PSU FULL FORM
Full Form of PSU : The full form of PSU is Public Sector Undertaking
What is the Full form of PSU?
No:1. The full form of PSU is Public Sector Undertaking. State-owned corporations or enterprises in India are recognized as PSUs.
No:2. The government introduces PSUs under its sign and standard for carrying out commercial work.
No:3. 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.
No:4. The central or state government manages most of the company’s equity in PSUs that are having 51 per cent or more.
No:5. The CAG (Comptroller and Auditor General ) of India monitors all PSU’s.
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A Brief History of PSU
No:1. It was mostly an agricultural country with a fragile industrial foundation when India acquired independence in 1947.
No:2. In 1948, the 1st Industrial Policy Resolution proclaimed and set down a comprehensive outline of the industrial development policy and method.
No:3. 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.
No:4. Dr V. Krishnamurthy, regarded as the Father of Public Sector undertakings in India, took Nehru’s dream forward.
PSU’s category
One can classify PSU’s into 3 groups which are given below :
No:1. PSEs – Public Sector Enterprises
No:2. CPSEs – Central Public Sector Enterprises
No:3. PSBs – Public Sector Banks
Some Famous PSU’s of India
No:1. CIL – Coal India Limited
No:2. HPCL – Hindustan Petroleum Corporation Limited
No:3. BHEL – Bharat Heavy Electricals Limited
No:4. FCI – Food Corporation of India
No:5. SBI – State Bank of India
No:6. SAIL – Steel Authority of India Limited
No:7. GAIL – Gas Authority of India Limited
No:8. NTPC – National Thermal Power Corporation
No:9. PGCI – Power Grid Corporation of India
No:10. MTNL – Mahanagar Telephone Nigam Limited
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