'PSUs FY10 contribution to exchequer at Rs 1.52 lakh cr'

Steel minister Virbhadra Singh today said the contribution of the Central PSUs to the exchequer was to the tune of Rs 1,51,728 crore during 2009-10.

"PSUs' contribution can be gauged by the fact that in addition to the dividends, their contribution by way of excise duty, customs, corporate tax and interest of loans to the exchequer last fiscal was to the tune of Rs 1,51,728 crore," he said in a statement.

In fact, total forex earned by these enterprises is Rs 74,000 crore, the minister said at the PSU awards function organised by the Dalal Street Investment Journal.

Planning Commission member Arun Maira said, "We have to build our type of economic system in pace with the global economy and PSUs are an important part of this system."

Eighteen PSUs, including ONGC, SAIL BSNL, GAIL, OIL and PEC--have received the award. The awards were given on the basis of the overall performance of these firms and took into account factors like net sales, net profit, operating profit and the size of their balance sheets.

SAIL Chairman and Managing Director S K Roongta, who received the Life Time Achievement Award, said, the award is a tribute to the resilience of SAIL, which has improved its performance consistently, even in the face of the global meltdown.