PSUs have crucial role to play in shaping New India: Swamy

Bhubaneswar: Eminent economist and Rajya Sabha member Subramanian Swamy on Saturday said that the Public Sector Undertakings (PSUs) have a crucial role to play in shaping the New India.

Delivering the 18th edition of NALCO Lecture Series on ‘Relevance of PSUs in Shaping New India’, Swamy said the Public Sectors are important for the development of India and these sectors need to be encouraged to prosper.

“The PSUs should be given the freedom to take decisions and operate in sync with the market dynamics,” he added.

He stressed that Public Sectors should move beyond profit-making and should focus on the multi-dimensional objectives.

There are certain sectors that can be explored and developed by Public Sectors only.PSUs also need to be ready to compete in terms of commercial principles, he added.

Stating that India should recognize the strength of the PSUs, the Rajya Sabha member also appreciated NALCO’s contribution, as an integrated business entity, towards the Indian aluminium sector in particular and the Indian economy as a whole.

Nalco CMD, Sridhar Patra, said that as a Central Public Sector, NALCO has always given priority to boost the country’s economy and serve the interest of the Nation through continuous improvement in production, productivity, and profitability and also works beyond profitability for promoting social and economic development through its CSR arm.

“The company is dedicated to work towards the sustainable development of the Nation and Indian Industry in years to come,” he added.