There were 198 government companies and corporations with accumulated losses of Rs 2,00,419 crore, as on March 31, 2021, and of these, the net worth of 88 companies had been completely eroded by their accumulated losses, a CAG report said.
“As a result, the aggregate net worth of these companies had become negative to the extent of Rs 1,13,894 crore as on March 31, 2021. Only 20 out of these 88 companies earned a profit of Rs 973 crore during the year 2020-21,” the General Purpose Financial Reports of Central Public Sector Enterprises (CPSEs) Union Government (Commercial) – Report No. 27 of 2022, tabled in Parliament on Thursday, said.
The report deals with 453 government companies and corporations (including six statutory corporations) and 180 government-controlled other companies. As many as 84 CPSEs (including 23 government-controlled other companies) whose accounts were in arrears for three years or more or were under liquidation or first accounts were not due are not covered in this Report.
