Audit Reports
Rajasthan
Report No. 1 of 2014 - Performance Audit on Public Sector Undertakings of Government of Rajasthan
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 the CAG. These accounts are also subject to supplementary audit conducted by the CAG. Audit of Statutory Corporations is governed by their respective legislations. As on 31 March 2013, Rajasthan had 46 working PSUs (43 Companies and three Statutory Corporations) and two non-working PSUs (all companies), which employed around one lakh employees. The working PSUs registered a turnover of RS 33486.33 crore for 2012-13 as per their latest finalised accounts. This turnover was equal to seven per cent of the State GDP indicating an important role played by the State PSUs in the economy.
As on 31 March 2013, the investment (Capital and long term loans) in 48 PSUs was RS 72018.13 crore. It grew by over 227.39 per cent from RS 21997.39 crore in 2007-08. Power Sector accounted for 92.31 per cent of total investment in 2012-13. The Government contributed RS 8570.76 crore towards equity, loans and grants/subsidies during 2012-13.
During the year 2012-13, out of 46 working PSUs, 18 PSUs earned profit of RS 1071.40 crore and 26 PSUs incurred loss of RS 14782.25 crore. Out of remaining two PSUs, Rajasthan State Refinery Limited had no profit and loss for the year 2012-13 and Kota City Transport Services Limited did not submit annual accounts since its incorporation in 2006-07. The major contributors to profit were Rajasthan State Mines and Minerals Limited (RS 615.83 crore) and Rajasthan State Industrial Development and Investment Corporation Limited (RS 271.39 crore). The heavy losses were incurred by the three power distribution companies (JdVVNL -
RS 6178.90 crore, JVVNL - RS 4161.23 crore and AVVNL - RS 3904.73 crore).