ranjan

Public Sector Undertakings are considered as vital & crucial pillars for strengthening the country's economy. The prime purpose of starting PSUs was to fabricate infrastructure for economic growth and development. Various factors such as Deterioration of financial performance of PSUs, rising fiscal deficit forced Govt. to to adopt a radically new approach towards the working of PSUs. PSUs are the companies established, maintained & controlled by the Central Govt. having 100% stake in it. In 1947, when India became independent, the country was confronting with a variety of Socio - Economic concerns which had to be resolved. India was mainly agriculture dependent economy with poor infrastructure and no knowledge about Investment, pathetic industrial base and low level of saving. There was wide difference in the incomes of different people. The private sector neither had the necessary resources, trained managerial staff nor the ability to undertake risks involved in long te