NEW DELHI: The net worth of 77 central public sector enterprises (CPSEs) had been completely eroded by their accumulated losses, shows the latest CAG report. It said there were 189 government companies and corporations with accumulated losses of Rs 1,40,307.55 crore as on March 31, 2019.
Air India’s net worth was (–) Rs 24893 crore as on March 31, 2019. The audit report tabled in Parliament said 247 government companies and corporations earned a profit of Rs 1,77,932 crore during 2018-19 of which, 73 per cent (Rs 1,29,887 crore) was contributed by 63 government companies and corporations in three sectors such as petroleum and lignite and power. Return on Equity in these 247 CPSEs was 18.58 per cent in Hundred government companies and corporations paid a dividend of Rs 36,709 crore to the Centre during 2018-19, the report said.
“100 Government Companies and Corporations declared a dividend of Rs 71,857 crore during the year 2018-19 as compared to 19.03 per cent in 225 CPSEs in 2017-18. Thirteen government companies under the Ministry of Petroleum and Natural Gas contributed Rs 29,272 crore representing 40.74 per cent of the total dividend declared by all Government Companies and Corporations.”
The report highlighted that non-compliance with the directive of the government on the declaration of dividend by 36 CPSEs resulted in a shortfall of Rs 8,011.33 crore in the payment for 2018-19. There were 157 CPSEs that incurred losses during that fiscal. The losses incurred by these firms during the year 2018-19 amounted to Rs 37,310 crore compared to Rs 41,180 crore in 2017-18.
