|PM Modi addressing the CPSE conclave
their CSR spend should be focused largely on one specific theme each year.
In this context, he appreciated the success that was achieved when this CSR spend was utilised for toilet construction in schools.
Modi said while addressing a CPSE conclave in Delhi. Modi suggested that one good theme could be the development of 115 aspirational districts identified by Niti Aayog for special focus. He said CPSEs can also take up skill development programmes, as part of CSR.
Thematic presentations were made to the Prime Minister on subjects such as corporate governance, human resource management, financial re-engineering, innovations and technology, and Vision 2022 for New India.
Addressing the gathering, the Prime Minister described this conclave as a new beginning in the public sector sphere.
"I need to learn a lot from you. If I spend more time with you, I shall emulate what I learn from you in the government. I hope that exactly after 100 days, whatever you have said today, you will come to me with a foolproof roadmap and after fixing responsibility," PM Modi said.
He asked the CPSEs to come with implementation roadmaps along with "measurable targets".
Expressing concern over little procurement by CPSEs from micro, small and medium enterprises (MSMEs), PM Modi prodded them to buy more from the small units and also ensure timely payments.
In 2016, the procurement by CPSEs was only Rs. 25,000 crore from MSMEs of the total Rs. 1.30 lakh crore.
Modi further said that it is not enough to rest on past laurels, but is also important to adapt to the emerging challenges.
He said enterprise and innovation should be the guiding principles in the 21st century. He said incentives, imagination and institution building would be the three keys to success.
He mentioned improving operational and financial performance; transparency and accountability in processes; procurement through the GeM platform and from MSMEs; and preparation for technological disruptions such as Artificial Intelligence, Quantum Computing and Robotics.
Identifying five challenges for CPSEs, Modi said they should focus on maximising their geo-strategic reach, minimising import bill, integrating innovation and research, optimal utilisation of CSR Fund and coming up with a new development model by 2022.
He said that for Public Sector Enterprises, both profit and generating social benefit are important. Complimenting the PSE employees for their contribution, the Prime Minister said that major objectives of the Government, such as electrifying all unelectrified villages, and providing LPG connections to the poor, could not have been fulfilled without the hard work of the PSE workers.
The Prime Minister said that it is not enough to rest on past laurels, but is also important to adapt to emerging challenges. He said enterprise and innovation should be the guiding principles in the 21st century. He said Incentives, Imagination and Institution Building would be the three keys to success.
Modi outlined five challenges before the PSEs, for New India:
By 2022, how will Indian PSUs maximize their geo-strategic reach?
By 2022, how will Indian PSUs minimize the country’s import bill?
By 2022, how will Indian PSUs integrate innovation and research?
By 2022, what will be the roadmap for Indian PSUs to optimally utilize their CSR Fund?
By 2022, what new development model will Indian PSUs give the country?
The Prime Minister said that out of the 500 biggest companies in the world, one-fourth belong to the public sector in some country. He suggested that Indian PSUs can link with PSUs with other countries, and develop a comprehensive strategy for overseas investment. He said PSUs can also play a key role in reducing India’s import bill. Noting that CPSEs have modern R&D infrastructure, in addition to the facilities that exist in CSIR and ICAR etc, the Prime Minister said that innovation and research now need to be integrated. In this context, he called for greater information sharing among CPSEs and Government Departments.