• AglaSem
  • Schools
  • Admission
  • Career
  • Cut Offs
  • News
  • Hindi
  • Mock Test
  • Docs
  • ATSE
aglasem
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation
No Result
View All Result
aglasem
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation
No Result
View All Result
aglasem
No Result
View All Result

Home » Competitive Exams » 171 PSUs Clock 1.38 Lakh Crore Profit, Total Have 24.61 Lakh Crore Revenue: Details

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: 2min read
0
PSUs
Share on WhatsAppShare on Facebook

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.

LPUNEST 2021 Application Form

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.

Subscribe For Latest Updates
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

Sagarika

Related Posts

Competitive Exams

Latest Government Job Notifications 06 Mar 2021 [Live] – West Central Railways and more!

March 6, 2021
Competitive Exams

Latest Government Job Notifications 05 Mar 2021 [Live] – HSSC Gram Sachiv and more!

March 5, 2021
Competitive Exams

North Eastern Railway Recruitment 2021; Latest Notification Out for Visiting Specialists; Get Details Here

March 4, 2021
Competitive Exams

Latest Government Job Notifications 04 Mar 2021 [Live] – HSSC Canal Patwari and more

March 4, 2021
Competitive Exams

Latest Government Job Notifications 03 Mar 2021 [Live] – Bank of Baroda and more

March 3, 2021
Competitive Exams

BHEL Haridwar Recruitment 2021; Notification Out for Trade Apprentices

March 3, 2021
Next Post
ATSE 2020 Result Out

ATSE Result Announced! 400 Students Grab 15 Lakh Worth Prizes

Registrations Open!!

LPUNEST 2021 Application Form

Top Three

Anantapur Anganwadi Notification 2019

Anantapur Anganwadi Notification 2019 Out; Apply for 329 vacancies

November 27, 2019
CBSE Class X, XII Datesheet Revised

CBSE Releases Revised 10th, 12th Boards Date Sheet; Check New Dates Here

March 5, 2021

Latest Government Job Notifications 05 Mar 2021 [Live] – HSSC Gram Sachiv and more!

March 5, 2021
  • Disclaimer
  • Terms of Use
  • Privacy Policy
  • Contact

© 2020 aglasem.com

No Result
View All Result
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation

© 2020 aglasem.com

AglaSem Notes Click Here