/BSNL, Air India, MTNL highest loss-making PSUs in FY19; ONGC most worthwhile: Survey

BSNL, Air India, MTNL highest loss-making PSUs in FY19; ONGC most worthwhile: Survey

ONGC, Indian Oil Company and NTPC had been the highest three worthwhile PSUs in 2018-19, whereas BSNL, Air India and MTNL incurred highest losses for a 3rd consecutive yr, in accordance with a survey tabled in Parliament on Monday.

The Public Enterprises Survey 2018-19, which maps the annual monetary efficiency of all central PSUs, revealed that the highest 10 corporations within the crimson claimed a whopping 94.04 per cent of the full losses made by all of the 70 loss making CPSEs in the course of the yr.

The highest three revenue making PSUs together with Oil and Pure Gasoline Company (ONGC), Indian Oil Company and NTPC contributed 15.Three per cent, 9.68 per cent and 6.73 per cent, respectively to the full revenue earned by all worthwhile CPSEs.

State Buying and selling Company of India, MSTC and Chennai Petroleum Company which had been revenue making CPSEs in 2017-18, incurred losses in 2018-19 and likewise function among the many prime ten loss- making companies, the survey discovered.

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Complete revenue of all CPSEs throughout 2018-19 stood at Rs 24,40,748 crore in comparison with Rs 20,32,001 crore in 2017-18, exhibiting a development of 20.12 per cent.

The contribution of CPSEs to the central exchequer by means of excise obligation, customs obligation, GST, company tax, curiosity on central authorities loans, dividend and different duties and taxes stood at Rs 3,68,803 crore in 2018-19 as in opposition to Rs 3,52,361 crore in 2017-18, exhibiting a rise of 4.67 per cent.

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The Division of Public Enterprises (DPE), Ministry of Heavy Industries & Public Enterprises, brings out the Public Sector Enterprises Survey on the efficiency of central public sector enterprises (CPSEs) yearly.

As per the survey, there have been whole 348 CPSEs as on March 31, 2019 out of which 249 had been operational. The remaining 86 had been beneath development and 13 had been beneath closure or liquidation.