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The full form of PSE is Public Sector Enterprise. It refers to any unit of government which can be an enterprise, company, or statutory company possessed by the government. Moreover, is essential to remember that they can be partially or wholly owned by the government. Apart from this, PSEs are also known as PSUs or public sector undertakings. They are an integral part of the Indian economy.
Also Read: What is the Full Form of CSK?
Features of Public Sector Enterprises
- State ownership: The ownership of public sector enterprises is vested with the State.
- Accountability: Public enterprises are accountable for their actions to people. This is because they are funded through people’s money. Therefore, their overall performance and results are also crucial.
- State control: The overall management and functioning of public enterprises is in the hands of the government. The ruling power uses different measures and techniques to manage affairs.
- Service motive: The primary aim of public sector enterprises is to offer high quality services to the public at large.
- Financing: State financing is another essential feature of public sector enterprises. The ruling government provides the necessary funds from its budget.
What is the Classification of Public Sector Undertakings?
In India, public sector enterprises are distinguished into three diverse categories such as:
- Central Public Sector Enterprises (CPSE/CPSU)
- Public sector banks (PSB)
- State-level public enterprises (SLPE/SLPU)
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