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About 17,000 cr equity support to PSUs in Budget

By Staff
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New Delhi, Feb 28: Pointing out that the Government was committed to a strong and effective public sector, Finance Minister P Chidambaram today (Feb 28, 2006) announced an equity support of Rs 16,901 crore to Central Public Sector Undertakings (PSUs) in Budget 2006-07.

This will be in addition to loans of Rs 2,789 crore, Mr Chidambaram said in his Budget proposals.

"In 2006-07, the PSUs have investment plans of Rs 122,757 crore, through internal and extra-budgetary resources," he said.

The UPA Government, in the past two years, has infused Rs 1,180 crore in cash and made non-cash sacrifices of Rs 2.566 crore to restructure ten PSUs, including Indian Telephone Industries Ltd and Heavy Engineering Corporation Ltd.

Mr Chidambaram also raised the budgetary expenditure for the Ministry of Heavy Industries and Public Enterprises from Rs 929 crore (revised estimates) to Rs 1,392 crore.

UNI

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