Audit Reports
Haryana
Report of 2011 - Financial Audit on Commercial of Government of Haryana
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 CAG. These accounts are also subject to supplementary audit conducted by CAG. Audit of Statutory corporations is governed by their respective legislations. As on 31 March 2011, the State of Haryana had 22 working PSUs, (20 companies and two Statutory corporations) and seven nonworking PSUs (all companies). The State working PSUs, which employed 0.40 lakh employees, had registered a turnover of Rs. 18,756.18 crore for 2010-11 as per their latest finalised accounts. This turnover was equal to 7.28 of State GDP indicating an important role played by State PSUs in the economy. However, the working PSUs incurred aloss of Rs. 1,239.22 crore for 2010-11 while all the State PSUs had overall accumulated losses of Rs. 5,676.03 crore.
As on 31 March 2011, the investment (capital and long term loans) in 29 PSUs was Rs. 27,710.70 crore. It grew by 155.64 from Rs. 10,839.87 crore in 2005-06. Power Sector accounted for nearly 95 of total investment in 2010-11 . The Government contributed Rs. 6,847.58 crore towards equity, loans and grants/ subsidies during 2010-11.
During the year 2010-11, out of 22 working PSUs, 17 PSUs earned profit of Rs. 426.30 crore and five PSUs incurred loss of Rs. 1,665.52 crore. The major contributors to profit were Haryana Vidyut Prasaran Nigam Limited ( Rs. 187.61 crore), Haryana Power Generation Corporation Limited ( Rs. 75.09 crore) and Haryana State Industrial and Infrastructure Development Corporation Limited ( Rs. 69.95 crore). The heavy losses were incurred by Uttar Haryana Bijli Vitran Nigam Limited (Rs. 884.22 crore) and Dakshin Haryana Bijli Vitran Nigam Limited (Rs.779.01 crore).
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