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CPSE reserves up 10 pc in FY'11

Last Updated 25 March 2012, 17:06 IST

 The reserves and surplus of Central Public Sector Enterprises (CPSE) jumped about 10 per cent year-on-year to Rs 6.65 lakh crore last fiscal, according to the Public Enterprises Survey 2010-11.

In 2009-10, these reserves and surplus of state-owned units stood at 6.05 lakh crore, it said. The government, hard-pressed for funds, approved the proposal for expediting disinvestment through the buyback route, under which blue chip state-owned companies will buy its stake. Through this mode, the government can raise money by selling its equity in the company to the PSU itself. The survey also said profits of 158 PSUs increased about 5 per cent to Rs 1.13 lakh crore during the last fiscal compared to Rs 1.08 lakh crore in the previous year.

Among the PSUs which registered profits, the country’s largest oil and gas producer ONGC topped the charts, followed by NTPC, NMDC, GAIL, IOC, BHEL, CIL and Oil India.
There were 248 CPSEs, of which 220 were in operation and the rest were under-construction, till March 2011.

The survey said the total turnover of all public sector units went up by 18.3 per cent to Rs 14.7 lakh crore, while their net worth grew 9.6 per cent to Rs 7.2 lakh crore, during 2010-11.The agriculture sector recorded the highest turnover growth of 23 per cent, followed by manufacturing and mining.The survey said the contribution of CPSEs to the government by way of duties, taxes, interest payments and dividends increased 11.58 per cent to over Rs 1.56 lakh crore in the last fiscal.

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(Published 25 March 2012, 17:06 IST)

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