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All About Public Sector Undertakings (PSUs) In India

“Live life to the fullest and focus on the positives” – quote by Matt Cameron perfectly sums up your career dreams. And jobs in Public Sector Undertakings (PSUs) give us the right platform where one can live all their dreams which they've dreamt in their high school or college life. A good job with limited working hours, good salary, quarters to stay, insured life, job security, pension, gratuity and reputation all this is in your one-stop package – PSU.
However, do you know what PSUs are, how to get selected in India’s top PSU Company, or what is PSU exam, how you can get PSUs jobs through GATE are some of the questions that candidates desperately hunt for answers to? Relax! Ekeeda is here to rescue you. As you read our blog, in couple of minutes you will come to know what is PSU, types of PSU, PSUs through GATE recruitments, its eligibility and much more. 
What Is Public Sector Undertakings (PSU)?
PSU stands for Public Sector Undertakings in India and these are government-owned corporations. These Public sector companies represents the ‘Group of Companies’, owned by the union government of India, or one of the many states or territorial governments, or both. PSUs or public sector undertakings in India are very crucial elements that contribute to the economic progress of the nation. These are the companies whose significant paid share capital i.e. 51 per cent or more is owned by the Government of India. PSU definitely brings a promising future to the nation as well its employees and it is one of the most preferred choices for engineering aspirants to secure their jobs and lives. 
Why PSUs Were Introduced?
Post-Independence India was dealing with serious socio- economic and financial issues due to long time of slavery, income gap, imbalance of regional economic, and lot of unemployment. Also, insufficient industrial base, not enough investments, and poor infrastructure facilities with untrained human resources, technological struggle everything together tried to cripple the basic framework of running a successful India.
Thus, it’s was Public Sector in India was looked upon as the tool for making self-reliant India and contribute towards the steady economic growth. Over the years, there has been lot of changes and introduction of policies, wherein PSU companies in India could contribute more towards economic welfare and durability of the nation. Along with this, the young and dynamic engineering aspirants could also find an attractive career in these public sector enterprises in India. So, imagine what a promising future it would be, when you get associated to India’s Maharatna, Navaratna or Mini-Ratna PSUs. Wonder what’s this? Well! Wait for a while and you’ll get to know about it. Today, PSUs recruit a large number of candidates every year through GATE Examination. More & more Public Sector Industries are joining this league to exploit young and dynamic engineering potential.  
Public Sector Undertakings Classification:
Public Sector undertakings (PSU) can be classified into three following categories:
Central Public Sector Enterprises (CPSEs) – 
Public sector companies that are under the direct control of the Central Government or of other CPSEs by 51% or more than 51% of capital share ownership.
Central Public Sector Enterprises in India (CPSEs) are further classified into 
Strategic CPSE
Strategic Central Public-sector Enterprises (CPSEs) include the Arms & Ammunition and the defence equipment’s, defence aircraft, and other items related to defence, and in the field of atomic energy and railways transport.
Non-strategic CPSE - The rest of the CPSEs
Public Sector banks (PSBs) –
Banks that are under the direct control of the Central Government or of other PSBs by 51% or more than 51% of capital share ownership.
State Level Public Enterprises (SLPEs) – 
Companies that are under the direct control of the State Government or other SLPEs by 51% or more than 51% of capital share ownership.
Types of PSUs
There are three types of public sector companies based on various factors such as income stock exchange and annual revenue:

Maharatna

Navratna

Mini-Ratna

The PSU statuses are given by the Department of Public Enterprises according to their financial performance and growth. Also, the PSU status will help them provide governing control over financial and administrative matters to a certain extent. It enables them to compete with other market players domestically as well as internationally as well as earn the prestigious titles. These statuses also represent the consistent growth and performance of the company & its employees.
Here is a brief description about various Maharatna companies, Navratna companies, and Miniratna companies.
Maharatna Companies
Maharatna Companies have the highest status under this system. To qualify under the Maharatna status, the company will have to fulfil certain parameters and only then you will be awarded as Maharatna Company

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