The Public Sector Undertakings (PSUs) have been proved as main pillars of India’s economic growth. PSUs have played major roles in tackling serious socio- economic and financial issues in post-independence India. Our PSUs have helped bridging the income gap, imbalance in regional economic development and wide spread unemployment. At this point of time, Public sector is seen as an instrument of development for self-reliant and steady economic growth.
Therefore, PSUs hold a central platform of importance in the Indian economy through manufacturing and providing advancement in the field of science as well as being career magnet for youth for jobs. The PSUs also played a significant role in developing the chemical industry in India and continue to do so.
PSUs provide a huge leverage to the government (their controlling shareholder) to intervene in the economy directly or indirectly to achieve the desired socio-economic objectives. At times, these objectives may be misplaced but at others especially in times of do-or-die situation such as in 2008, PSUs play a key role in steering the national economy in the right direction.
Considering the current situation due to COVID-19, PSUs needs to play a bigger role to make chemical industry aatmanirbhar by increasing their overall performance.
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