Govt Putting Emphasis On Increasing Turnover, Efficiency And Profitability Of CPSEs: Union Minister Javadekar

Union Heavy Industries Minister Prakash Javadekar on Wednesday (30 September) said that the Central Public Sector Enterprises (CPSEs) were the pride of the nation and that the Prime Minister Modi led central government was putting emphasis on increasing efficiency, turnover and profitability of these units.

Javadekar said this during the launch of a compendium titled - Building Self-Reliance, Self-Resurgent and Resilient India, that detailed the contribution of CPSEs during the Covid-19 pandemic.

He lauded the work done by the public sector enterprises during the Covid-19 pandemic.

“Electricity supply during COVID pandemic was 99 percent, nearly 24,000 LPG distributors, 71,000 retail outlets, 6,500 SKO dealers were open round the clock to serve people,”, Javadekar said, according to an official release.

Praising the CPSEs for maintaining nearly 100 percent goods movement and goods production, the minister said, “Around 71 crores LPG cylinders were supplied to the people, OMCs have given 21 crore free refills to consumers for a period of 3 months from April to June with financial assistance of Rs 13000 Crore”.

The CPSEs also gave medical assistance by providing nearly 11,000 beds in 201 hospitals spread across major cities and remote locations of the country, the minister said.

Javadekar further said that as the country unlocks and marches towards “AatmaNirbhar Bharat” the role of PSE’s gains even more importance.

“Today there are total number of 249 operating CPSEs with turnover of more than Rs 25 lakh crore with annual net profit of approximately Rs 1.75 lakh crore; they pay around 3.62 lakh crore in the form of dividend, interest, taxes and GST and also the Corporate Social Responsibility expenditure by them is approximately Rs 3500 crore annually,” informed Javadekar.