956 emphasized the formation of state-owned firms to meet with Nehru’s national industrialization policy.
- Dr. V. Krishnamurthy, known as the Father of Public Sector Enterprises in India, advanced Nehru’s vision.
Read Other Full Forms
PSUs category
PSUs can be divided into three classes.
- SLPEs – State-Level Public Enterprises
- CPSEs – Central Public Sector Enterprises
- PSBs – Public Sector Banks
Famous PSUs in 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
