The term Public Sector Undertaking (PSU) refers to a Government Company. "Government Company" is defined under Section 2 (45) of the Companies Act, 2013 as any company in which not less than fifty-one percent of the paid-up share capital is held by the Central Government, or by any State Government or Government, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company.
Public Sector Undertakings (PSUS) refer to commercial ventures of the Government where user fees are charged for services rendered. The tariff/fees may be market-based or subsidised. They are usually fully owned and managed by the Government such as Railways, Posts, Defence Undertakings, etc.
There are benefits of a PSU. It helps in employment generation and many PSUs have created millions of jobs to tackle the unemployment problem in the country. Initially, after independence, to bring about a balanced regional development in the country, PSUs had located their plants in backward parts of the county. These areas lacked basic industrial and civic facilities like electricity, water supply, township, and manpower.
Apart from the generation of internal resources and payment of dividends, PSUs have been making a substantial contribution to the Government exchequer through payment of taxes, excise duty, customs duty, etc.
This story is from the May 2023 edition of Extraordinary and Plenipotentiary Diplomatist.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 2023 edition of Extraordinary and Plenipotentiary Diplomatist.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
US Elections Biden Vs Trump?
0n November 5th Americans will elect their next president.
UNDERSTANDING UNRWA
ITS ROLE AMIDST THE LATEST STRIKE IN GAZA
Kwibuka30
REMEMBERING THE VICTIMS OF THE RWANDAN GENOCIDE
"ART DE VIVRE À LA FRANÇAISE" 2024 EXHIBITION
A SUCCESSFUL ENDEAVOUR IN BRINGING FRENCH ART OF LIVING TO INDIA
NATO AT 75
UPHOLDING PEACE, SECURITY, AND COOPERATION
HOW INDIA COULD LEAPFROG ECONOMICALLY WITH GENERATIVE ARTIFICIAL INTELLIGENCE
Digital India under the tech-visionary Indian Prime Minister Narendra Modi faces a new challenge as to how to create a public-private partnership to harness the immense power of Generative Artificial Intelligence to bring about transformative changes in all aspects of Indian life.
THE NEW COLD WAR
CHANGING CONTEXT AND SHIFTING CONTOURS OF INTERNATIONAL POLITICS
SRI LANKA'S INCONSISTENT FOREIGN POLICY THREATENS INDIA'S SECURITY
In March 2024, Sri Lanka's Foreign Ministry spokesperson Niluka Kadurugamuwa informed that they will permit offshore research ships for replenishment activities at its ports.
INDIA-AUSTRALIA RELATIONS
ANCHORING THE QUAD AND NAVIGATING THE MULTIPOLAR WORLD
EMERGING GEOPOLITICAL DYNAMICS: ASSESSING INDIA'S FOREIGN POLICY
India has risen as a major player in the geo-politics at an international level.