aglasem
  • Home
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
No Result
View All Result
aglasem
  • Home
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
No Result
View All Result
aglasem
No Result
View All Result

171 PSUs Clock 1.38 Lakh Crore Profit, Total Have 24.61 Lakh Crore Revenue: Details

The Minister of Heavy Industries and Public Enterprises, Prakash Javadekar, clarified that no cost-cutting efforts were taken that would result in unemployment.

by Sagarika
February 11, 2021
in Competitive Exams
Reading Time: 2 mins read

Prakash Javadekar, the Minister of Heavy Industries and Public Enterprises addressed questions regarding Public Sector Undertakings (PSUs) on February 8, 2021. According to the minister, the Central Public Sector Enterprises (CPSEs) had a turnover of Rs.24,61,321 crore in the year 2019-20. Out of the total CPSEs, 171 are profitable achieving a profit of Rs.1,38,112 crore. The minister also provided detailed information on the revenue incurred by the Navratna CPSEs under the annexure attached to the answers.

The ministry on Monday, February 8, 2021, stated in parliament that there exists a total of 256 operational CPSEs in the country. Their total turnover in the financial year 2019-20 was Rs.24,61,321 crore. 171 out of the total 256 PSUs are profitable making who have managed to gain a profit of Rs.1,38,112 crore. All this information was furnished by the CPSEs to the concerned department.

Mr. Javadekar, further provided the information of the revenue earned from operations by all the Navratna PSUs during the financial year 2019-20. Along with this, their Profit earned before taxes or PBT and profit earned after tax or PAT was also mentioned. He also stated that according to the information provided by the Navratna PSEs, no cost-cutting efforts were taken resulting in unemployment.

Annexure 1 attached to the answers contained a list of 14 CPSEs along with their revenue and profit details. CPSEs such as REC Limited, Hindustan Aeronautics Limited and Rashtriya Ispat Nigam Limited incurred a significant amount of revenue after operations. PSUs like PFC Limited, REC Limited and Hindustan Aeronautics Limited gained massive profit in the financial year 2019-20.

The Finance Minister, Nirmala Sitharaman, announced the budget for the upcoming financial year on February 1, 2021. During her announcement, she declared that the government shall earn Rs.1.75 lakh crore from stake sale in public sector companies as well as financial institutions in the coming fiscal year. These shall include 2 PSUs, banks and a general insurance company.

The amount was observed to be lower than Rs. 2.10 lakh crore which was expected to be raised in the current financial year by disinvesting CPSE. However, the lowered amount does not come as a surprise considering the COVID-19 pandemic. The global havoc gravely impacted the government’s CPSE’s PSU stake sale reform and hence, it decided to reduce the target to Rs.32,000 crore in the revised estimation. In the fiscal year 2021-22, Rs. 1 lakh crore is expected to come from selling the government-owned stakes in public sector banks and other financial sources. The remaining Rs. 75,000 lakh crore is supposed to come from the government’s CPSE disinvestment activities.

Tags: PSU
Previous Post

Study Abroad: Know Which 85 Countries Indian Students Go To and Their Popularity

Next Post

ATSE Result Announced! 400 Students Grab 15 Lakh Worth Prizes

Related Posts

Competitive Exams

Anti-Paper Leak Law Implemented by India: A Step Towards Exam Integrity

June 22, 2024
Competitive Exams

Top 13 Daily Current Affairs: 26 Jun 2023

June 27, 2023
Competitive Exams

SSC GD Constable Answer Key 2023 Released : Check Cut Off Marks & Answer Key

February 18, 2023
Competitive Exams

UPRVUNL Admit Card 2022 for AE To Be Released on 3 July at uprvunl.org; Exam Dates are 16, 17 July

July 2, 2022
Competitive Exams

SSC Phase 9 Result 2022, Cut Off Out – What Next?

July 2, 2022
Competitive Exams

RSMSSB VDO Mains Admit Card 2022 releasing today at rsmssb.rajasthan.gov.in – Where To Get Link & Check Exam Date

July 1, 2022
Next Post

ATSE Result Announced! 400 Students Grab 15 Lakh Worth Prizes

New

Explore a Wide Variety of Casino Games and Sports Betting on 1win for Indian Players

May 27, 2025

US University Names Research Institute After Indian Educator Dr. Achyuta Samanta

May 22, 2025

THE Asia University Ranking 2025 Announced – KIIT Climbs to 184th in Asia; Secures 8th Spot in India

April 24, 2025
NEET UG 2022 Exam Date Application Form Latest News by NTA Today

Prof. Achyuta Samanta’s Lifelong Contribution to Healthcare: From Personal Struggles to National Impact

April 7, 2025

10 Galgotias University Students Win Global Recognition in Apple’s Swift Student Challenge 2025

April 5, 2025

Entrance Exams

  • Agricultural Entrance Exams
  • Architecture Entrance Exam
  • Arts and Humanities Entrance Exams
  • Commerce Entrance Examinations
  • Common Entrance Examinations
  • Computer Application Entrance Exams
  • Design Entrance Exams
  • Education Entrance Exams
  • Engineering Entrance Exams
  • Hotel Management Entrance Exams
  • Law Entrance Exams
  • MBA Entrance Exams
  • Media & Journalism Entrance Exams
  • Medical Entrance Exams
  • Nursing Entrance Exams
  • Pharmacy Entrance Exams
  • Science Entrance Exams
  • Diploma & Polytechnic
  • Lateral Entry

Helpful Resources

  • Class Notes
  • NCERT Solutions
  • NCERT Books
  • HC Verma Solutions
  • Courses After Class 12th
  • Previous Year Question Papers
  • More Study Material

Free Mock Tests

  • Agricultural Exams
  • Architecture Exams
  • Education Exams
  • Engineering Exams
  • Law Exams
  • MBA Exams
  • Medical Exams
  • Pharmacy Exams
  • Science Exams
  • More Mock Tests

Entrance Exams

  • Agricultural Entrance Exams
  • Architecture Entrance Exam
  • Arts and Humanities Entrance Exams
  • Commerce Entrance Exams
  • Common Entrance Exams
  • Computer Application Entrance Exams
  • Design Entrance Exams
  • Education Entrance Exams
  • Engineering Entrance Exams
  • Disclaimer
  • Terms of Use
  • Privacy Policy
  • Contact

© 2020 aglasem.com

  • Home
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges

Discover more from AglaSem News

Subscribe now to keep reading and get access to the full archive.

Continue reading