Psu in india a government owned corporation

Economic history of India When India achieved independence init was primarily an agricultural country with a weak industrial base. The national consensus was in favour of rapid industrialisation of the economy which was seen as the key to economic development, improving living standards and economic sovereignty. Subsequently, the Planning Commission was constituted in March and the Industrial Development and Regulation Act was enacted in with the objective of empowering the government to take necessary steps to regulate industrial development. Indian statistician Prasanta Chandra Mahalanobis was instrumental to its formulation, which was subsequently termed the Feldman—Mahalanobis model.

Psu in india a government owned corporation

Psu in india a government owned corporation

Most of the PSUs are involved in industries that require massive investments and are necessary for public welfare, such as the Oil Industry, Banking, Power Industry etc. Get an Overview of the Government Jobs in India.

How often do PSUs recruit? Unlike other entry — level Government jobs, PSUs do not follow a fixed recruitment policy. When and how many candidates are hired by a particular PSU solely depends on the number of vacancies for that year.

It is very possible that a PSU which is hiring candidates this year will not hire any fresh graduate for the next 2 years due to a lack of vacant positions. However, this should not be a major cause of concern due to the vast number of PSUs in India.

It is assured that some or the other PSU will be recruiting graduates in the year you complete your Bachelors degree. Additionally, you can always start working at a private organization and wait for a vacancy to come up at the PSU you wish to join.

The added work experience might even increase your chances of getting the job! Find out about the Top 7 Fixed Hours Jobs. Do Graduates from all fields get jobs at PSUs? Almost all PSUs need graduates from various fields to carry out daily operations, even though the number of vacancies can differ depending upon the nature of the company.

Psu in india a government owned corporation

Do keep in mind that this does not mean that Engineers will not be required at State Bank or Chartered Accountants will not be required at Indian Oil.

Generally, graduates in professional fields like MedicineLawAccountancyEngineering and Management are required across all PSUs, though in varying proportions.

What are the Job Roles and Responsibilities? Graduates are generally appointed as per vacancies to posts that are executive in nature and you will be responsible for carrying out various tasks as per the directions of the senior level officials in the company.

As a fresh recruit in a PSU, you will generally start off as a Trainee and undergo paid professional training for a short period of around 6 months — 1 year.

Many recruits are made to sign service bonds after the completion of their training which binds them to that particular PSU for a period of 2 — 3 years. PSUs offer lucrative pay package starting salariesoften higher than equivalent private sector positions.

In addition to the salary, there are many other monetary benefits of working at a PSU, such as free medical insurance, retirement benefits, easy to get loans, performance based incentives etc.

The biggest advantage of working at a PSU is the tremendous job security that a Government Job offers. In an unstable economic environment, it is an invaluable asset to know that it is highly unlikely that you will lose your job, even if the economy goes through a difficult phase. Find out how recruitments into the State Civil Services are carried out.

Working at a PSU also provides employees with great growth opportunities. As compared to the private sector, the path of getting a promotion or an increment in Public Sector Undertakings is more transparent and reliable.

It is assured that if you work hard and meet targets, you will grow as a professional within the ranks of the company due to regular promotions and increments.

Socially, working at a PSU is considered to be very reputable as you are working for the Government and serving the nation.

Government-owned corporation - The Full Wiki

Additionally, as a PSU employee, you might get frequent opportunities to travel for work around the country and interact with people from different cultures and backgrounds. How to get a job at a PSU? Most PSUs choose to recruit candidates through 3 ways: By conducting their own examinations, by short listing candidates on the basis of their GATE scores or by recruiting candidates from the premier institutes in the country such as IITs and the IIMs.

Through Competitive Examinations The most popular method of recruiting candidates used by PSUs is to conduct a competitive examination to recruit candidates. The competitive examination is generally used as a short listing tool and only the candidates who qualify in the exam by scoring above the minimum criteria depends on number of vacancies for that yearare asked to appear for the next stage of assessment, i.

The candidates who perform the best in the Group Discussions and the Interviews are the ones who are hired. Some PSUs include an additional short listing step, where they ask candidates to send their applications along with their Resumes first.The Nuclear Power Corporation of India Limited (NPCIL) is a government-owned corporation of India based in Mumbai.

One of the public sector undertakings, it is wholly owned by the Union Government and is responsible for . Feb 10,  · Public Sector Undertaking (PSU) is a Government owned corporation or a company in which Central or State Government have more than 51% share.

Basically these Government companies run like private companies and share profits to Government.

Public sector undertakings in India - Wikipedia

Of the privately owned channels, where state intervention is not as high, there has been a great deal of corporation, with companies paying media networks large sums of money to air their viewpoints – this in turn limits the number of viewpoints seen on TV.

Bharat Petroleum Corporation Limited (BPCL) is another swiftly growing public sector company and secured the sixth position in the list of Top 10 Public Sector Companies in India Headquartered in Mumbai, BPCL was incorporated in the year and .

In India, public sector undertaking (PSU) is a term used for a government-owned corporation. The term is used to refer to companies in which the government (either the Union Government or state or territorial governments, or both) owned a majority (51 percent or more) of the company equity.

Public sector undertakings in Kerala are of two types, public sector units in which majority shares are owned by Union Government and public sector units in which majority shares are owned by State sector undertakings in Kerala, i.e. enterprises in which majority shareholder is Government of Kerala are generally divided into Manufacturing & Non-Manufacturing.

What are PSUs? An overview of PSU companies in India.