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Compliance Financial Performance

Bihar

Report No.4 - Report of the Comptroller and Auditor General of India (Commercial) for the year ended 31 March 2010,Government of Bihar

Date on which Report Tabled:

Wed 20 Jul, 2011

Date of sending the report to Government

Government Type

State

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Sector Finance,Transport & Infrastructure,Power & Energy,Information and Communication,Social Welfare

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 of India. These accounts are also subject to supplementary audit conducted by CAG of India. Audit of Statutory corporations is governed by their respective legislations.

As on 31 March 2010, the State of Bihar had 25 working PSUs (21 Companies and four Statutory corporations) and 40 non working PSUs (all companies),which employed 0.22 lakh employees. The State working PSUs registered a turnover of Rs. 2508.83 crore for 2009-10 as per their latest finalised accounts. This turnover was equal to 1.62 per cent of State GDP indicating an insignificant role played by State PSUs in the economy. The PSUs had accumulated loss off Rs. 4617.88 crore as per their latest finalised accounts as of 30 September 2010.

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Report No. 4 Commercial - Full Report
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