Full form of PSU, What does PSU stand for ?

The Full form of PSU is Public Sector Undertaking. Public Sector Undertakings (PSUs) are government-owned corporations in India in which the majority of the company equity (51% or more) is owned by the central government or the state government or partly by the central government and partly by the state government. PSUs are created and governed by the government to undertake commercial projects under its own banner. These government-owned corporations are less concerned about making profits and more focused towards building of the nation and improving the economy of the country. The audits all PSUs are undertaken by the Comptroller and Auditor General of India (CAG). It has the authority to appoint the Auditor and direct him to follow the right audit process to audit the accounts of the PSU. PSUs can be divided into three groups which are Public Sector Enterprises (PSEs), Central Public Sector Enterprises (CPSEs) and Public Sector Banks (PSBs). Some of the popular PSUs of India are: State Bank of India, Coal India Limited, Indian Oil Corporation Limited, Food Corporation of India, Bharat Heavy Electricals Limited, National Thermal Power Corporation, Power Grid Corporation of India, Bharat Petroleum Corporation Limited, Oil & Natural Gas Corporation Limited, Mahanagar Telephone Nigam Limited and many more.