What is the full form of PSU:

PSU represents Public Sector Undertaking.

It is being fashioned by Government of India to assume the business work under the placard of its possess. This company are less worried with assembly proceeds, but more just before nation structure and increasing the country's economy.

Public Sector Undertakings (PSU) can be confidential into 3 categories: State-owned Endeavour in India is called a PSU or a public sector enterprise. These company are down by the union government of India, or one of the lots of state or defensive governments, or together. The company stock wants to be majority-owned by the government to be a PSU. PSUs may be confidential as Central Public Sector Enterprises (CPSEs), public sector banks (PSBs) or State Level Public Enterprises (SLPEs). CPSEs are administered by the Ministry of Heavy industry and Public enterprise.

The national agreement was in errand of fast industrialization of the country which was see not simply as the key to economic expansion, getting better living principles and economic power. Building upon the Bombay Plan, which celebrated the compulsion of government interfering and directive, the first developed Policy statement proclaim in 1948 lay downwards minor road contour of the scheme of industrial expansion. Consequently, the Planning Commission was constitute in March 1950 and the manufacturing (Development and guideline) Act was enact in 1951 with the purpose of empower the government to take compulsory ladder to control industrial development. Prime Minister Jawaharlal Nehru promote a monetary policy base on import replacement industrialisation and advocate a mixed economy, He whispered that the organization of vital and heavy engineering was elementary to the development and reconstruction of the Indian economy.