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The performance rating of 26 Central Public Sector Enterprises (CPSEs) has been downgraded in 2015-16 from the ‘Excellent’ in 2014-15, as per a government evaluation.
The rankings reflect the performance of CPSEs against the targets fixed in their memorandum of understanding with the Centre for a financial year, as per the information shared in a written reply in Rajya Sabha by the Minister of State for Heavy Industries and Public Enterprises, Babul Supriyo.
The memorandum of understanding targets are set by the CPSEs and a better achievement results in higher ranking.
In all, 63 out of 220 CPSEs were ranked ‘Excellent’ in financial year 2016, as against 74 ranked ‘Excellent’ in financial year 2015.
Airports Authority of India, Ircon Infrastructure & Services Ltd and HSCC India went from being ranked ‘Very Good’ in financial year 2015 to ‘Excellent’ in financial year 2016.
In contrast, the ‘Excellent’ rating of Mineral Exploration Corporation, MSTC, Coal India and Indian Renewable Energy Development Agency was downgraded.
The ‘Excellent’ rating of Hindustan Steelworks Construction could not be accounted for in financial year 2016 since the CPSE was taken over by the National Building Construction Corporation (India).
In 2015-16, none of the CPSEs were rated ‘Poor’, against seven that were ranked ‘Poor’ in fiscal 2015.
Of the CPSEs ranked ‘Poor’ in fiscal 2015, Brahmaputra Valley Fertilizers Corporation Ltd was upgraded to ‘Good’ in 2015-2016.
The ‘Poor’ ranked Assam Ashok Hotel Corporation Ltd was transferred to the Assam government and thus was not rated in fiscal 2016.
The other ‘Poor’ ranked Hindustan Cables Ltd was shut down. All other ‘Poor’ ranked PSUs, namely the Bharat Wagon & Engineering Company, Fertilizers and Chemicals Travancore, Hindustan Organic Chemicals, Rajasthan Drugs & Pharmaceuticals Ltd were upgraded to a ‘Fair’ rating.
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