There is growing interest for PSU and other Government jobs among job seekers in India. Government jobs don't just mean the tough and famous Civil Services Examinations, which take you right to the top of the administrative hierarchy at the district level. It could also mean opportunities in the Army, in Colleges, as Geologists or Foresters, Intelligence Officers, Income Tax Inspectors, Professors in Universities, Scientists, Bankers, Stenographers and Clerks.
There is a great rush for public sector jobs in recent times in India. The Indian Oil Corporation (IOC) has been receiving more than 60,000 applications from Engineers and Management Graduates every year. There has been 20 per cent increase in this number every year. The National Hydro Power Corporation (NHPC), another PSU saw an unprecedented turnout at last year's recruitment drive. More than 20,000 vied for a handful of trainee officers' posts. There has been at least 20 to 30 per cent rise in the number of applicants.
The trend is reflected at the placements conducted by Indian Institutes of Management (IIMs) and Indian Institutes of Technology (IITs). The Public Sector Undertakings have been attracting talented candidates with unexpected salary packages. After being shunned for many years, Nava Ratna and Mini Ratna companies are much sought after among job seekers today. In the previous year, Government companies such as the IOC, Gas Authority of India Limited (GAIL), Coal India (CIL), the Securities and Exchange Board of India (SEBI), National Thermal Power Corporation (NTPC), Bank of Baroda (BoB) and Union Bank of India (UBI) were the major recruiters at IIM, Calcutta.
The nationalised banks are some of the most popular haunts for the young job aspirants. There has been a spree of recruitment across all the PSU Banks. There are mass recruitments for Clerks and Probationary Officers vacancies. About 24 lakh candidates applied for jobs in State Bank of India in 2007- 2008, out of which about 30,000 were recruited. In 2009 – 10, more than 50 lakh applied for about 10000 clerk posts in SBI. There was a time when employment in PSUs like BHEL was the ultimate goal of a job aspirant. These jobs offer a good salary, fair working hours, excellent perks and incentives such as medical care and, above all, job security in the times of crisis along with prestige in society.