1339 words free essay on Public Sector Undertaking

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

Balmer & Lawrie established in 1867 by two Scotsmen, has high standards of customer service, innovative outlook and dedicated human resources. Bharat Coking Coal Limited (BCCL) is engaged in mining of coal and allied activities and it meets almost 50 per cent of the total prime coking coal requirement of the integrated steel sector, supplies substantial quantity of coal to the pig iron sector and bulk of the coal requirement of the power station in the Northern region.

Bharat Dynamics Ltd (BDL), established in July 1970 under the control of Ministry of Defense, is now one amongst a few strategic industries of the world having the capability to produce the most advanced guided missile systems for Armed Forces.

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Bharat Earth Movers Limited (BEML), a premier ISO 9001-2000 Company and the second largest manufacturer of earthmoving equipment in Asia, has vital applications in diverse sectors of economy such as coal, mining, steel, cement, power, irrigation, construction, road building and railways. Bharat Heavy Electricals Limited (BHEL) manufactures over 180 products under 30 major product groups and caters to core sectors of the Indian Economy viz., Power Generation & Transmission, Industry, Transportation, Telecommunication, Renewable Energy, etc. Bharat Refractoriness Limited, since its inception in 1974, has crossed major milestones to become one of the largest refractory producers in India.

Bharat Sanchar Nigam Limited (BSNL) is the No. 1 Telecommunications Company and the largest Public Sector Undertaking of India with authorized share capital of $ 3600 million and net worth of $ 13.85 billion. It has a network of over 4 5 million lines covering 5000 towns with over 35 million telephone connections.

Bongaigaon Refinery & Petrochemicals Limited (BRPL), incorporated in 1974, became a subsidiary of Indian Oil in 2001 after disinvestments of share by Government of India. Cement Corporation of India Limited (CCI) was incorporated in 1965 with the principal objective of achieving self sufficiency in cement production. Central Cos J Fields Ltd. (CCL) produces and markets the planned quantity of ‘ coal and coal products efficiently and economically with due regard to>’ safety, conservation and quality.

Centre For Railway Information Systems (‘ CRIS), a project oriented organization established in 1987, is entrusted with the task of design, development and implementation of the Free ,ht Operations Information Systems (FOIS), along with its associated coir immunizations infrastructure. Coal India Limited (CIL) promotes the development and utilization of the coal reserves in the country for meeting the present and likely future requirement of the nation with due regard to need for conservation of non-renewable resources and safety of mine workers.

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Engineers India Limited (EIL), established in 1965, besides providing engineering and related technical services for petroleum refineries and other industrial projects, has excelled in other fields such as pipelines, petrochemicals, oil and gas processing, offshore structures and platforms, fertilizers, metallurgy and power.

GAIL (India) Ltd, Erstwhile Gas Authority of India Limited, set up in 1984, deals with all aspects of the gas-value chain, including exploration, production, transmission, ‘extraction, processing, distribution and marketing of natural gas and its related process, products and services. The Food Corporation of India (FCI), setup under the Food Corporations Act 1964, is tasked with effective price support operations, distribution of food grains throughout the country for Public Distribution System, and maintaining satisfactory level of operational and buffer stocks of food grains to ensure National Food Security. Heavy Water Board (HWB), primarily responsible for production of Heavy Water (D20), is successfully operating six Heavy Water Plants in the country.

Hindustan Aircraft Limited (HAL) mainly supplies aircraft and helicopters to Indian Defense Services, Coast Guard and Border Security Force. Hindustan Insecticides Limited (HIL) has diversified into agro pesticides to meet the requirements of agriculture sector, and has also entered into the field of safe and eco-friendly botanical and bio-pesticides for public health and plant protection.

Indian Oil Corporation Limited (Indian Oil) is the country’s largest commercial enterprise, and India’s No.l Company in Fortune’s prestigious listing of the world’s 500 largest corporations. It is also the 19th largest petroleum company in the world.

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India Trade Promotion Organization (ITPO) is the nodal agency of the Government of India for promoting the country’s external trade. Kudremukh Iron Ore Company Limited, established in 1976, is involved in production of high quality blast furnace and direct reduction grade pellets for export. National Fertilizers Ltd (NFL), incorporated in 1974, has manufacturing Units at Bathinda, Panipat, Nangal, and Vijaipur.

National Scheduled Tribes Finance and Development Corporation (NSTFDC) is the apex organization for providing financial assistance for scheme(s)/project(s) for the economic development of Scheduled Tribes. The National Small Industries Corporation Ltd. (NSIC), an ISO 9001:2000 Company, promotes aids and fosters the growth of Small Industries in the country.

Neyveli Lignite Corporation (NLC) Limited is an integrated project complex having three opencast lignite mines. Its core activities are lignite excavation and power generation. Nuclear Power Corporation of India Limited (NPCIL), incorporated in 1987, undertakes the design, construction, operation and maintenance of the atomic power stations for generation of electricity.

Oil and Natural Gas Corporation Limited (ONGC) is India’s highest profit making corporate, achieving the record of being the first Indian corporate to register a five digit profit figure of? 10,529 Crore in the year 2002-03. The Shipping Corporation of India (SCI), established in 1961, is a giant conglomerate having 83 ships of 4.6 million DWT with substantial interests in 10 different segments of the shipping trade.

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Steel Authority of India Limited (SAIL), the leading steel making company in India, is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defense industries and for sale in export markets.

The Nuclear Fuel Complex (NFC), established in 1971, is responsible for the supply of nuclear fuel bundles and reactor core components for all the nuclear power reactors operating in India. Uranium Corporation of India Ltd (UCIL), incorporated in 1967, fulfils the requirement of Uranium for pressurized Heavy Water Reactors and plays a very significant role in India’s Nuclear Power Generation Programme.

In 1997, the Government of India identified nine Public Sector Undertakings as the most prestigious and together called them Navratna. This allowed those PSUs greater autonomy to compete in the global market. Navratna status is conferred by Department of Public Enterprises. To be qualified as a Navratna, the company must obtain a score of 60 out of 100. The score is based on six parameters which include net profit to net worth, total manpower cost to total cost of production or cost of services, Profit before Depreciation, Interest and Taxes (PBDIT) to capital employed, PBDIT to turnover, Earning per Share (EPS) and inter-sectoral performance.

As of present, the number of PSUs having Navratna status has been raised to 18. They are Bharat Electronics Limited, BHEL, BPCL, Coal India Limited, GAIL (India) Limited, Hindustan Aeronautics Limited, Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, MTNL, National Aluminum Company Limited, NMDC Limited, NTPC Limited, ONGC Limited, Power Finance Corporation Limited, Power Grid Corporation of India Limited, Rural Electrification Corporation Limited, Shipping Corporation of India Limited, and SAIL.

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In 2009, the Government established the Maharatna status, which raises a company’s investment ceiling from 1,000 crore to 5,000 crore. The Maharatna firms are given freedom to decide on investments up to 15 per cent of their net worth in a project. In order to qualify as a Maharatna, a company must have three years with an annual net profit of over 5,000 crore, net worth of 15,000 crore, and turnover of 25,000 crore. The only companies currently meeting the criteria are SAIL, ONGC and NTPC.

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