Dalal Street announces PSU awards

New Delhi : Dalal Street Investment Journal (DSIJ), India’s No. 1 investment magazine announced 18 awards to Public Sector Undertakings (PSUs) for their steadfast support and contribution to the Indian economy. These prestigious awards were given away by Virbhadra Singh, Union Minister of Steel and Arun Maira, Member, Planning Commission at Hotel The Lalit in New Delhi.

Thunderous applause rocked the decked up hall for a long time when 18 winners of the second edition of DSIJ PSU Awards 2010 walked up to the podium to receive the awards. Crystal Ballroom at The Lalit in New Delhi was packed to the capacity on the evening of April 6 when second edition of DSIJ PSU awards were announced. It was a rare occasion when such a large number of CMDs, Directors and top officials were assembled under one roof. This award is given in the recognition of the excellence of performance and contribution to the Indian economy by the PSUs. KPMG was the knowledge partner of DSIJ is setting up the process of the selection. Dalal Street Investment Journal is India’s number one investment magazine published since 1986.

While appreciating the DSIJ for recognizing the talents and merits of PSUs through this award, Mr. Virbhadra Singh, Union Minister of Steel said, “PSUs contribution can be gauged by the fact that in addition to the dividends their contribution in way of excise duty, customs, corporate tax and interest of loans to the government exchequer last fiscal was to the tune of Rs 15, 1728 cr. In fact, total forex earned by these enterprise is Rs 74,000 crores.”

Arun Maira, Member, Planning Commission, talked about the vision of the Prime Minister Dr .Manmohan Singh for the equitable growth of the country. He stressed upon the factor of Globalization of the corporate world and changes seen in India where tremendous growth has been witnessed due the impact of globalisation. Mr Maira said that the globalization has contributed a lot in the infrastructure development as well as other development like economic development of the country.

This year DSIJ has divided the awards into two categories – Navratnas and Mini Navratnas so that Mini Navratnas also get a chance to get the award.

Receiving the award, R.S. Sharma, CMD of ONGC said “I complement DSIJ for recognising the performance public sector undertakings and I receive this award with great pride on behalf of 33000 employees of ONGC.”

S.K. Roongta, CMD of Steel Authority of India Limited (SAIL) while receiving the Life Time Achievement Award said “The DSIJ award is a tribute to the resilience of SAIL, which has improved its performance consistently , even in the face of global meltdown. This honour is really meant for the entire SAIL collectively, who through creativity and commitment made many impossibles possible”.

Lauding the efforts of DSIJ of recognizing the good work being done by the PSUs, Bank of Baroda Chairman, M.D. Mallya said, “ it is quite a commendable job by Dalal Street Investment Journal and this will boost the morale of entire PSU sector.”

Chief Guest Virbhadra Singh also unveiled an informative, enlightening, and engaging book on “India’s Best Public Sector Undertakings” , produced by Dalal Street Investment Journal .

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