Public Sector Day: Here is why PSUs are indispensable for India

• April 10 is every year celebrated as Public Sector Day

• Public Sector Undertakings have played a crucial role in developing India post-independence

New Delhi: It took only 10 PSUs to generate Rs 1577 crore for the PM-CARES fund that has been created to strengthen the fight against COVID-19. This one sentence speaks about the legacy the public sector of India comes with. Since Inception public sector has played a vital role in the social and economic development of the country.  There are certain sectors today where PSU's performance has even surpassed the sectoral counterparts. Since we do not have the FY 2019-20 financial results of all the PSUs, let us talk about 2018-19. The year 2018-19 saw milestone achievements by Public Sector Undertakings.
buy zovirax online https://gaetzpharmacy.com/zovirax.html no prescription

The PSUs in toto contributed Rs 3.68 lakh crore to the central exchequer in the form of a dividend, interest, corporate taxes and GST. The gross turnover/ revenue of operating central PSUs grew by 18.03% while the overall net profit of 249 operating PSC stood at rupees 1.43 lakh crore reflecting the growth of 15.52% over the previous year. 18.03 PERCENT!

Mentioning the legacy of PSUs in national building and why the PSUs are indispensable for a country like India, given its socio-economic structure, Shailesh (IAS), Secretary DPE in a letter said "These are truly exceptional times for everyone both socially and economically while the different agencies of the government are totally trying to contain and stamp out the COVID-19 break and happy to note that PSU is to have come forward to supplement the efforts of the government in this regard. Assignment example of this is significant contributions to PM cares fund made by public sector community recently which will go a long way".

Every year, April 10 is commemorated as public sector day by SCOPE to celebrate the contribution of the public sector to the national economy through various elaborate activities and functions. However, this year, it's all silent. SCOPE restricted itself to bring out a kaleidoscope magazine issue based on the achievements of public sector.

"These are truly exceptional times for everyone both socially and economically while the different agencies of the government are totally trying to contain and stamp out the COVID-19 break and happy to note that PSU is to have come forward to supplement the efforts of the government in this regard" – Shailesh (IAS), Secretary, DPE

Secretary DPE in his letter further mentioned that "PSU's contribution in the wake of the fight against COVID-19 will go a long way in strengthening the efforts of the government in combating, containment and relief efforts. Dedicated efforts made by CPSEs are also being made to procure/manufacture medical equipment and other medical safety gears, provide food and shelter to the stranded and homeless and create awareness among masses and employees through various modes of communication. All of this has been possible due to robust debilities of PSC use and their dedication and commitment towards the nation".