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Govt got Rs 36,709 cr from 100 PSUs in 2018-19; earn value of 77 firms entirely eroded in losses: CAG

govt-got-rs-36,709-cr-from-100-psus-in-2018-19;-earn-value-of-77-firms-entirely-eroded-in-losses:-cag

Hundred government firms and firms paid a dividend of Rs 36,709 crore to the Centre in the future of 2018-19, as per a CAG describe.

“100 Authorities Firms and Firms declared a dividend of Rs 71,857 crore in the future of the year 2018-19. Out of this, the dividend got/receivable by Central Authorities amounted to Rs 36,709 crore which represented 9.16 percent return on the total funding by the Central Authorities (Rs 4,00,909 crore) in all Authorities Firms and Firms,” acknowledged the describe of the Comptroller and Auditor Standard of India (CAG) tabled in Parliament on Tuesday.

It extra acknowledged 13 government firms below the Ministry of Petroleum and Pure Gas contributed Rs 29,272 crore, representing 40.74 percent of the total dividend declared by all government firms and firms.

Non-compliance with directive of Authorities of India on declaration of dividend by 36 CPSEs resulted in a shortfall of Rs 8,011.33 crore in the rate of dividend for the year 2018-19, it added.

The describe moreover acknowledged there had been 157 Central Public Sector Enterprises (CPSEs) that incurred losses in the future of 2018-19. The losses amounted to Rs 37,310 crore when when put next with Rs 41,180 crore in 2017-18.

It acknowledged there had been 189 government firms and firms with accumulated losses of Rs 1,40,307.55 crore as on 31 March, 2019. Of these, the earn value of 77 firms had been fully eroded by their accumulated losses.

Consequently, the combination earn value of these firms had change into negative to the extent of Rs 83,394.28 crore as on 31 March, 2019. Handiest 15 out of these 77 firms earned earnings of Rs 662.45 crore in the future of the year 2018-19.

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