India has 320 central PSUs -Governance Now

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.

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