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January 2010

The CAG report on public sector units is a scandal in numbers.

By Raman Jokhakar, Tarunkumar Singhal, Chartered Accountants
Reading Time 1 mins
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  1. The CAG report on public
    sector units is a scandal in numbers.

  • 419 number of Central public sector undertakings.

  • Rs.4,77,191 crore invested in equity and loans in
    government companies, corporations and institutions.

  • 284 companies and corporations audited by CAG. Of these
    185 earned profits, 70 were in the red and 24 were not operational.

  • 30 number of PSUs that were defunct or under liquidation.

  • 13 number of companies recommended for closure, winding
    up.

  • 72 number of companies with a negative net worth.

  • Rs.94,428 crore accumulated losses of the 72 companies in
    2007-08.

(Source : Business India Magazine, dated 8-11-2009)

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