Industry & Economy
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PSU
Central public sector units' turnover may cross Rs 10 lakh cr
Our Bureau
Hyderabad
March 30
The total turnover of 245 public enterprises in the Central sector in the country is expected to cross Rs 10 lakh crore mark this financial year as against Rs 8,32,584 crore in 2005-06.
The net profit is also expected to grow significantly from the Rs 65,429 crore registered during last year.
According to Dr Ramesh Chandra Panda, Secretary (Heavy Industries and Public Enterprises in Department of Public Enterprises), the public enterprises (PEs) had registered significant growth in the last 15 years.
The total turnover of PSEs went up to Rs 8,32,584 crore in 2005-06 from Rs 1,33,906 crore in 1991-92.
He was delivering a lecture on `Restructuring public enterprises in India' at the Institute of Public Enterprise here on Friday.
Analysing the strengths and weaknesses of the PEs in the country, Dr Panda said they made significant contributions to the economy and created net value addition (in the form of net profit, interest, taxes and salaries) to the tune of Rs 2,34,786 crore in 2005-06 as against Rs 2,30,059 crore in the previous year.
Restructuring
On restructuring the enterprises, he said it was important to unlock the PEs wealth and potential to make them growth engines. On revamping and privatisation, he said VRS and change of management didn't automatically make the enterprises turn around.
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