The performance of public sector firms has shown a strong improvement in 2010-11.
The net worth of 248 such firms has gone up 10 per cent, to Rs 7.23 lakh crore. This was stated by the Union Minister for Heavy Industries, Mr Praful Patel, in Parliament while tabling the 51st Public Enterprises Survey.
Central public sector enterprises (CPSEs) such as NTPC, Oil and Natural Gas Corporation and Steel Authority of India, together gave Rs 1.56 lakh crore to the central exchequer as taxes, dividend and interest on loans. A growth of 12 per cent over 2009-10, this was important for the Government looking to rein in a widening fiscal deficit, when divestment proceeds have been lower than expected.
“There were 248 CPSEs in 2010-11, out of which 220 were in operation. The remaining 28 CPSEs were under construction,” the Minister said.
He said the profits across the sector stood at Rs 92,077 crore in 2010-11, after discounting the Rs 21,693 crore worth of losses by those CPSEs in the red.
Total turnover of the sector during 2010-11 rose 18 per cent to Rs 14.73 crore, even as the reserves and surplus climbed eight per cent to Rs 6.55 lakh crore. Forex earnings through exports of goods and services increased 15 per cent to Rs 97,004 crore in 2010-11.
Total investment (equity plus long term loans) in all CPSEs stood at Rs 6.66 lakh crore, recording a growth of 15 per cent. Meanwhile, in terms of market capitalisation at the Bombay Stock Exchange, 45 listed CPSEs saw a rise of six per cent to Rs 15.06 lakh crore (based on stock price on March 31, 2011).