History of Indian Public Sector Undertakings - PSUs

PSUs

At the time of supposed independence in 1947, there were only undertaking five central public sectors with an investment of just 29 crores in India. Moreover, to provide services to the British rulers was probably mainly an adequate network of railways in India and expand Post and Telegraph Department, was covering the whole country. Today, India has 320 public sector central undertakings with an investment of around 12 lakh crores. About 165 CPSEs have earned a net profit of about Rs 1.5 lakh crore.A net loss of Rs.29000 crore has happened. The number of state PSUs is probably two times more than that. Statistics about the total number of PSUs and their investments are incomplete. But there are indications that at least 1000 states are public sector undertaking with an investment of 4-5 lakh crores. Also, particularly railways, State Street Corporation, the central and state bodies as postage and more. Investments in these are in several lakh crores rupees.

      That is why it is clear that in independent India, the backbone of the industrial development of the country was prepared by the public sector undertakings. Of course, with the changing times, its role is changing. Initially, its purpose was to bring value stabilization and create socio-economic development besides industrial base and infrastructure. Today PSU jobs are considered top notch option by most students in India. They were the real engine of growth in the right way. PSE created employment opportunities during the early years of independence, and contributed massively to the nationalization of ailing textile units and nearby subsidiaries or explore collaborative industry leading groups. Along with economic liberalization in 1991, its role changed, and it became competitive with the global As a result of modernization and better efficiency, employment opportunities were cut. For example, SAIL, which appointed  2 million workers has grown to 80,000 workers and produces more than ever. In Tata Steel , there are seven times more workers than the workers for the production of steel per tone. There are also some other companies like Life Insurance Corporation of India, whose Since nationalization in 1950, the monopoly has remained in its area. He had to face competition after the insurance sector opened for the private sector in the late 1990s.

      Public sector undertakings are now trying to come out slowly from those areas where they are not in a competitive position and are squeezing resources and government treasuries. Air India is a very good example of this. Civil aviation was nationalized in the 1950s. Only the government to provide the airline's flights from operations was to allow mainly for security reasons and on those routes for social purposes which were not beneficial, but there were critical sociological perspectives. With the opening of the aviation sector to the private sector, due to the increased pressure on employees, inefficiency, and debt, Air India could not compete with them to some extent, due to which the government had to provide financial assistance to the government treasury.

Jobs in Prominent PSUs

      There can be no denying that the public sector has played an important role in nation building. In the early years of independence, the public sector entered basic and heavy industries. At that time the private sector could not enter basic and heavy industries because they did not have adequate financial power and resources. In fact, the industrial policy of 1948 encouraged the private sector. But when a sufficient number of private sector investments were not coming in the time of need, the government revised the industrial policy in 1956 and gave the public sector a prominent place in the industrial development of the country. This ensures balanced growth. The public sector has to overcome regional imbalances, structure development, Help in the development of townships and remote areas. Later the government was forced to nationalize some sick units, especially in the textile industry to protect the interests of the workers. In the era of lack of public establishment, the public establishment worked to make the road to bring stability to the values. Indian Food Corporation was set up to improve the storage facilities and to maintain safe storage of grains, and for this reason, India has kept secure stores in food production, but now this organization has lost its usefulness, and it has now ended like Mexico. Should or should be restricted to North-East India, where the procurement of food is still a problem as the Green Revolution is expanding there Has not happened. Indian Food Corporation (IFC) was set up to improve facilities and maintain safe storage of grains, and for this reason, India has kept secure stores in food production. But now this organization has lost its usefulness and it is now to be terminated like a Mexican Should or should be restricted to northeast India where the purchase of food is still a problem as the Green Revolution is not reached there.  Indian Food Corporation was set up to improve facilities and maintain safe storage of grains.For this reason, India has kept safe stores in food production, but now this organization has lost its usefulness and should be restricted to northeast India where the purchase of food is still a problem as the Green Revolution is not reaching there. 

The time has come for the government to come out of many areas. Especially in the service sector. But in the railway and telecom, the government should remain, because the results of privatization in these areas have not been successful in many countries. Both areas also include some strategic interests.

The government entered the hotel industry when the private sector was not coming forward in the era of control. Today the government should go out of the hotel industry Because the private sector has done better in this area. The same is applicable to Air India because private airline companies have shown how aviation companies are run. Understanding this fact, the government has taken note of the strategic sale of Air India. Present Government has adopted the right approach for public sector enterprises. It is time for the government to sell its stake in 49% in the banking sector, including selling the stake in many areas. Govt has decided to launch strategic sales like Air India to increase the capability and to save the money of taxpayers in repeatedly recovering from the crisis, the government has decided to come out of those areas where the private sector can work better. If the attempt of rejuvenation fails in case of sick establishments, then the government should sell it directly to such units. The government A scheme has been prepared for establishing more units in the available land available to public sector companies so that the benefit amount utilized more than six lakh rupees received by the public sector. Public sector companies are making excellent profits in the oil sector, especially at the time when international oil prices are declining.

In this way, it is clear that there is no solution to solve the problems of public sector enterprises and the current government has adopted a multilateral policy to solve this problem properly.

Article Source: http://employment-newspaper.com/psu-jobs/

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