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Andhra Pradesh

Report of 2011 - Performance Audit on Commercial of Government of Andhra Pradesh

Date on which Report Tabled:
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Government Type:
State
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Sector Industry and Commerce

Overview

Audit of Government Companies is governed by Section 619 of the Companies Act, 1956. The accounts of Government Companies are audited by Statutory Auditors appointed by the CAG. These accounts are also subject to supplementary audit conducted by the CAG. Audit of Statutory Corporations is governed by their respective legislations. As on 31 March 2011, the State of Andhra Pradesh had 48 working PSUs (45 companies including six 619B companies and three Statutory Corporations) and 24 non-working PSUs (all companies including six 619B companies), which employed 2.64 lakh employees. The State working PSUs registered a turnover of Rs.61,476.93 crore for 2010-11 as per the latest finalized accounts. This turnover was equal to 10.83 per cent of State GDP indicating an important role played by State PSUs in the economy. The working State PSUs earned a profit of Rs.238.56 crore in aggregate for the year 2010-11 and had accumulated losses of Rs.2,711.66 crore.

As on 31 March 2011 the investment (Capital and long term loans) in 72 PSUs was Rs. 50,165.06 crore. It grew by 56.93 per cent from Rs. 31,967.13 crore in 2005-06. Power sector accounted for 53.76 per cent of total investment in 2010-11. The Government contributed Rs. 9,071.46 crore towards equity, loans and grants/subsidies during 2010-11.

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Last updated: 18 Apr 2024
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