No slowing down for CPSEs, investments up 16.16% in 2008-09

The Central Public Sector Enterprises invested Rs 5,28,951 crore in 2008-09, an increase of 16.16 per cent over last year despite the slowdown, a government statement said today.

The investment in CPSEs in 2007-08 stood at Rs 4,55,367 crore.

The capital employed by the 246 CPSEs increased to Rs 7,94,105 crore, 9.62 per cent up from Rs 7,24,406 crore in the previous year, the survey for 2008-09 conducted by the Department of Public Enterprises said.

The survey further said while the profits of the CPSEs increased to Rs 98,652 crore in 2008-09 (from Rs 91,571 crore in the previous year), the loss too went up to Rs 14,424 crore from Rs 10,257 crore in 2007-08.

The net worth of all the CPSEs increased 12.91 per cent to Rs 5,88,217 crore in 2008-09.

Meanwhile, the contribution of the CPSEs to the central exchequer by way of excise duty, customs, corporate tax, dividends and other duties declined by 8.59 per cent in the last fiscal to Rs 1,51,728 crore from Rs 1,65,994 crore in the previous year due to the slowdown.

The global financial crisis, which became prominent in September 2008, also impacted India and the government had to announce stimulus to support the domestic industry.

After reaching a trough of 0.6 per cent during the second half of 2008-09, growth in the IIP revived to 7.7 per cent during April-November 2009-10.

The survey further said foreign exchange earnings through exports increased 9.61 per cent in 2008-09 to Rs 74,184 crore while the outflow on imports, primarily crude oil, also went up 16.46 per cent to Rs 4,28,821 core.

The market capitaliation of 41 listed CPSEs on March 31, 2009, was Rs 8,13,530 crore from Rs 11,20,752 crore same day previous year.