Niti Aayog panel recommended winding up 26 sick CPSEs: Minister

The committee on sick/loss making/non-performing CPSEs was constituted in March 2016

A Niti Aayog committee has recommended winding up of 26 loss making public sector enterprises due to their unsatisfactory performance, Parliament was informed on Friday.

The committee on sick/loss making/non-performing Central Public Sector Enterprises (CPSEs) was constituted in March 2016.

The committee noted that financial performance of 74 CPSEs has been unsatisfactory and a number of these have requested for and received periodic support from budgetary resources, Minister of State for Finance Arjun Ram Meghwal said in a written reply to Lok Sabha.

"Over the years, this has become a significant drain on limited resources of the government. The committee has made the recommendations of closure/winding up of 26 such CPSEs," Meghwal said.

On asked whether there were any schemes for rehabilitation of the employees of such undertakings, the minister said counselling, retraining and redeployment (CRR scheme) and skill development training is provided under the Voluntary Retirement Scheme/Voluntary Separation Scheme.

The purpose is to enable them to get redeployment or take up self-employment, Meghwal said.

The scheme has a provision for training of the dependent also in lieu of the VRS/VSS optees, he added.