Improve on professionalism, reduce expenditure: Nirmala Sitharaman to PSEs
Gandhinagar(PTI): Union Finance Minister Nirmala Sitharaman on Thursday asked public sector enterprises to improve on professionalism, reduce expenditure and consider working with private sector entities.
She was addressing the heads of various central public sector enterprises (CPSEs) at Mahatma Mandir in Gandhinagar after inaugurating a mega exhibition on the contribution of these government-owned companies to nation-building as part of the Azadi Ka Amrit Mahotsav celebrations.
"It is now time for PSEs to show that you are very keen to improve on your professionalism as much as you have done between 1991 and now. And where possible, in order to bring down the overheads, it might be worth looking at private participation together with what you are doing...you can benefit from the efficiency of the private sector," Sitharaman said.
Referring to the new PSE policy announced in 2021, the Finance Minister said PSEs need to be aware of the competition they will face from the private sector for whom the government has opened the strategic sectors.
"The policy has opened up for the private sector to operate, and therefore, I would raise a flag here to all the PSEs. The moment you are opening up for the private sector to come into an area, we in the public sector will have to be conscious of the level of competition which is going to be before us.
"And if we are conscious of the level of competition, I am sure, just like you have done in the past for several decades, you will face the challenge, and also be able to stand up and through better efficiencies be on the top rather than leave the space," Sitharaman said.
She termed the economic reforms, which were introduced in the country in 1991, a "game-changer".
"With India opening up after 1991, PSEs started competing with the private sector entities. You found that to be a game-changer as the PSEs realised that now they have to improve on their efficiencies, also scale up and reduce the overheads," the minister said.
The exhibition titled "Nation Building and CPSEs" has stalls of nearly 75 central government companies, such as Coal India, GAIL India, NTPC, Steel Authority of India Ltd and Indian Oil Corporation Ltd. The exhibition will be open to the public from June 10 to 12.
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Passing out parade held at IMA Dehradun, 491 young officers join Indian Army
Dehradun(PTI): After undergoing rigorous training at the Indian Military Academy (IMA) in Dehradun, 491 cadets participated in a grand Passing Out Parade on Saturday and will now be commissioned as officers in the Indian Army.
The spectacular parade, held at the historic Drill Square in front of the academy's Chatwood Building, was reviewed by Army Chief General Upendra Dwivedi, who served as the reviewing officer.
Along with 491 Indian cadets, 34 foreign cadets from 14 friendly countries also participated in the Autumn Term 2025 Passing Out Parade.
A total of 525 officer cadets from the 157th Regular Course, 46th Technical Entry Scheme, 140th Technical Graduate Course, 55th Special Commissioned Officers Course, and Territorial Army Online Entrance Exam 2023 Course participated in the Passing Out Parade.
The 'Sword of Honour' and gold medal for securing first place during training was awarded to ACA Nishkal Dwivedi, the silver medal to BUO Badal Yadav for second place, and the bronze medal to SUO Kamaljeet Singh for third place.
The silver medal for securing first place in the 'Technical Graduate Course' was awarded to Officer Cadet Jadhav Sujit Sampat, and the silver medal for first place in the 'Technical Entry Scheme-46' was awarded to WCC Abhinav Mehrotra.
The silver medal for the 'Special Commission Officer Course' was given to Officer Cadet Sunil Kumar Chhetri.
Among the foreign cadets, the first place in merit was secured by JUO Mohammad Safin Ashraf from Bangladesh. The Army Chief's Banner for overall best performance in the Autumn Term was awarded to Imphal Company.
As the parade concluded, helicopters showered flowers on the newly commissioned officers from the sky.
On this occasion, General Dwivedi congratulated the new officers in his address for successfully completing their training. He praised the young officers for their high level of discipline, leadership qualities, and endurance, and urged them to uphold the glorious traditions of the Indian Army and serve the nation with loyalty, commitment, and honour.
General Dwivedi said that joining the army marks the beginning of a lifelong duty and selfless service.
The parents and guardians of the newly commissioned officers were also present during the passing out parade.
