Question

In which year state public sector came into existence______?​

Answer 1

Answer:

After independence, India was dealing with serious socio- economic and financial issues caused by long period of slavery and exploitation like income gap, imbalance in regional economic development and wide spread unemployment. Moreover, insufficient weak industrial base with inadequate investments and lack of infrastructure facilities alongwith lack in trained human resources or technological backwardness was crippling the basic framework of India.

At this point of time, Public sector was seen as an instrument of development for self reliant and steady economic growth. Hence, the Nation followed a planned economic development policy in which PSUs had a big role to play.

Over the years, with some landmark new policies, public sector has continued to play a major role in the country’s economic growth and has become an attractive career destination for the youth. Major job requirement in PSUs is of engineering students and science students, due to its technical, scientific and manufacturing needs (but that does not mean PSUs are only limited to science students). Apparently, PSUs recruit a large number of candidates every year through GATE exam and this number is increasing as more and more PSUs are joining this league. Therefore, PSUs hold a central platform of importance in the Indian economy through manufacturing and providing advancement in the field of science as well as being career magnet for youth for jobs.

Explanation: