Central PSUs Suffered Cumulative Loss Of More Than Rs 1.5 Lakh Crores In Last Five Years
Nearly a quarter of all CPSUs posted a loss in 2021-22, as per the data provided by the Finance Ministry
Indian Public Sector Undertakings collectively suffered losses to the tune of Rs. 1.5 lakh crores in the last five years, the Finance Ministry informed the parliament on Tuesday.
As per information provided by Minister of State for Finance Bhagwat Karad on March 21 in response to a question in the Rajya Sabha, there were 248 CPSUs in operation at the end of 2021-22. As many as 72 were loss-making in 2017-18, Karad told the House. This number eased slightly to 69 in 2018-19, before shooting up to 84 in 2019-20.
Since then, the number of loss-making CPSUs has reduced: first to 76 in 2020-21 and then to 59 in 2021-22.
In terms of the total losses made by PSUs, last year saw a substantial reduction to Rs 14,586 crore, down from losses of Rs 44,239 crore in 2019-20.
Cumulatively, the five-year period stretching from 2017-18 to 2021-22 saw CPSUs in the red by as much as Rs. 1.54 lakh crore, the data showed.
“Enterprise-specific measures for their turnaround are taken by the respective Boards and administrative Ministries/Departments having jurisdiction over the CPSUs concerned,” Karad told the Upper House of Parliament yesterday.
