A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit. They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives.
Anant Gangaram Geete is an Indian politician and was the Union Cabinet Minister for Heavy Industries and Public Sector Enterprises during 2014 - 2019 in Narendra Modi cabinet. He is also a former Union Cabinet Minister for Power. He is a member of the Shiv Sena political party in Maharashtra, India.
The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, currency regulation, banking service, centre and state finances, and the Union Budget.
Nagarajan Vittal was an Indian civil servant who held a number of senior positions in the Government of India, most prominently that of central vigilance commissioner.
The economy of the state of Maharashtra is the largest in India. Maharashtra is India's second most industrialised state contributing 20% of national industrial output. Almost 46% of the GSDP is contributed by industry. Maharashtra has software parks in many cities around the state, and is the second largest exporter of software with annual exports over ₹ 80,000 crores.
The Braithwaite Burn & Jessop Construction Company Limited is a Public Sector Undertaking (PSU) of the Government of India under Department of Heavy Industries. Established on 26 January 1935, BBJ Construction Company has been involved in the construction & repairing of Rail Bridges & Rail-cum-Road Bridges, Industrial structural works, Large building foundation, Civil engineering works, Refinery piping works, Railway gauge conversion etc. The company is registered and headquartered in Kolkata.
Bharat Wagon and Engineering Limited (BWEL) was a Public Sector Undertaking (PSU) of the Government of India as a subsidiary of Bharat Bhari Udyog Nigam. The company was established on 4 December 1978 after taking over and merging two sick companies - Arthur Butler & Co and Britannia Engineering Company.
NHPC Limited is an Indian public sector hydropower company that was incorporated in 1975 to plan, promote and organise an integrated and efficient development of hydroelectric power. Recently it has expanded to include other sources of energy like solar, geothermal, tidal, and wind.
Power Finance Corporation Ltd. (PFC) is an Indian public sector company engaged in infrastructure finance activities. Established in 1986, it provides financing for the Indian power sector and is under the admistrative control of the Ministry of Power, Government of India. PFC was classified as a 'Maharatna' enterprise on 12 October 2021.
Public sector undertakings in Kerala are of two types, public sector units in which majority shares are owned by Union Government and public sector units in which majority shares are owned by State Government. Public sector undertakings in Kerala, i.e. enterprises in which majority shareholder is Government of Kerala are generally divided into Manufacturing & Non-Manufacturing. Some of the PSUs such as Kinfra, KSIDC, SIDCO etc. are promotional agencies. As of 2004 there were 104 enterprises spread over 14 different sectors of Kerala economy. These sectors are as varied as engineering, electronics to wood products & welfare agencies. Eleven units are joint venture of Kerala government with the central government. Most of state PSUs units are under Department of Industries & Commerce.
The Department of Industries is a key government department that oversees industrial activity in the Indian state of Kerala. The DOI is a senior cabinet department led by a senior minister and team of 15 secretaries. The administrative head of the Industries & Commerce Department is the Principal Secretary. The Directorate of Industries & Commerce Department is located at Vikas Bhavan, Thiruvananthapuram, is headed by the Director. This is the functional arm of the department implementing various industrial activities of the departments. District Industries Centers are located in all district headquarters.
Odisha Mining Corporation Limited or OMC is a Gold Category Public Sector Undertaking (PSU) established on 16 May 1956 as a joint venture company between Government of Odisha and Government of India to explore and harness mineral wealth of Odisha and make value addition. Odisha Mining Corporation is managed by a board of directors consisting of Government Directors and Independent Directors. The day-to-day management of the corporation is looked after by the chairman and the managing director as authorized by the board of directors.
Public Sector Undertakings (PSU) in India are government-owned entities in which at least 51% of stake is under the ownership of the Government of India or state governments.These type of firms can also be a joint venture of multiple PSUs. These entities perform commercial functions on behalf of the government. Depending on the level of government ownership, PSUs are officially classified into two categories: Central Public Sector Undertakings (CPSUs), owned by the central government or other CPSUs; and State Public Sector Undertakings (SPSUs), owned by state governments. CPSU and SPSU is further classified into Strategic Sector and Non-Strategic Sector. Depending on their financial performance and progress, CPSUs are granted the status of Maharatna, Navaratna, and Miniratna.
Disinvestment of Public Sector Undertakings in India is a process of public asset sales done by the President of India on behalf of the Government of India. It can be directly offered for sale to the private sector or indirectly done through a bidding process.
The Ministry of Heavy Industries is an executive agency of the Government of India. The Ministry entails for promoting the engineering industry viz. machine tools, heavy electrical, industrial machinery, and auto industry and administration of 40 operating Central Public Sector Enterprises (CPSEs) and 4 autonomous organizations.
Disinvestment in India is a policy of the Government of India, wherein the Government liquidates its assets in the Public sector Enterprises partially or fully. The decision to disinvest is mainly to reduce the fiscal burden and bridge the revenue shortfall of the government. The key engine in achieving growth in India during post-independence was played by Public Sector Enterprises (PSE). Among other responsibilities of PSE's post-independence, the social and developmental obligations of the nation were most important, which resulted in these units escaping competitive race. Later on the activities of the PSU's were divergent, concentrating towards more non-core areas like hotels and consumer goods among others. Further, the public enterprises were used as tools for political and bureaucratic manipulation; which was consequential in low capacity utilization, reduced productivity, failure to innovate, and complex decision-making processes on vital issues of development.
The Central Industrial Security Force Act, 1968, is an act of the Indian Parliament through which the Central Industrial Security Force (CISF) was raised on 10 March 1969. The CISF is a Central Armed Police Force which specialises in providing security and protection to industrial undertakings and other critical installations including nuclear plants, space centres and Delhi Metro. It is also the airport police of India.
