PSU' contribution to central exchequer falls 3% to Rs 3.5 lakh cr in FY'18: Survey
6 years ago

PSU' contribution to central exchequer falls 3% to Rs 3.5 lakh cr in FY'18: Survey

Firstpost  

In 2016-17, CPSEs’ contribution to the exchequer stood at Rs 3,60,815 crore. New Delhi: The contribution of state-owned firms to the central exchequer by way of excise duty, customs duty, GST, corporate tax, dividend and others fell 2.98 percent to Rs 3,50,052 crore in 2017-18, according to a survey tabled in Parliament Thursday. The dividend declared or paid by such firms in the last fiscal stood at Rs 76,578 crore against Rs 78,129 crore in 2016-17, as per the Public Enterprises Survey 2017-18. The central public sector enterprises employed 10.88 lakh people excluding casual and contractual workers in 2017-18 compared to 11.35 lakh in 2016-17, showing a fall of 4.14 percent in employee strength, it said. The Corporate Social Responsibility expenditure of such firms stood at Rs 3,442.42 crore in 2017-18 against Rs 3,338.21 crore in the previous financial year, an increase of 3.12 percent.

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History of this topic

‘Split CPSE shares if trade above 50 times face value’, says finance ministry
1 month, 4 weeks ago

‘Split CPSE shares if trade above 50 times face value’, says finance ministry

New Indian Express  

NEW DELHI: In a major change in capital restructuring guidelines for non-bank public sector entities, the government has mandated listed Central Public Sector Enterprises to consider splitting their shares if they trade above 150 times the face value for six months. As per the guidelines, a listed PSU, where the market price exceeds 150 times its face value consistently for …

Government to Focus on Professionalism, Professionalism of PSUs for Value Creation
2 months, 2 weeks ago

Government to Focus on Professionalism, Professionalism of PSUs for Value Creation

Live Mint  

The Indian government plans to make public sector units (PSUs) more efficient, professional and profitable in the long term rather than sell them early. The focus is on getting them more professionally run, so that their decisions be more board-driven, across sectors, irrespective of whether it is in the strategic or the non-strategic.

CPSEs hold a divestment potential of Rs 11.5 lakh crore
6 months, 1 week ago

CPSEs hold a divestment potential of Rs 11.5 lakh crore

Deccan Chronicle  

Chennai: The government has a divestment potential of Rs 11.5 lakh crore in central public sector companies, public sector banks and insurance companies at the current market capitalization. CareEdge’s analysis based on 59 major listed CPSEs and 15 listed PSBs aånd insurance companies where the government holds more than a 51 per cent stake, finds that the government can achieve …

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23
3 years, 1 month ago

Centre unlikely to announce capital infusion for PSU banks in Budget 2022-23

Firstpost  

Finance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on 1 February New Delhi: The government is unlikely to announce capital infusion for public sector banks in the upcoming Budget, as their financial health has improved on the back of reduction in bad loans, sources said. During the last financial year, PSBs raised …

CPSUs spend only 32 pc of capex target in H1
4 years, 2 months ago

CPSUs spend only 32 pc of capex target in H1

Deccan Chronicle  

Chennai: In the first half, central PSUs have spent only 32 per cent of its capex target for the fiscal. Central PSUs have cleared pending payments of over Rs 13,400 crore to micro, small and medium enterprises in the last five months. Till the first half of the year, they have only achieved 32 per cent or Rs 37,423 crore …

FM Sitharaman Pushes Large CPSEs to Meet 75% of FY21 Capex Target by Dec Against Covid Slump
4 years, 2 months ago

FM Sitharaman Pushes Large CPSEs to Meet 75% of FY21 Capex Target by Dec Against Covid Slump

News 18  

Finance Minister Nirmala Sitharaman on Monday exhorted large central public sector enterprises to achieve by December 75 per cent of their planned capital expenditure target for 2020-21, to support economic growth hit by the COVID-19 crisis. While reviewing the performance of CPSEs, Sitharaman said capex by CPSEs is a critical driver of economic growth and needs to be scaled up …

FM urges CPSEs to meet 75% of capex target by Dec-end
4 years, 2 months ago

FM urges CPSEs to meet 75% of capex target by Dec-end

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Monday nudged central public sector enterprises to meet three-fourth of the capital expenditure target by the third quarter of the current fiscal to help the economy recover from the covid-19 induced slowdown. While reviewing the performance of CPSEs, the finance minister also said that capital expenditure of CPSEs needs to be scaled up …

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter
4 years, 3 months ago

Finance Ministry May Provide Capital Support Worth Rs 20,000 crore to Public Sector Banks in 3rd Quarter

News 18  

The Finance Ministry is likely to provide capital support from the Rs 20,000 crore fund approved by Parliament in recently concluded session to some Public Sector Banks in the third quarter itself. In the last financial year, Punjab National Bank got Rs 16,091 crore, Union Bank of India received Rs 11,768 crore while Canara Bank and Indian Bank got Rs …

Govt Seeks Parliament Nod for Rs 20,000 Crore Capital Infusion in Public Sector Banks
4 years, 4 months ago

Govt Seeks Parliament Nod for Rs 20,000 Crore Capital Infusion in Public Sector Banks

News 18  

The government on Monday sought Parliament’s approval for infusing Rs 20,000 crore in public sector banks in the current financial year to meet regulatory requirements. “For meeting expenditure towards recapitalisation of Public Sector Banks through issue of Government Securities” the government has asked for Parliament’s authorisation of Rs 20,000 crore, as per a document. In 2019-20, the government proposed to …

FM Sitharaman Pushes Large CPSEs to Meet Half of FY21 Capex Target by September amid Covid-19 Crisis
4 years, 5 months ago

FM Sitharaman Pushes Large CPSEs to Meet Half of FY21 Capex Target by September amid Covid-19 Crisis

News 18  

Finance Minister Nirmala Sitharaman on Friday exhorted large central public sector enterprises to achieve by next month 50 per cent of their planned capital expenditure target for FY21 to support economic growth in the backdrop of challenges posed by COVID-19. She asked the secretaries to closely monitor the performance of CPSEs in order to ensure capital expenditure to the tune …

Govt loses 23 paise on each Re of taxpayer money used in PSBs
4 years, 11 months ago

Govt loses 23 paise on each Re of taxpayer money used in PSBs

India TV News  

Each rupee of taxpayers' money invested by the government in NPA-heavy public sector banks as equity are resulting in a loss of 23 paise. In 2019, every rupee of taxpayer money invested in PSBs, on average, lost 23 paise," the Economic Survey 2020 said. Compared to this, every rupee of investor money invested in "New Private Banks" - banks licensed …

FinMin to meet heads of CPSEs for capital expenditure push
5 years, 4 months ago

FinMin to meet heads of CPSEs for capital expenditure push

Live Mint  

To revive sagging economy, the finance ministry will hold meeting with heads of central public sector enterprises on Friday to impress upon them the need to expedite capital expenditure. The government has a capital expenditure plan of ₹3.3 lakh crore during the current financial year. According to official sources, the finance ministry will review the progress made by various CPSEs …

Govt to launch sixth tranche of CPSE Exchange Traded Fund on 18 July; to raise up to Rs 10,000 cr
5 years, 6 months ago

Govt to launch sixth tranche of CPSE Exchange Traded Fund on 18 July; to raise up to Rs 10,000 cr

Firstpost  

The government is planning to raise up to Rs 10,000 crore from the sixth tranche of CPSE ETF which would be launched on 18 July, an official said New Delhi: The government is planning to raise up to Rs 10,000 crore from the sixth tranche of CPSE ETF which would be launched on 18 July, an official said. The CPSE …

Govt aims to reduce stake in state-run firms to minimum in FY20 to meet disinvestment target figure of Rs 1.05 lakh cr
5 years, 6 months ago

Govt aims to reduce stake in state-run firms to minimum in FY20 to meet disinvestment target figure of Rs 1.05 lakh cr

Firstpost  

The government will initiate privatisation of CPSEs as it sets a record high disinvestment target of Rs 1.05 lakh crore that will see the government lowering its stake in some CPSEs to below 51%. New Delhi: The government will attempt to cut its shareholding in state-run companies in 2019/20 to the minimum required under the rules, a government official said, …

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr
5 years, 6 months ago

FinMin assessing capital needs of PSU banks; Budget 2019-20 may make provision for Rs 30,000 cr

Firstpost  

Five weak banks under the Prompt Corrective Action framework of the Reserve Bank of India too need capital to maintain minimum regulatory capital ratios as per the Basel III norms. New Delhi: The Finance Ministry is evaluating capital needs of state-owned banks, and likely to provide about Rs 30,000 crore in the upcoming Budget to help them meet the minimum …

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19
5 years, 9 months ago

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19

Firstpost  

Enemy property refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India. New Delhi: Sale of ’enemy shares’ and buyback of stocks by Central Public Sector Enterprises have together yielded the government over Rs 11,300 crore, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the …

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks
5 years, 10 months ago

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks

India TV News  

In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks. The government will infuse Rs 9,086 crore in Corporation Bank and Rs 6,896 crore in Allahabad Bank -- the two "better-performing" banks currently under the Prompt Corrective Action supervision of the …

PSU banks set to get ₹28,615 crore capital infusion
6 years ago

PSU banks set to get ₹28,615 crore capital infusion

Live Mint  

New Delhi: The government is likely to infuse ₹ 28,615 crore into seven public sector banks through recapitalisation bonds by the end of this month, sources said on Thursday. Out of the seven state-owned banks, Bank of India is likely to get the highest amount of ₹ 10,086 crore, followed by Oriental Bank of Commerce, which might get ₹ 5,500 …

Govt to infuse Rs 83,000 cr in public sector banks in next few months: Arun Jaitley
6 years ago

Govt to infuse Rs 83,000 cr in public sector banks in next few months: Arun Jaitley

Firstpost  

The recapitalisation will enhance the lending capacity of state-owned banks and help them come out of the RBI’s Prompt Corrective Action framework, Arun Jaitley said. New Delhi: The government on Thursday said it will enhance the capital infusion in public sector banks to Rs 83,000 crore, taking the total to Rs 1.06 lakh crore for the fiscal. The capital will …

Finance ministry shortlists 11 CPSEs for share buyback in the ongoing financial year
6 years, 4 months ago

Finance ministry shortlists 11 CPSEs for share buyback in the ongoing financial year

Firstpost  

As per the guidelines, CPSEs having net worth of at least Rs 2,000 crore and cash and bank balance of above Rs 1,000 crore have to mandatorily go in for share buyback. New Delhi: The Finance Ministry has shortlisted about a dozen companies, including Coal India, NTPC, NALCO and NMDC, for a possible buyback of shares in the ongoing financial …

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