 "borrowing, money, debt, loan")
Hundred government companies and corporations paid a dividend of Rs 36,709 crore to the Centre during 2018-19, as per a CAG report.
"100 Government Companies and Corporations declared a dividend of Rs 71,857 crore during the year 2018-19.
"Out of this, the dividend received/receivable by Central Government amounted to Rs 36,709 crore which represented 9.16 per cent return on the total investment by the Central Government (Rs 4,00,909 crore) in all Government Companies and Corporations," said the report of the Comptroller and Auditor General of India (CAG) tabled in Parliament on Tuesday.
It further said 13 government companies under the Ministry of Petroleum and Natural Gas contributed Rs 29,272 crore, representing 40.74 per cent of the total dividend declared by all government companies and corporations.
Non-compliance with directive of Government of India on declaration of dividend by 36 CPSEs resulted in a shortfall of Rs 8,011.33 crore in the payment of dividend for the year 2018-19, it added.
Also Read
The report also said there were 157 Central Public Sector Enterprises (CPSEs) that incurred losses during 2018-19. The losses amounted to Rs 37,310 crore compared to Rs 41,180 crore in 2017-18.
It said there were 189 government companies and corporations with accumulated losses of Rs 1,40,307.55 crore as on March 31, 2019. Of these, the net worth of 77 companies had been completely eroded by their accumulated losses.
As a result, the aggregate net worth of these companies had become negative to the extent of Rs 83,394.28 crore as on March 31, 2019. Only 15 out of these 77 companies earned profit of Rs 662.45 crore during the year 2018-19.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
