Public Sector Undertakings (PSUs) are government undertaking companies. These provide a secure future and good money as these are less affected by the current recession. This sector provides a career for both technical and non-technical personnel. The students from technical backgrounds can apply in technical service providing companies. These PSUs recruit thousands of diplomas and degree-holding personnel in the technical field. All these companies have their own recruiting procedures. Some of these companies have competitive type examinations and others have technical written and interview rounds.
As on 13 September 2017 there are 8 Maharatnas, 16 Navratnas and 74 Miniratnas. There are nearly 300 CPSEs (Central Public Sector Enterprises) in total.
These companies are owned by the union government of India, or one of the many state or territorial governments, or both. The company stock needs to be majority-owned by the government to be a PSU. PSUs may be classified as Central Public Sector Enterprises (CPSEs), public sector banks (PSBs) or State Level Public Enterprises (SLPEs).In 1951 there were just five enterprises in the public sector in India, but in March 1991 this had increased to 246.
CPSEs are companies in which the direct holding of the Central Government or other CPSEs is 51% or more. They are administered by the Ministry of Heavy Industries and Public Enterprises.
MINIRATNA CATEGORY -1
MINIRATNA CATEGORY -2
Three years with an average annual net profit of over Rs. 5000 crore,
Average annual Net worth of Rs. 10,000 crore for 3 years,
Average annual Turnover of Rs. 20,000 crore for 3 years (against Rs 25,000 crore).
A score of 60 (out of 100), based on six parameters which include net profit, net worth, total manpower cost, total cost of production, cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes), capital employed, etc.,
A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna.
Have made profits continuously for the last three years or earned a net profit of Rs. 30 crore or more in one of the three years.
Have made profits continuously for the last three years and should have a positive net worth.