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Audit Reports
Compliance
Performance
Andhra Pradesh
Report No. 5 of 2014 - Report of the Comptroller and Auditor General of India on Public Sector Undertakings for the year ended March 2013 Government of Andhra Pradesh
Date on which Report Tabled:
Mon 09 Jun, 2014
Date of sending the report to Government:
Government Type:
State
Sector
Industry and Commerce
Overview
The State Public Sector Undertakings (PSUs), consisting of State government companies and Statutory corporations, are established to carry out activities of commercial nature, while keeping in view the welfare of the people. In Andhra Pradesh, the State PSUs occupy an important place in the State economy. Their accounts are also subject to supplementary audit conducted by CAG as per the provisions of Section 619 of the Companies Act, 1956. Audit of Statutory corporations is governed by their respective legislations.
As on 31 March 2013, the State of Andhra Pradesh had 52 working PSUs (49 companies and three Statutory corporations) and 24 non-working PSUs (all companies). As of the same date the investment(capital and long-term loans) in these 76 PSUs (including 619-B companies) was Rs. 64,426.77 crore. The investment has grown by 85.08 per cent from Rs. 34,809.43 crore in 2007-08 to Rs. 64,426.77 crore in 2012-13. Thrust of investment was mainly in the power sector PSUs.