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Compliance Financial Performance
Uttar Pradesh

Report of the Comptroller and Auditor General of India (Public Sector Undertakings) for the year ended 31 March 2012, Government of Uttar Pradesh, Report No. 1 of 2013

Date on which Report Tabled:
Mon 16 Sep, 2013
Date of sending the report to Government:
Government Type:
State
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Sector Transport & Infrastructure,Power & Energy,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 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 2012, the State of Uttar Pradesh had 85 working PSUs (78 companies and seven Statutory corporations) and 43 non-working PSUs (all companies), which employed 0.79 lakh employees. The working PSUs registered a turnover of RS 42,987.46 crore for 2011-12 as per their latest finalised Accounts. This turnover was equal to 6.25 per cent of the State GDP indicating a moderate role played by the State PSUs in the economy. However, the working PSUs incurred overall Loss of RS 6,489.58 crore in 2011-12 and had Accumulated losses of RS 27,742.12 crore.

As on 31 March 2012, the Investment (Capital and Long Term Loans) in 128 PSUs was RS 97,867.69 crore. It grew by over 238.05 per cent from RS 28,950.50 crore in 2006-07 to RS 97,867.69 crore in 2011-12 mainly because of increase in Investment in Power Sector which accounted for 93.38 per cent of the total Investment in 2011-12. The Government contributed RS 7,446.16 crore towards Equity, Loans and Grants/Subsidies during 2011-12.

The losses incurred by working PSUs increased from RS 499.50 crore in 2006-07 to RS 6,489.58 crore in 2011-12. During the year 2011-12, out of 85 working PSUs, 32 PSUs earned Profit of RS 1,201.57 crore and 23 PSUs incurred Loss of RS 7,691.15 crore. Five working PSUs had not submitted their first Accounts whereas 25 companies maintained their Accounts on "No Profit No Loss" basis. The major contributors to Profit were Uttar Pradesh Avas Evam Vikas Parishad (RS 358.80 crore), Uttar Pradesh Rajkiya Nirman Nigam Limited (RS 225.46 crore), Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (RS 126.38 crore) and Uttar Pradesh Forest Corporation (RS 125.17 crore). The heavy losses were incurred by four Power Sector companies (total RS 6,849.96 crore).

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Last updated: 22 Nov 2024
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