In a venture of its first type in the country, senior journalist Vivek Avasthi has started the first private portal for Public Sector Undertakings of India named www.psuindia.in India has 246 Public Sector Undertakings which are with the central government. The PSUs have weathered bad times but have not fallen to the global meltdown which saw the world powers shaken. On the contrary, Indian PSUs have come out of these times in flying colours, their flags shining bright and high.
Despite stiff competition from private players, the average percentage and net profitability of PSUs has increased from 8 percent in the year 2000 to 14.5 percent in 2009. In addition to the dividend part, they have been a major contributor in terms of excise duty, custom duty, corporate tax and interest of loans which amounted to Rs. 15,1728 crores in the last fiscal. The total forex earned by them amounts to Rs. 74,000 crores.
Of the 246 PSUs, excluding seven insurance companies, in the country, 33 are yet to commence operations. Of the 213 operating so far, only 54 PSUs are in losses while the others are doing pretty well. In the last one decade, the number of loss making PSUs has dropped by half from the high of 105 in 1999-2000. Their contribution to the GDP of the country is 6.49 percent.
But while there are numerous websites dedicated to the industry or stock market, the news and contribution of PSUs does not reach the right quarters – that is the common man of the country. I felt that there was an urgent need for a dedicated portal for the Public Sector Undertakings of the country and so I have come forward with this website – www.psuindia.in – a portal dedicated to the servers of the country as I strongly feel that PSUs are the unsung heroes who have played a major role in building of modern India.
Vivek Avasthi has been in the field of journalism for the last 19 years. He started his career from The Patriot newspaper in New Delhi as a crime reporter. He worked with the Hindustan Times and The Pioneer before shifting base to television news with BI TV. He was a part of the initial Aaj Tak news bulletin led by late Mr S.P. Singh. He later worked with Zee TV where he was active in laying the foundation of Zee News. He worked with Star News when Star News parted ways with NDTV. He was instrumetal in starting of Dilli Aaj Tak, the NCR channel and after making this venture a success, he worked with IBN7 of Network 18 group for almost three years after which he quit and started his own venture – Image Mentors after which he has started this website – www.psuindia.in PRESS RELEASE