Prime Minister Narendra Modi asked the Public Sector Undertakings (PSUs) to focus on lowering the country’s import bill by 2022. PM Modi also posed five challenges to Central Public Sector Enterprise (CPSE) so that they can work towards a new India.
Addressing Central Public Sector Enterprise (CPSE) management and employees during the CPSE Conclave in New Delhi, Modi said, “I wish to pose 5 challenges to redefine your role in a new India. The first is, by 2022, will Indian PSUs be able to increase their Geo-Strategic reach. If yes, how will they do it? The second is, will PSUs be able to lower India’s import bill.”
“The third challenge is whether PSUs be able to integrate their innovation and research arms with each other. This will prevent overlaps and allow for more informed R&D. The fourth is, can our Corporate Social Responsibility funds be spent as per the new India dream. If yes, what is the road map for the same? And the fifth one is for CPSEs to propose and implement new models of development by 2022,” he added.
Emphasising more on the need for ramping up import substitution, PM said, “I would not like to comment on the earlier set up, but now we can take the example of the defence sector. Today we can indigenously develop aircrafts with the capability of the Tejas, submarines and warships and lower our imports.”
Focused spending
Modi also said that the there should be more focused spend of PSU CSR funds. He said, “In 2014, the PSUs had focused on building toilets, because the theme for the year and the initiative had worked well. Now PSUs should define a theme every year for focused spend of CSR funds. This way there can be much progress achieved in the selected sector.”
Setting a timeline for implementation, Modi said that he would like to meet the CPSE management after 100 days for a stock taking discussion of the progress. “I expect CPSE heads to meet me with a roadmap of time wise measurable targets on the highlighted agendas after 100 days.”