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Public Sector Undertakings In India
Public Sector Undertakings (PSU) in India are government-owned entities in which at least 51% of stake is under the ownership of the Government of India or state governments. These types of firms can also be a joint venture of multiple PSUs. These entities perform commercial functions on behalf of the government. Depending on the level of government ownership, PSUs are officially classified into two categories: Central Public Sector Undertakings (CPSUs), owned by the central government or other CPSUs; and State Public Sector Undertakings (SPSUs), owned by state governments. CPSU and SPSU is further classified into Strategic Sector and Non-Strategic Sector. Depending on their financial performance and progress, CPSUs are granted the status of Maharatna, Navaratna, and Miniratna (Category I and II). Following India's independence in 1947, the limited pre-existing industries were insufficient for sustainable economic growth. The Industrial Policy Resolution of 1956, adopt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. Terminology The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of India
The prime minister of India (ISO 15919, ISO: ) is the head of government of the Republic of India. Executive authority is vested in the prime minister and his chosen Union Council of Ministers, Council of Ministers, despite the president of India being the nominal head of the executive. The prime minister has to be a member of one of the houses of bicameral Parliament of India, alongside heading the respective house. The prime minister and the cabinet are at all times responsible to the Lok Sabha. The prime minister is appointed by the president of India; however, the prime minister has to enjoy the confidence of the majority of Lok Sabha members, who are directly elected Elections in India#Parliamentary general elections (Lok Sabha), every five years, lest the prime minister shall resign. The prime minister can be a member of the Lok Sabha or the Rajya Sabha, the upper house of the parliament. The prime minister controls the selection and dismissal of members of the Union ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planning Commission (India)
The Planning Commission was an institution in the Government of India which formulated India's Five-Year Plans, among other functions. In his first Independence Day speech in 2014, Prime Minister Narendra Modi announced his intention to dissolve the Planning Commission. It has since been replaced by a new institution named NITI Aayog. History Rudimentary economic planning, deriving from the sovereign authority of the state, was first initiated in India in 1938 by Congress President Netaji Subhash Chandra Bose, Atul Tiwari, Pandit Jawaharlal Nehru who had been persuaded by Meghnad Saha to set up a National Planning Committee. M. Visvesvaraya had been elected head of the Planning Committee. Meghnad Saha approached him and requested him to step down, putting forward the argument that planning needed a reciprocity between science and politics. M. Visvesvaraya generously agreed and Jawaharlal Nehru was made head of the National Planning Committee. The so-called "British Ra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bombay Plan
The Bombay Plan is the name commonly given to a World War II-era set of Import substitution industrialization-based proposals for the development of the post-independence economy of India. The plan, published in 1944/1945 by eight leading Indian industrialists, proposed state intervention in the economic development of the nation after independence from the United Kingdom (which took place in 1947). Titled ''A Brief Memorandum Outlining a Plan of Economic Development for India'', the signatories of the plan were J. R. D. Tata, Ghanshyam Das Birla, Ardeshir Dalal, Lala Shri Ram, Kasturbhai Lalbhai, Ardeshir Darabshaw Shroff, Sir Purshottamdas Thakurdas and John Mathai. The Plan went through two editions: the first was published in January 1944. This first edition became "Part I" of the second edition, published in 2 volumes in 1945 under the editorship of Purushottamdas Thakurdas. Although Jawaharlal Nehru, the first Prime Minister of India, did not officially accept the pla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bombay Stock Exchange
BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with the efforts of cotton merchant Premchand Roychand in 1875, it is the oldest stock exchange in Asia, and also the tenth oldest in the world. History Bombay Stock Exchange was founded by Premchand Roychand in 1875. While BSE Limited is now synonymous with Dalal Street, it was not always so. In the 1850s, four Gujarati and one Parsi stockbroker gathered together under a Banyan tree in front of Bombay (now Mumbai) Town Hall, where Horniman Circle is now situated. A decade later, the brokers moved their location to under the banyan trees at the junction of Meadows Street and what was then called Esplanade Road, now Mahatma Gandhi Road. With a rapid increase in the number of brokers, they had to shift places repeatedly. At last, in 1874, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jamsetji Tata
Jamsetji Nusserwanji Tata (3 March 1839 – 19 May 1904) was an Indian industrialist and philanthropist who founded the Tata Group, India's largest conglomerate. He established the city of Jamshedpur. Born into a Zoroastrian Parsi family in Navsari, his family came from Persia (Iran), finding refuge in India. Despite coming from a family of priests, Tata broke tradition to become the first businessman in his family, establishing an export trading firm in Mumbai. He graduated from Elphinstone College in Mumbai as a "Green Scholar." After working in his father's export-trading firm and recognizing opportunities in the cotton industry during a business trip to China, Tata founded a trading company in 1868. He later ventured into the textile industry and established Empress Mill in Nagpur, afterwards purchasing a bankrupt oil mill in Mumbai and converting it into a cotton mill. Tata's innovative strategies and commitment to industrial development in India led him to establish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Transport In India
Rail transport in India consists of primarily of passenger train, passenger and Rail freight transport, freight shipments along an integrated rail network. Indian Railways (IR), a statutory body under the ownership of the Ministry of Railways (India), Ministry of Railways of the Government of India, operates India's national railway system. It is the primary owner and operator of Rail transport, rail operations throughout the country, including suburban rail, suburban rail in major metros. Economic studies indicate positive effects of the Indian railway network on the economy of the country. The majority of the metro Urban rail transit in India, urban rail networks are operated by independent bodies constituted for the respective operations. Privately owned rails exist in few places, mostly used to connect freight to the integrated rail network. Inter-city rail services are operated primarily by Indian Railways, though efforts have been made to introduce privately operated trai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acland Mill
The Acland Mill was the first jute mill established in India. The mill was established in 1855 by British entrepreneur George Acland and Bengali financier Babu Bysumber Sen in Rishra, Bengal Presidency, British India (present-day West Bengal, India). Background At the beginning of the nineteenth century, jute manufacturing in India and Bengal was inefficient and of poor quality. The Crimean War interrupted the supply of flax and hemp from the Russian Empire to Britain, which enabled the Bengali jute trade to permanently take the place of the flax and hemp supply. By the middle of the eighteenth century, Bengal exported large quantities of raw jute to supply the flax industry in Dundee. The founder of the Acland Mill was George Acland, an English entrepreneur, owner of coffee plantations in Ceylon, and former marine in the East India Company's Marine, from Devonshire. He initially had the idea to grow rhea grass to serve as a substitute for flax and hemp, to make up for los ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Sector
The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector. Diversification In free enterprise countries, such as the United States, the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China, the public sector makes up most of the economy. Regulation States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Indian Army
The Indian Army was the force of British Raj, British India, until Indian Independence Act 1947, national independence in 1947. Formed in 1895 by uniting the three Presidency armies, it was responsible for the defence of both British India and the princely states, which could also have their own Imperial Service Troops, armies. As stated in the ''Imperial Gazetteer of India'', the "British Government has undertaken to protect the dominions of the Native princes from invasion and even from rebellion within: its army is organized for the defence not merely of British India, but of all possessions under the suzerainty of the Emperor of India, King-Emperor." The Indian Army was a vital part of the British Empire's military forces, especially in World War I and World War II. The Indian Presidencies and provinces of British India, Presidency armies were originally under East India Company command, and comprised the Bengal Army, Madras Army, and Bombay Army. After the Indian Rebellion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Ordnance Factories
The Directorate of Ordnance (Coordination & Services) (abbreviated: DOO(C&S)) is an authority under the Department of Defence Production (DDP) of Ministry of Defence (MoD), Government of India. Its primary work is to management, give instructions and make coordination of government ordnance production public companies. It is the main regulatory body of Indian Ordnance and its administration civil service, Indian Ordnance Factories Service (IOFS). The DOO(C&S) earlier known as Ordnance Factory Board (OFB), consisting of the Indian Ordnance Factories. In 2021, Government having corporatise the functions of the 41 Indian Ordnance Factories into 7 Defence Public Sector Undertakings (DPSUs), the Government is merging them again in 2024, as the output of one factory serves as the input of the other. OFB was the 37th-largest defence equipment manufacturer in the world, 2nd-largest in Asia, and the largest in India. OFB was the world's largest government-operated production organis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
