Nirmala Sitharaman: Finance Minister's advice to PSUs, improve professionalism and reduce expenses

Posted on 10th Jun 2022 04:24 pm by rohit kumar

Union Finance Minister Nirmala Sitharaman on Thursday advised public sector enterprises to improve professionalism, reduce expenditure and consider working with private sector entities. Sitharaman said this during an event organized as part of the Azadi Ka Amrit Mahotsav celebrations.

 

Finance Minister Sitharaman addressed heads of various Central Public Sector Enterprises (CPSEs) at Mahatma Mandir in Gandhinagar after inaugurating a mega exhibition on the contribution of state-owned companies to nation-building. He said that now is the time for the PSUs to show that they are very keen to improve their professionalism as much as you have done between 1991 and now.

 

Referring to the new PSE policy announced in 2021, the Finance Minister said that the public sector undertakings should be aware of competition from the private sector to whom the government has opened up strategic sectors. After 1991, PSEs started competing with private sector entities. Sitharaman termed the economic reforms introduced in the country in 1991 as a game-changer. The exhibition titled 'Nation Building and CPSEs', which will open on June 10, has stalls of around 75 central government companies like Coal India, GAIL India, NTPC, Steel Authority of India Limited, and Indian Oil Corporation Limited.

 

Also Read: RBI Governor Shaktikanta Das said, there will be strict rules for digital lending platforms

Other news

Bill Gates Meets Xi Jinping: Chinese President Xi Jinping met Bill Gates, and said- "You are the first American friend whom I met this year"

Chinese President Xi Jinping met with Bill Gates, co-founder of Microsoft and co-chair of the Bil

There is no judicial review of constitutional amendment: Rajya Sabha Chairman Dhankhar mentioned NJC in Justice Varma's case, know.

Amid questions being raised on the independence of the judiciary in the case of Delhi High Court

Pakistani security forces killed 25 out of 35 terrorists, two commandos also died

Pakistan's security forces killed 25 out of 35 Islamist terrorists hiding in an anti-terrorist ce

There is more fraud in e-commerce during the festive season, complaints increased 200 times in 5 years

Recently, Yashasvi of Ahmedabad ordered a laptop through online shopping and opened the box durin

China - Taiwan: 'Strict action will be taken if Taiwan is attacked', Britain warns China amid tensions

Britain has warned China about any kind of attack on Taiwan on 25 April. Britain said that if Chi

Foreign Minister Jaishankar's criticism of the issue of buying oil from Russia, said - the interest of the Indian people is paramount

Concerning buying oil from Russia, India has once again made it clear that it will take any decis

Bihar Board Toppers Award: Bihar Board Inter Toppers will get lakhs of awards, results brought good news

Bihar Board Inter Result Out Check Awards for BSEB Toppers: Bihar School Examination Board (BSEB)

Winter Carnival in Himachal from January 2: Celebrated every year; the Manali administration started preparations, and many cultural programs will also be held

Like every year, Winter Carnival will be celebrated in Himachal's tourist city Manali. Carnival w

Will Jacks : RCB got a big blow, Will Jacks out of IPL 2023; Now the team's eye is on this unsold player

Now few days are left for IPL 2023 to start. Even before this, the team of Royal Challengers Bang

Manipur Violence: Curfew relaxation extended in Imphal districts, security forces conduct search operation

Manipur Violence: Given the improvement in the law and order situation, the Manipur government ha