Team News Riveting
New Delhi, August 10
As many as 85 Central Public Sector Enterprises (CPSEs) are running under loss even as government’s efforts to revive it seemed to have failed.
According to a survey conducted in 2020, there were 71 bleeding CPSEs while the total losses of it stood at a staggering Rs 31,261 crore. The BSNL, MTNL and Air India incurred the highest losses.
As per information available with Department of Public Enterprises (DPE), there are 256 operational Central Public Sector Enterprises (CPSEs) as on 31.03.2020 with a total annual turnover of Rs 24, 61,712 crore. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today.
Out of these, 171 CPSEs are profit making with a profit of Rs 1,38,112 crore, the Minister stated.
Based on the information provided by the Navaratna CPSEs for FY 2020-21, the Minister stated that the performance in terms of Profit after Tax has shown improvement over the previous year in respect of most of the Navaratna CPSEs.
On reining in the expenditure, the Minister stated that as per information furnished by the Navaratna CPSEs a number of them are relying on use of virtual mode/ IT tools/services for reducing cost in recruitment process.
There is no reported reduction of workforce as cost cutting measures, the Minister added.
