Nirmala Sitharaman inaugurates CPSEs exhibition in Gandhinagar

Tags: National Economy/Finance

Union Finance Minister Nirmala Sitharaman on 9 June inaugurated a Mega exhibition on Nation Building and Central Public Sector Enterprises (CPSEs) at Mahatma Mandir in Gandhinagar Gujarat.

  • The event has been organised as part of the ongoing celebrations of the Azadi Ka Amrit Mahotsav.

  • During this, the Finance Minister was apprised about the various major initiatives of CPSEs and their contribution in nation building.

  • During this four day exhibition all the participating CPSEs will showcase their contribution in the development of the country to achieve self-reliant India.

  • About 75 CPSEs are participating in this exhibition.

  • Some CPSEs including NTPC and BEL will inaugurate the activity related to converting their townships into mini smart cities at Solapur and Bengaluru.

  • These townships will be part of 27 townships belonging to 15 CPSEs which are being converted into mini smart cities.

  • Central Public Sector Enterprises (CPSEs)

  • These are those companies in which the direct holding of the Central Government or other CPSEs is 51% or more.

  • As on 31 March 2020, there were 366 CPSEs (excluding insurance companies).

  • Objectives of Setting up CPSEs

  • generate better quality of employment

  • creation of an industrial base in the country

  • development of basic infrastructure in the country

  • promotion of exports and reduction of imports

  • providing resources to the government

  • To reduce inequalities and accelerate the economic growth and development of the country.

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