A government-owned enterprise, government-owned corporation, statutory corporation and a nationalized company in India is called a public sector undertaking (PSU) or a public sector enterprise
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Public Sector Undertakings (PSUs) are the most desired career option in India and each year millions of candidates dream to get a job in Indian PSUs but many of them couldn’t dare to achieve the same. Have you ever wonder, why? Yes, there may be various reasons behind it such as lack of preparation, fewer vacancies, untimely situations etc. but there is one thing that comes ahead of all these reasons – the different routes to this journey. Yes, it is quite true that many candidates don’t even know that what are the pathways or what is the roadmap to get a job in PSUs. Firstly let’s get to know..
What are PSUs ?
Public Sector Undertakings (PSUs) are the organizations that are completely or partially owned (51% or more share) by the Government of India or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary company of such a Government company. (defined under Section 2 (45) of the Companies Act, 2013)
Public Sector Undertakings (PSUs) can be classified as Public Sector Enterprises (PSEs), Central Public Sector Enterprises (CPSEs) and Public Sector Banks (PSBs). These companies are administered by the Ministry of Heavy Industries and Public Enterprises.
Public Sector undertakings refer to commercial ventures of the Government where user fees are charged for services rendered. The tariff/fees may be market based or subsidized. They are usually fully owned and managed by the Government such as Railways, Posts, Defence Undertakings, Banks etc.
Public sector enterprises on the other hand refer to those companies registered under the Companies Act, 1951,which are predominantly owned by Government and which are managed by a Government appointed Chairman and Managing Director. Government nominees represent the interests of the Government on the board of Public sector enterprises.
Public sector companies usually compete with private sector enterprises in the domestic as well as international market.
There are around 300 PSUs in India that are categorized as Maharatna, Navratna, Miniratna-I, and Miniratna-II based on their financial autonomy. (Financial autonomy of local government is the “freedom to impose local taxation, generate revenue within its assigned sources, allocate its financial and material resources, determine and authorize its annual budget without external interference) Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997.
Originally, the term Navratna meant a talisman composed of nine precious gems. Later, this term was adopted in the courts of Gupta emperor Vikramaditya and Mughal emperor Akbar, as the collective name for nine extraordinary courtiers at their respective courts.
The government grants the status of Navratna, Miniratna and Maharatna to Central Public Sector Enterprises (CPSEs) based upon the profit or competitive advantage made by these CPSEs.
List of Maharatna, Navratna and Miniratna CPSEs by Ministry of Finance Department of Public Enterprises
The criteria for giving Maharatna Status:
- The company already holds Navratna status.
- It is listed on the Indian stock exchange fulfilling the minimum prescribed public shareholding according to the SEBI regulations.
- The Average annual turnover of company during the last 3 years is more than Rs. 25,000 crore.
- The Average annual net worth during the last 3 years is more than Rs. 15,000 crore.
- The Average annual net profit after tax during the last 3 years is more than Rs. 5,000 crore. The company should have a significant global presence or international operations.
List of Maharatna CPSEs
- Bharat Heavy Electricals Limited
- Bharat Petroleum Corporation Limited
- Coal India Limited
- GAIL (India) Limited
- Hindustan Petroleum Corporation Limited
- Indian Oil Corporation Limited
- NTPC Limited
- Oil & Natural Gas Corporation Limited
- Power Grid Corporation of India Limited
- Steel Authority of India Limited
The criteria for giving Navratna Status:
- The company must have ‘Miniratna Category – I‘ status along with a Schedule ‘A’ listing (with 4 independent directors on its board)
- It should have at least 3 ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) during the last five years.
- Along with the above, it should also have a composite score of 60 or above out of possible 100 marks in the 6 selected performance parameters:-
- Net Profit to Net Worth (Maximum: 25)
- Manpower cost to cost of production or services (Maximum: 15)
- Gross margin as capital employed (Maximum: 15)
- Gross profit as Turnover (Maximum: 15)
- Earnings per Share (Maximum: 10)
- Inter-Sectoral comparison based on Net profit to net worth (Maximum: 20)
List of Navratna CPSEs
- Bharat Electronics Limited
- Container Corporation of India Limited
- Engineers India Limited
- Hindustan Aeronautics Limited
- Mahanagar Telephone Nigam Limited
- National Aluminium Company Limited
- NBCC (India) Limited
- NMDC Limited
- NLC India Limited
- Oil India Limited
- Power Finance Corporation Limited
- Rashtriya Ispat Nigam Limited
- Rural Electrification Corporation Limited
- Shipping Corporation of India Limited
The Criteria for giving Miniratna Status:
Those CPSEs that have shown profits in the last continuous three years and have positive net worth, can be considered eligible for grant of Miniratna status. Presently, there are 75 Miniratnas in total. Generally, questions are not asked of these companies owing to their sheer number. But noteworthy is their categorisation. The Miniratnas are divided in two categories – I and II.
- Category I: These have made profits for the last three years continuously or earned a net profit of Rs. 30 crores or more in one of these three years. There are 60 such companies.
- Category II : These companies have made profits continuously for the last three years and must have a positive net worth. There are 15 such companies in this category.
List of Miniratna Category – I CPSEs
- Airports Authority of India
- Antrix Corporation Limited
- Balmer Lawrie & Co. Limited
- Bharat Coking Coal Limited
- Bharat Dynamics Limited
- BEML Limited
- Bharat Sanchar Nigam Limited
- Bridge & Roof Company (India) Limited
- Central Warehousing Corporation
- Central Coalfields Limited
- Central Mine Planning & Design Institute Limited
- Chennai Petroleum Corporation Limited
- Cochin Shipyard Limited
- Cotton Corporation of India Limited
- EdCIL (India) Limited
- Garden Reach Shipbuilders & Engineers Limited
- Goa Shipyard Limited
- Hindustan Copper Limited
- HLL Lifecare Limited
- Hindustan Newsprint Limited
- Hindustan Paper Corporation Limited
- Housing & Urban Development Corporation Limited
- HSCC (India) Limited
- India Tourism Development Corporation Limited
- Indian Rare Earths Limited
- Indian Railway Catering & Tourism Corporation Limited
- Indian Railway Finance Corporation Limited
- Indian Renewable Energy Development Agency Limited
- India Trade Promotion Organization
- IRCON International Limited
- KIOCL Limited
- Mazagaon Dock Shipbuilders Limited
- Mahanadi Coalfields Limited
- MOIL Limited
- Mangalore Refinery & Petrochemical Limited
- Mineral Exploration Corporation Limited
- Mishra Dhatu Nigam Limited
- MMTC Limited
- MSTC Limited
- National Fertilizers Limited
- National Projects Construction Corporation Limited
- National Small Industries Corporation Limited
- National Seeds Corporation
- NHPC Limited
- Northern Coalfields Limited
- North Eastern Electric Power Corporation Limited
- Numaligarh Refinery Limited
- ONGC Videsh Limited
- Pawan Hans Helicopters Limited
- Projects & Development India Limited
- Railtel Corporation of India Limited
- Rail Vikas Nigam Limited
- Rashtriya Chemicals & Fertilizers Limited
- RITES Limited
- SJVN Limited
- Security Printing and Minting Corporation of India Limited
- South Eastern Coalfields Limited
- Telecommunications Consultants India Limited
- THDC India Limited
- Western Coalfields Limited
- WAPCOS Limited
List of Miniratna Category-II CPSEs
- Artificial Limbs Manufacturing Corporation of India
- Bharat Pumps & Compressors Limited
- Broadcast Engineering Consultants India Limited
- Central Railside Warehouse Company Limited
- Engineering Projects (India) Limited
- FCI Aravali Gypsum & Minerals India Limited
- Ferro Scrap Nigam Limited
- HMT (International) Limited
- Indian Medicines & Pharmaceuticals Corporation Limited
- MECON Limited
- National Film Development Corporation Limited
- Rajasthan Electronics & Instruments Limited
Some of the benefits of working in an Indian PSU are listed below:
- Working in a prestigious Government organization brings you a lot of respect and recognition from society. Also, you feel honored that you are serving the nation and its people anyhow.
- Apart from the decent salary, PSUs also provide various additional benefits to its employees such as residence, retirement benefits, travel expenses, and many more.
- Working in an Indian PSUs (or any other Government organization) provides you the job security with fixed working hours and job flexibility.
if you’re looking for getting a job in any of Indian PSU and have all the information like job profiles, pay scale, etc. but you are unaware of the selection process of the organization then all your information is of no purpose. Here, in this blog, we will let you know about how can you get a job in Public Sector Undertakings of India. Public Sector Government companies offers various level of vacancies on Regular and contractual basis.
How can I get a job in PSU?
1. Through GATE Scores
The Recruitment based on GATE qualification, but some posts are not need for GATE Exam eligibility.
Apart from offering the Master’s Program from the top institutes, the GATE scorecard can also land up you a prestigious job in Indian PSUs. There are various PSUs such as IOCL, ONGC, and many others that hire the candidates based on GATE scores. What you have to do is appear for the GATE exam and get the minimum qualifying marks required by the PSUs (minimum qualifying marks are variable as per different PSUs). However, after getting shortlisted through the GATE scores, you may need to appear for several additional rounds such as – Group Discussions, Personal Interview, Medical Round, etc.
Moreover, you have to prepare very well for the GATE examination as GATE is considered as one of the most competitive exams in India and every year, nearly 15-16% among all appearing candidates qualify the exam. Also, you have to keep in mind that the GATE scorecard is valid only for 3 years, so do all your planning accordingly.
PSU job through GATE is permanent as you will be an government employee.
2. Through Entrance Examination
PSUs also prefer to conduct an entrance examination to select the candidates. The candidates who score above the minimum qualifying marks required by the organization in the examination get shortlisted and they have to appear for the further rounds of the recruitment process such as Group Discussion / Group Task, Personal Interview, etc. And, the candidates are finally recruited based on their performance in further rounds. However, before conducting an exam, the PSUs release the eligibility criteria for the screening of the candidates, so you must ensure that you satisfy all the requirements such as age limit, qualifications, etc. before applying for the examination. Although the eligibility criteria can vary from organization to organization.
You can get to know about these entrance or competitive exams from the official site of the particular PSU where a circular is released by the organization regarding all the examination details such as schedule, exam pattern, syllabus, etc. Some of the PSUs that recruit the candidates through the entrance exam are SAIL, RINL, BARC, etc.
3. Direct Recruitment from Premier Institutes
Probably many of you don’t know but yes, PSUs also select the candidates from the top institutes such as IITs, IISc, IIMs, etc. as a part of Campus Interview Selection Process. The organization visits the institutes and shortlist the candidates based on their academic records and performance. The shortlisted candidates have to undergo further rounds such as Group Discussion / Group Task, Interview, Medical Round, etc. passing which they finally get recruited by the organization. However, getting a job in PSU through campus placement is not that easy as it seems. You have to maintain an excellent academic record along with extensive knowledge of your discipline to get shortlisted. Also, there are certain legal issues regarding the same hence many people are not aware that PSUs recruit through campus placement.
4. Other Ways –> Through NET Exams ( UGC NET/ CSIR NET) and Direct Selection Process : Some PSUs have their own competitive exam for Recruitment. So, candidates who are not able to perform well in gate Exam, they can also get a Job in PSUs by preparing for the PSUs competitive exam.
As of now, you must be aware of the various ways by which PSUs recruit the candidates. It depends on you which pathway you choose, it all depends on your hard work and dedication.
FAQs Related to PSU Job
✅ What are PSU jobs?
Public Sector companies offers more than 50,000+ vacancies every year. PSU Jobs in Group A, Group B and Group C levels – Managers, Executives, Company Secretary, Head, Officers, Clerk, Assistants, Apprentices, Engineers, Trainees, Technician etc. PSUs Jobs provides a wide range of career opportunities & growth but the work responsibility is also very hard. There is no chance of mistakes in these jobs.
✅ Is PSU a Govt Job?
PSU jobs Yes, but not pure government jobs. Because, PSU / Public Sector companies partially owned by Central Government or State Governments based on Stake holding percentage. The PSU Jobs is Public Private mixed Company jobs. The Job security is stable permanent basis based on your performance, some PSU jobs are temporary and few years contractual basis.
✅ What are jobs available in Government Undertaking Companies?
- Top Public Sector Company Jobs are :- Engineering posts: Junior Engineer, Assistant Engineers, Executive Trainees, Diploma Apprentices, Diploma Engineers.
- Degree posts: Assistants, Officers, Consultants, Scientist, Scientific, Technical and Non Technical Posts.
- ITI Posts: Apprentices, Technician, ITI trade positions.
- Medical Posts: Doctors, Medical Officers, Pharmacist, Nurses etc.
- Management Posts: Manager Level posts, Finance, Human Resources, Accounts etc.
✅ What are common eligibility criteria’s for any PSU Job ?
General requirements:
- B.E. /B.Tech. /B.Sc.(Engg.) – Degree required or applicant should at least be a Graduate.
- For final-year students, the final result of 8th semester and mark-sheets must be presented at the time of interview.
- Minimum cut-off % of B.Tech varies for different PSUs Gen. Category:-60%-70%; Reserved Category:-50%-60%.
- Some PSUs allow only present final year students and last two year pass-outs. e.g. NTPC
- Age limit is age 21 to 30 years with some relaxation to SC/ST/OBC Candidates.
✅ What are the Benefits of Getting a PSU Job?
- Fixed working hours: you have to work 9–5 job. There are no extra timing & shifts.
- Government Job Perks: As we all are aware of the perk & benefits of a government job & its employees like Pension, Less work pressure, Reputation in society,
- Promotions & Opportunities: The promotion process is easy. You can get promoted in less time as compared to other jobs. & the salary increments are also good.