Closure of Public Sector Undertakings (PSUs)

NITI Aayog constituted a committee on Sick/Loss making/Non performing Central Public Sector Enterprises (CPSEs) on March 9th 2016. The committee noted that financial performance of 74 CPSEs has been unsatisfactory and a number of these have requested for and received periodic support from budgetary resources. Over the years, this has become a significant drain on limited resources of the government. The committee has made the recommendations of closure/winding up of 26 such CPSEs.

Under the Central Sector Scheme of DPE i.e. Counseling, Retraining & Redeployment (CRR Scheme) skill development training is providing to CPSE’s employees separated under Voluntary Retirement Scheme (VRS)/Voluntary Separation Scheme (VSS) (VRS/VSS Optees) to enable them to get redeployment or to take up self-employment. The Scheme has a provision for training of the dependent also in lieu of the VRS/VSS Optees.

This was stated by Shri Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.