India has 320 central PSUs

The business transacted annually by the central PSUs was Rs. 18,54,667 crore

GN Bureau | December 22, 2017


#PSU   #Parliament   #Winter Session  

There were 320 Central Public Sector Enterprises in the country, the parliament was informed.

Union minister Pon Radhakrishnan said that the total investment therein was Rs. 11,71,844 crore, business transacted annually by them was Rs. 18,54,667 crore and the number of persons employed in these CPSEs is 12.34 lakh (excluding contractual workers).

The minister said that the criteria for strategic disinvestment of CPSEs is not based on profitability. NITI Aayog has been mandated to identify the CPSEs for strategic disinvestment. NITI Aayog in its report has stated that it has been guided by the basic economic principle that the government should have no business to continue to engage itself in manufacturing/producing goods and services in sectors where the competitive markets have come of age, and such entities would most likely perform better in the private hands due to various factors e.g. technology up-gradation and efficient management practices; and would thus add to the GDP of the country.

NITI Aayog has classified CPSEs into “high priority” and “low priority” based on (a) National security (b) Sovereign function at arm’s length, and (c) Market imperfections and public purpose, for the purpose of strategic disinvestment. The CPSEs falling under “low priority” are covered for strategic disinvestment.

On strategic disinvestment, it is expected that the strategic buyer will bring in funds/technology/new management etc. for the optimum development of business potential and growth of the companies. The growth of companies, post disinvestment, would be able to generate higher economic activity, said the minister.

Comments

 

Other News

Targeting root causes of cancer with green policies

The Budget 2025 was splashed across headlines with its innumerable numbers and policies, but lurking behind the balance sheets is a threat that it has not accounted for yet — the silent, merciless clutches of cancer. The World Health Organisation (WHO) states that it remains one of humanity`s mo

Congress needs course correction: Prithviraj Chavan

Prithviraj Chavan, a former Maharashtra chief minister and veteran Congress leader, feels his party has probably failed to provide a viable alternative to the government, and it needs a course correction. “I do acknowledge that the Congress party may have failed to provide the alternat

Major haul of illegal arms and ammunition in Manipur

In a significant breakthrough, Manipur Police, in a joint operation with Central Armed Police Forces (CAPFs), the Indian Army, and Assam Rifles, recovered a massive cache of illegal arms, ammunition, and explosives during coordinated search operations across five valley districts in the intervening night o

PM visits crash site, meets the injured

Prime minister Narendra Modi on Friday visited the Air India flight crash site in Ahmedabad to assess the situation first-hand. He met officials and emergency response teams working tirelessly in the aftermath of the disaster. He also condoled the loss of numerous lives in the tragic air accident. He con

Air India flight crashes in Ahmedabad

The Air India flight to London crashed in Ahmedabad within munites of the take-off Thursday afternoon. There were 232 passengers and 10 crew members aboard, and reports suggest there was slim chances of anyone surviving. The Boeing 787 Dreamliner crashed and exploded in a fireball barely out

Cabinet approves two multitracking projects of Railways

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday approved two projects of the railways ministry with a total cost of Rs. 6,405 crore. These projects include:  1. Koderma – Barkakana Doubling (133 Kms): The project sec

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter