PSU stands for Public Sector Undertaking. The government-owned corporations are known as Public Sector Undertakings (PSUs) in India. PSUs are created by the government to undertake commercial projects under its own banner. These government-owned companies are less concerned about making profits and more focused towards nation building and improving the economy of the country.
The majority of the company equity (51% or more) in PSUs is owned by the central government or the state government or partly by the central government and partly by the state government.
The Comptroller and Auditor General of India (CAG) audits all PSUs. It has the authority to appoint the Auditor and direct him to follow the right audit process to audit the accounts of the PSU.
Classification of PSUs
PSUs can be divided into three groups:
- Public Sector Enterprises (PSEs)
- Central Public Sector Enterprises (CPSEs)
- Public Sector Banks (PSBs)
Some of the popular PSUs of India are listed below:
- Coal India Limited
- State Bank of India
- Food Corporation of India
- Indian Oil Corporation Limited
- Power Grid Corporation of India
- Bharat Heavy Electricals Limited
- National Thermal Power Corporation
- Bharat Petroleum Corporation Limited
- Oil & Natural Gas Corporation Limited
- Mahanagar Telephone Nigam Limited
2) PSU: Power Supply Unit
PSU stands for Power Supply Unit. It is a hardware component of a computer that supplies the optimum power to internal components of the computer. It converts the high -voltage alternating current (AC) into a steady low-voltage direct current (DC) which is safe for the internal components of the computer. PSU also regulates the voltage to protect the computer from high voltage fluctuations.