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Compliance Financial Performance
Haryana

Report No. 1 of 2015 - Compliance, Financial and Performance Audit on Economic and Social Sectors (Public Sector Undertakings) of Government of Haryana

Date on which Report Tabled:
Wed 25 Mar, 2015
Date of sending the report to Government
Government Type
State
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Sector Finance,Transport & Infrastructure,Power & Energy,Industry and Commerce,Information and Communication,Agriculture and Rural Development,Social Welfare

Overview

This Report contains 12 paragraphs including two performance audits on 'Rajiv Gandhi Grameen Vidyutikaran Yojana' and 'Haryana State Warehousing Corporation1 involving a financial effect of Rs. 126.45 crore relating to avoidable expenditure, non compliance of rules, directives and procedures; non safeguarding of the financial interests etc. Some of the major findings are mentioned below:

The State of Haryana had 24 working PSUs (22 companies and two Statutory corporations) and seven non working companies which employed 35,577 employees. As on 31 March 2013, the investment (capital and long-term loans) in 31 PSUs was Rs. 35.778.36 crore. Out of the total investment in State PSUs, 99.61 percent was in working PSUs and the remaining 0.39 per cent in non-working PSUs. The total investment consisted of 23.89 per cent towards capital and 76.11 per cent in long-term loans. The equity has increased from Rs. 5,962.15 crore in 2008-09 to Rs. 8,546.45 crore in 2012-13. Power sector accounted for over 91.38 per cent of the total investment in 2012-13. The State Government contributed Rs. 10,519.62 crore towards equity, loans and grants/ subsidies in 13 PSUs dunng 2012-13.  

Out of 23 working PSUs for which the accounts were received up to September 2013, 15 PSUs earned profit of Rs. 292.35 crore and eight PSUs incurred losses of Rs. 10,120.57 crore. Out of 15 PSUs earning an aggregate profit of Rs. 292.35 crore, only four PSUs1 declared dividend of Rs. 6.60 crore.

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