In news-The Department of Public Enterprises (DPE), Ministry of Finance released the 60th annual Public Enterprises Survey 2019-20.
About PE Survey
- It assesses the performance of Central Public Sector Enterprises (CPSEs).
- PE Survey which is a 100% enumeration of the CPSE universe, captures essential statistical data for all CPSEs on various financial and physical parameters.
- PE Survey divides CPSEs into five sectors namely
- Mining & Exploration.
- Manufacturing, Processing & Generation, Services, and Enterprises Under Construction and further into 21 cognate groups.
- The Survey covers those CPSE’s wherein Government of India holds more than 50% equity.
- Subsidiaries of these companies, if registered in India, in which CPSE(s) has more than 50% equity stake are also categorised as CPSEs.
- As per the PE Survey 2019-20 as on 31st March, 2020 there are 256 operational CPSEs.
Key highlights the survey
The Highlights of the performance of Central Public Sector Enterprises (CPSEs), during 2019-20 are as under:
- Total Paid-up Capital in all CPSEs as on 31.3.2020 stood at Rs 3,10,737 crore.
- Total Financial Investment in all CPSEs was Rs 21,58,877 crore.
- Gross Revenue from Operations of 256 operating CPSEs during the Financial Year 2019-20 was Rs 24,61,712 crore.
- Net Worth of all CPSEs was Rs 12,35,706 crore as on March 31, 2020.
- Contribution of all CPSEs to Central Exchequer by way of excise duty, custom duty, GST, corporate tax, interest on Central Government loans, dividend, and other duties and taxes stood at Rs 3,76,425 crore in Financial Year 2019-20.
Central Public Sector Enterprises (CPSEs)
- The Department of Public Enterprises is the nodal department for all the Central Public Sector Enterprises (CPSEs) and formulates policy pertaining to CPSEs.
- It lays down, in particular, policy guidelines on performance improvement and evaluation, autonomy and financial delegation and personnel management in CPSEs.
- It furthermore collects and maintains information in the form of a Public Enterprises Survey on several areas in respect of CPSEs.
Categories of CPSEs
Central Public Sector Enterprises (CPSEs) are classified into Maharatna, Navratna and Miniratna status.
Criteria for grant of Maharatna status to CPSEs
The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.
- Having Navratna status
- Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
- An average annual turnover of more than Rs. 25,000 crore during the last 3 years
- An average annual net worth of more than Rs. 15,000 crore during the last 3 years
- An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
- Should have significant global presence/international operations.
Criteria for grant of Navratna status to CPSEs
The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status.
Criteria for grant of Miniratna status to CPSEs
- Miniratna Category-I status: – The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
- Miniratna Category-II status: – The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
- Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
- Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.