Audit Reports
Rajasthan
Report No. 2 of 2012 - 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 CAG. These accounts are also subject to supplementary audit conducted by CAG. Audit of Statutory Corporations is governed by their respective legislations. As on 31 March 2012, the State of Rajasthan had 44 working PSUs (41 companies and three Statutory Corporations) and three non-working PSUs (all companies), which employed 0.87 lakh employees. The working PSUs registered a turnover of RS 32440.58 crore for 2011-12 as per their latest finalised accounts. This turnover was equal to 8.81 per cent of State GDP indicating an important role played by State PSUs in the economy.
Stake of Government of Rajasthan and Budgetary support As on 31 March 2012, the investment (Capital and long term loans) in 47 PSUs was RS 59724.03 crore. It grew by over 262.28 per cent from RS 16485.41 crore in 2006-07. Power Sector accounted for nearly 93 per cent of total investment in 2011-12. The Government contributed RS 10327.42 crore towards equity, loans and grants/subsidies during 2011-12.
During the year 2011-12, out of 44 working PSUs, 14 PSUs earned profit of RS 1026.90 crore and 21 PSUs incurred loss of RS 258.35 crore while three power sector PSUs incorporated in 2000-01 prepared accounts on No profit no loss basis by showing revenue gap as recoverable from the State Government. The major contributors to profit were Rajasthan State Industrial Development and Investment Corporation Limited (RS 463.48 crore) and Rajasthan State Mines and Minerals Limited (RS 403.97 crore). The heavy losses were incurred by Rajasthan State Road Transport Corporation (RS 130.89 crore).
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