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PM Modi at CPSE Conclave: Incentives, Imagination, Institution Building success mantra for both public and private sector | Highlights

Prime Minister Narendra Modi on Monday addressed the senior officers of Central Public Sector Enterprises (CPSEs) and top ministry officials at the CPSE Conclave at Vigyan Bhawan.

Edited by: India TV News Desk, New Delhi [ Updated: April 09, 2018 19:12 IST ]
PM Modi at CPSE Conclave LIVE Updates: 'NDA Govt gave

PM Modi at CPSE Conclave LIVE Updates: 'NDA Govt gave operational freedom to public sector firms for better output'

Prime Minister Narendra Modi today addressed the senior officers of Central Public Sector Enterprises (CPSEs) and top ministry officials at the CPSE Conclave at Vigyan Bhawan.

"The conclave will feature presentations on best practices in CPSEs," an official release said earlier. In the afternoon, thematic presentations were made to the prime minister on subjects such as corporate governance, human resource management, financial re-engineering, and innovation. 

Last month, officials had said that the prime minister will chair a meeting of heads of top state-run enterprises in April to chalk out a strategy for the functioning and role of CPSEs to realise the vision of a 'new India'.

"The deliberations in the Conclave will lead to the formulation of an actionable roadmap to achieve the target of a New India 2022," a senior government official had said.

Highlights of PM Modi's speech at CPSE Conclave: 

#Watch full speech of PM Modi at Vigyan Bhawan here:

06:20 pmPSEs can contribute towards the formation of New India through 5 Ps - Performance + Process + Persona + Procurement and Prepare: PM

06:16 pm: To date, we have been treating PSEs as navratana companies. But now, its time to think beyond it. Can we think about making New India jewel?, asks PM

06:15 pm: The third I - institution building: this is the most crucial test of leadership. Build teams which have centralised team formations. 

06:12 pm: In the current environment, the private companies are not able to sustain for more than 20 years. Major reasonis that they are not able to adapt according to technological changes. This is where leadership and imagination come handy. And this is why the importance of diversification and dsiruption has increased so much: PM

6:07 pm: Economists say that incentives are crucial to bringing change in human behaviour. But incentive can be more than just financial. Sometimes small appreciations can go a long way in motivating everyone: PM

06:06 pm: For public and private sector, the formula of success remains same - the 3 Is, which mean Incentives, Imagination and Institution Building.

06:05 pm: I believe that Idealism and Ideology are not enough for economic decision making. They need to be replaced with pragmatism and practicality. Enterprise and innovation are crucial guidelines for every sector: PM

06:04 pm:It is because of your courage, the government is able to take important decisions. Be it taking electricity to every last village or giving LPG connection to every household, none of this would be possible without the hardwork of your lakhs of employees: PM

06:03 pm: In one way the correct meaning of PSE is - Profit and Social benefit generating Enterprise. Which means they earn profit not just for share holders but also generate benefits for the society: PM

06:01 pm: NDA Govt gave operational freedom to public sector firms for better output

06:00 pm: PM Modi at CPSE Conclave: Public sector act as catalyst for infrastructure development

 

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