(Photo: Reuters)
(Photo: Reuters)

Losses incurred by 71 central PSUs during FY18 rise to 31,261 cr

  • The information was shared by Prakash Javadekar, Minister of Heavy Industries & Public Enterprises, in a written reply in the Lok Sabha on Tuesday
  • 81 CPSEs had incurred losses to the tune of 27,480 crore in FY17

New Delhi: The losses incurred by 71 Central Public Sector Enterprises (CPSEs) in 2017-18 rose to 31,261 crore from 27,480 crore made by 81 companies in the previous fiscal, as per the latest data released by the government.

The information was shared by Prakash Javadekar, Minister of Heavy Industries & Public Enterprises, in a written reply in the Lok Sabha on Tuesday.

As per Public Enterprise Survey 2017-18 there were 339 CPSEs functioning in the country including Maharashtra under different ministries/departments.

Finance minister Nirmala Sitharaman, in her maiden budget, had increased the divestment target from 90,000 crore to over 1,05,000 crore for the current fiscal year, focusing on consolidation of public sector undertakings and strategic disinvestment.

Minister of State for Finance and Corporate Affairs Anurag Thakur informed the Lok Sabha on Monday that the Cabinet Committee on Economic Affairs had approved strategic sale of 28 PSUs.

The governement is currently engaged in two such strategic divestments, one of Air India and the other of Bharat Petroleum Corporation Limited, both of which it aims to divest by March.

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