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What is the full form of PSU?

Full form of PSU: Here, we are going to learn what does PSU stands for? PSU – which is an abbreviation of "Power Supply Unit" in Gadget Acronyms/Abbreviations, etc.
Submitted by Anushree Goswami, on March 18, 2020

PSU: Power Supply Unit / Public Sector Undertaking

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1) PSU: Power Supply Unit

• PSU is an abbreviation of the "Power Supply Unit".
• It is a hardware section of a computer that supplies the most favorable power to internal mechanisms of the computer.
• It converts the high -voltage alternating current (AC) into a steady low-voltage direct current (DC) which is safe and secure for the internal mechanisms of the computer.
• PSU also controls the voltage to protect and save from harm the computer from high voltage fluctuations.

Image source: https://en.wikipedia.org/wiki/Power_supply_unit_(computer)

2) PSU: Public Sector Undertaking

PSU is an abbreviation of "Public Sector Undertaking".

The state-owned corporations or enterprises are known as Public Sector Undertakings (PSUs) in India. PSUs are established by the government to carry out commercial projects under its sign and standard. These state-owned corporations are less apprehensive about making profits and more focused on the directions of nation-building and progressing and advancing the economy of the country.

Image source: https://www.iastoppers.com/editorial-notes-will-strategic-disinvestment-help-economy/public-sector-undertakings-psus-2/

The greater part of the company equity (51% or more) in PSUs is owned by the central government or the state government or to a certain extent by the central government and somewhat by the state government.

The Comptroller and Auditor General of India (CAG) audit all PSUs. It has the right and power to assign the Auditor and direct him to pursue the right audit procedure and method to audit the accounts of the PSU.

PSU History

• In 1947, when India attained independence, it was largely an agricultural country with a fragile industrial foundation.
• In 1948, the first Industrial Policy Resolution proclaimed and put down an extensive outline of the policy and approach of industrial development.
• India's second five-year plan (1956–60) and the Industrial Policy Resolution of 1956 emphasized the development of state-owned enterprises to convene with the Nehru's national industrialization policy.
• The vision of Nehru was taken ahead by Dr. V. Krishnamurthy known as the "Father of Public sector undertakings in India".

Classification of PSUs

PSUs can be classified into three categories:

• Public Sector Enterprises (PSEs)
• Central Public Sector Enterprises (CPSEs)
• Public Sector Banks (PSBs)

Following given below are some of the well-known PSUs of India:

• State Bank of India (SBI)
• Food Corporation of India (FCI)
• Power Grid Corporation of India (PGCI)
• Bharat Petroleum Corporation Limited (BPCL)
• Mahanagar Telephone Nigam Limited (MTNL)
• National Thermal Power Corporation (NTPC)
• Oil and Natural Gas Corporation (ONGC)
• Steel Authority of India Limited (SAIL)
• Bharat Heavy Electricals Limited (BHEL)
• Indian Oil Corporation Limited (IOCL)
• Hindustan Petroleum Corporation Limited (HPCL)
• Coal India Limited (CIL)
• Gas Authority of India Limited (GAIL)