Public Enterprises Survey

Higher demand after the pandemic and a fall in expenditure helped these CPSEs increase their turnover and revenue

The government deplores the lack of good leadership in these companies but it adds to the problem with sub-optimal appointment practices for chief executives in this sector

According to the report, the number of women employees in CPSEs declined 9.5% to 80,525 in FY21 when pandemic hit the economy

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

The decline was mainly attributed to a sharp reduction in the profits of petroleum refiners and marketing cognate groups

State owned telecommunications services providers Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited apart from state carrier Air India registered a net loss of more than Rs. 116.86 Billion in 2016-17, effectively becoming the top 3 loss making ventures of the government.The Public Enterprises Survey 2016-17, tabled in parliament on Tuesday by the Department of Public Enterprises, showed that the number of loss making central enterprises have continued to rise for the third straight year, growing to 82 in the last financial year. Over the past 4 years, the Modi government has stepped up its effort to streamline its operations spread across hundreds of Central Public Sector Enterprises (CPSE) and is hoping to rake in about Rs. 1000 billion in 2017-18 through disinvestment in these firms. The preliminary target for 2018-19 is currently Rs. 800 billion.However, the net loss posted by all 82 loss making central ventures is a staggering Rs. 250.45 billion. Of this figure, ..