What Is the Full Form of PSU in Organization?

The Full Form of ‘PSU’ in Organization is ‘Public Sector Undertaking’.

Full Form of PSU

Public Sector Undertakings (PSUs) are organizations owned, operated and managed by the government. They are responsible for providing goods and services to citizens, as well as running various programs and initiatives designed to benefit society.

The first PSUs were established in India during the 1950s, when the Indian government began looking for ways to modernize its economy. The goal of these undertakings was to create a more efficient public sector that could compete with private companies. As such, they sought to capitalize on the experience and knowledge held by private firms in order to develop better products and services.

In recent years, PSUs have become increasingly important in India’s economy. They are seen as an engine of economic growth and development, driving innovation, creating employment opportunities and contributing significantly towards national income. PSUs also provide essential services such as electricity, water supply and transport infrastructure that are vital for socio-economic progress.

The government has several mechanisms in place to ensure that PSUs remain competitive. These include setting targets for performance, allowing them to raise capital from financial markets, providing incentives for technological advances and encouraging mergers with other companies.

Apart from providing essential goods and services, PSUs also play a key role in promoting social justice through their corporate social responsibility initiatives. By investing in education, health care, environmental protection projects etc., they help reduce inequality across different sections of society. Furthermore, PSU employees enjoy certain advantages over those employed by private firms; such as job security and higher wages due to unionization or collective bargaining agreements with the government

In conclusion, PSU stands for ‘Public Sector Undertaking’ which is a type of organization owned by the government that provides goods or services while promoting socio economic progress through its various activities. These organizations have become increasingly important in India’s economy over time due their contributions towards growth and development while ensuring social justice through their corporate social responsibility initiatives

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