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.

Comments

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2