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Compliance
Commercial

Report No. 2 of 2009-10 - Compliance Audit on Financial Reporting by Central Public Sector Undertakings of Union Government, Commercial

Date on which Report Tabled:
Sun 15 Aug, 2010
Date of sending the report to Government
Government Type
Union
Union Department
Commercial
Sector Finance

Overview

As on 31 March 2009, there were 438 central government Public Sector Undertakings (PSUs) under the audit jurisdiction of the Comptroller and Auditor General of India. These included 321 government companies, 111 deemed government companies and six statutory corporations.  This report deals with 392 PSUs comprising 294 government companies, 92 deemed government companies and six statutory corporations. Forty six companies are not covered in this report. Out of them, accounts of 10 PSUs were in arrears for three years or more, two PSUs had not submitted their first accounts, 32 PSUs were defunct/under liquidation and accounts of two PSUs were not due.

The accounts of 392 PSUs (348 for current year and 44 for earlier years) indicated that the Government of India had invested Rs.1,61,712 crore directly in the equity capital of 300 government companies and corporations and Rs.94 crore in three deemed government companies. Loans amounting to Rs.62,998 crore had also been received by the PSUs directly from the Government of India as on 31 March 2009. Compared to the previous year, investment in equity of PSUs by the Government of India registered a net increase of Rs.14,995 crore and loans given to them decreased by Rs.14,994 crore.

The market value of shares of 39 listed government companies as per prices prevailing in stock markets on 31 March 2009 stood at Rs.8,15,606.31 crore. This compared favourably with the total book value of their shares at Rs.3,51,794.67 crore. Market value of shares held by the Government of India and government companies in these companies stood at Rs.6,70,539.86 crore as on 31 March 2009 as compared with the book value of Rs.2,75,773.91 crore.

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