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Compliance Financial Performance
Uttar Pradesh

Report of the Comptroller and Auditor General of India No. 4 Commercial for the year ended 31 March 2010, Government of Uttar Pradesh

Date on which Report Tabled:
Fri 05 Aug, 2011
Date of sending the report to Government:
Government Type:
State
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Sector Power & Energy,Industry and Commerce,Agriculture and Rural Development

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 2010, the State of Uttar Pradesh had 83 working PSUs (76 companies and 7 Statutory corporations) and 43 non-working PSUs (all companies), which employed 0.78 lakh employees. The working PSUs registered a turnover of RS 35,541.61 crore for 2009-10 as per their latest finalised accounts. This turnover was equal to 9.94 per cent of the State GDP indicating a moderate role played by the State PSUs in the economy. However, the working    PSUs incurred overall loss of RS 3,919.77 crore in 2009-10 and had accumulated losses of RS 17,889.43 crore.

As on 31 March 2010, the investment (Capital and long term loans) in 126 PSUs was RS 62,997.81 crore. It grew by over 137.05 per cent from RS 26,576.17 crore in 2004-05 mainly because of increase in investment in power sector. Power Sector accounted for 90.04 per cent of the total investment in 2009-10. The Government contributed RS 8,111.91 crore towards equity and grants/subsidies during 2009-10.

During the year 2009-10, out of 83 working PSUs, 33 PSUs earned profit of RS 1,081.60 crore and 21 PSUs incurred loss of RS 5,001.37 crore. Two working PSUs, which were incorporated during 2006-07 had not submitted their first accounts whereas 27 companies remained at no profit no loss. The major contributors to profit were Uttar Pradesh Avas Evam Vikas Parishad (RS 424.13 crore), Uttar Pradesh Rajkiya Nirman Nigam Limited (RS 195.64 crore), Uttar Pradesh State Industrial Development Corporation Limited (RS 97.01 crore), Uttar Pradesh Forest Corporation (RS 101.59 crore), Uttar Pradesh Jal Nigam (RS 66.54 crore), Uttar Pradesh State Warehousing Corporation (RS 39.82 crore) and Uttar Pradesh State Road Transport Corporation (RS 10.67 crore).

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Last updated: 22 Nov 2024
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