Audit Reports
Uttar Pradesh
Report No. 4 of 2015 - Performance Audit on PSUs of Government of Uttar Pradesh
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 Comptroller and Auditor General of India. These Accounts are also subject to supplementary audit conducted by Comptroller and Auditor General of India. Audit of Statutory corporations is governed by their respective legislations. As on 31 March 2014, the State of Uttar Pradesh had 87 working PSUs (80 companies and seven Statutory corporations) and 39 non-working PSUs (all companies). The working PSUs registered a turnover of Rs 65,683.38 crore and incurred overall aggregate loss of Rs 12,223.08 crore as per their latest finalised accounts.
Investments in PSUs As on 31 March 2014, the Investment (Capital and Long Term Loans) in 126 PSUs was Rs 1,56,906.28 crore. It grew by 296.53 per cent from Rs 52,915.82 crore in 2008-09 to Rs 1,56,906.28 crore in 2013-14 mainly because of increase in Investment in Power Sector which accounted for 95.76 per cent of the total Investment in 2013-14. The Government contributed Rs 8338.29 crore towards Equity, Loans and Grants/Subsidies to State PSUs during 2013-14.
Performance of PSUs As per the latest finalised accounts, out of 87 working PSUs, 28 PSUs earned Profit of Rs 1,315.03 crore and 27 PSUs incurred Loss of Rs 13,538.11 crore.