Despite privatisation, fantastic growth in PSU sector: Vinit Goenka

Governance Now fourth PSU Awards: PSUs have had a major role in the socio-economic development of the country and the entire GDP depends on it.

GN Bureau | December 24, 2016


#IT taskforce   #preferential market access   #CSR   #highways   #GDP   #shipping   #Vinit Goenka   #PSU  
Vinit Goenka
Vinit Goenka

We need to build a strong country through a strong PSU community, said Vinit Goenka, member IT taskforce, ministry of shipping, road transport and highways in his opening address at the Governance Now fourth PSU Awards ceremony held on Friday in Delhi.

He said, “I would like to focus on the PSU committee which is the foundation of our country. Even with privatisation, there is fantastic growth in the PSU sector”. He added that in 1951, there were only five PSUs and now it has increased to 298, worth Rs 10,000 crore. “PSUs have had a major role in the socio-economic development of the country and the entire GDP depends on it,” he added.

READ: PSUs are a great tool for economic development: Babul Supriyo
 
Describing the business setup of the country, he said that with a population of 125 crore people, India has thousands of people inspiring to be entrepreneurs who want to have their own businesses. But they don’t have basic funding. 
 
He said, “The PMA factor [preferential market access] has not been discussed in detail. There are thousands of MSMEs and fantastic start-ups and innovatives in the country, but who will fund them? Do we want everyone to be an employee? It is our responsibility that we make use of CSR [corporate social responsibility] to fund their innovation and with PMA, secure their businesses”. 

READ: PSU, technology are pivotal to India’s growth story: Experts
 
He highlighted the need to build a strong country with a strong PSU community. 
 
He adds that PSU vocabulary is different from the one we have studied at school. He said, “PSU (categorization) jump from ‘L-1, L-2’ straight to ‘T-1, T-2’. They are missing ‘M’ for men, ‘N’ for new ideas, ‘O’ for opportunities and ‘P’ for personal touch. We have to put in these ‘MNOP’ into our operations.”

 

Comments

 

Other News

Gati Shakti: The National Master Plan

The launch of the Gati Shakti master plan will be a booster dose for India growth story. The plan, as the name indicates, will ensure Gati, i.e., speed and Shakti, i.e., empowerment to the ₹1 trillion national infrastructure pipeline. The plan will break inter-ministerial silos. For examp

Centre misusing probe agencies for political gains: Pawar

Hitting back at the central government in a strongly worded attack, Nationalist Congress Party (NCP) chief Sharad Pawar has said Bhartiya Janata Party is misusing central investigative agencies for political benefits. “Central agencies including ED, CBI and NCB are being used for polit

A counter-terrorism thriller that’s also insider story beyond headlines

OPERATION TROJAN HORSE By D.P. Sinha and Abhishek Sharan Paperback | Rs 399 | 372 pages Espionage thrillers closely resembling tomorrow’s headlines are finally coming up in India too. Here is a striking new thriller inspired by true events and th

Finding strength to serve, come Covid or cyclone – the Swades way

Since 2013, in a holistic, 360-degree model of community development Swades Foundation has reached out to 2,700 hamlets and villages across Raigad and Nashik districts in Maharashtra. Applying the same principles during Covid-19 Swades along with district administrations has been rebuilding communities

Reading ‘Meghaduta’ in the times of climate change

Kalidasa’s Meghaduta: The Cloud Messenger Translated by Abhay K. Bloomsbury / 114 pages / Rs 399 ‘Meghduta’, a ‘messenger-poem’ of about 110 stanzas, is among the most precious jewels of Sanskrit literature, a cla

An ‘energy crisis’ in the making

This year during the second wave of Covid-19, an unprecedented ‘oxygen shortage’ crisis gripped the national capital and several other parts of the country. A similar situation is brewing in respect of the ‘power’ situation in the national capital and the rest of the country too. Ho

Visionary Talk: Chetan Bhagat, Author & Columnist on his upcoming book 400 Days



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter