Central Public Sector produce increases by 72 percent

New Delhi, Feb 16 (ANI): Acting Finance Minister Pranab Mukherjee today said that the turn over of the Central Public Sector Enterprises (CPSEs) has increased from Rs. 5,87,000 crore in 2003-04 to Rs. 10,81,000 crore in 2007-08 showing a growth of 84 percent.

Presenting the Interim Budget 2009-2010 in the Lok Sabha, Mukhrjee said, "During the same period profits of the CPSEs have increased by 72 per cent from Rs. 53,000 crore to Rs. 91,000 crore and their contribution to the central exchequer by way of dividend, interest and taxes and duties has recorded an increase of 86 per cent."

"The number of loss making enterprises has come down from 73 in 2003-04 to 55 in 2007-08 and the number of profit making enterprises has gone up from 143 to 158 during the same period," he added.

He further said that in order to maintain ethics and probity in the functioning of the CPSEs, the Government has approved the implementation of guidelines on corporate governance in the CPSEs in June 2007.

"In November 2007, the Government constituted the National Investment Fund into which the proceeds from disinvestment of the Government equity in central PSEs are deposited," he said.

"Three-quarters of annual income of the fund will be used to finance select social sector schemes, which promote education, health and employment. The residual 25 per cent annual income of the fund will be used to meet the capital investment requirements of profitable and revivable CPSEs," he added. (ANI)