India’s Top PSUs 2022

20 strategic sectors, exempting certain CPSUs like not-for-profit CPSUs or CPSUs supporting vulnerable and weaker sections of the society, from the scope of the policy. While strategic sectors as per the new PSE policy are given below, the remaining sectors are considered as non-strategic sectors. Strategic sectors as per New PSE Policy i. Atomic energy, space & defence ii. Transport & telecommunication iii. Power, petroleum, coal and other minerals iv. Banking, insurance and financial services Source: Department of Public Enterprises, Dun & Bradstreet Research The new PSE policy classified CPSUs into strategic and non-strategic sectors. All CPSUs from non- strategic sectors can be taken up for privatisation, subsidiarisation and merger with other CPSUs or for closure. In case of strategic sector, a bare minimum number will continue to operate as CPSUs, while rest can be taken up for privatisation, subsidiarisation and merger with other CPSUs or for closure. This will help release government resources for CPSUs in strategic sectors. In July 2021, the Department of Public Enterprises (DPE) was brought under the Ministry of Finance by the government. Thereafter in August 2021, certain responsibilities between Department of Investment and Public Asset Management (DIPAM) and DPE were demarked. With this, DPE has been assigned the responsibility to: a) Identify CPSUs for closure or privatisation in non-strategic sector in consultation with administrative ministries/ departments b) To take in-principal approval from Cabinet Committee on Economic Affairs (CCEA) in respect of such identified CPSUs c) Setting up a Special Purpose Vehicle (SPV) for asset monetisation once the SPV is approved by the cabinet d) Drive closure process for CPSUs approved for closure. In line with the aforementioned tasks assigned to DPE, guidelines were released by the government in December 2021 for identification of CPSUs on non-strategic sectors for closure and disinvestment, preparation of CCEA note seeking in-principal approval for closure/privatisation, revised closure process, filing of application before Registrar of Companies for removal of CPSU name, amongst others. Dun & Bradstreet