Manufacturing Psus Fall Short Of Growth Target
Manufacturing enterprises under the department of heavy industries have fallen short of production growth targets and have registered a meagre 2.61 per cent growth during the first 10 months of the current fiscal.
The cumulative production of manufacturing public sector units during the April 1997-January 1998 period has been valued at Rs 7,530.52 crore (up 2.61 per cent) as against Rs 7,300.09 crore in the corresponding period of the previous year, latest official figures released here yesterday indicated.
This was, however, 14.58 per cent below the targeted Rs 8,816.06 crore, an official statement said. The cumulative turnover of consultancy and contracting enterprises under the department during the first 10 months was Rs 342.39 crore 11.28 per cent below the target of Rs 385.92 crore. These manufacturing PSUs registered a seven per cent growth in production in January 1998, falling short of the target by 10.03 per cent.
The aggregate value of production of manufacturing PSUs, holding companies and subsidiaries grew by 7.62 per cent in January 1998 to attain a turnover of Rs 1,017.45 crore as against Rs 931.22 crore achieved in January 1997.
This was, however, 89.97 per cent of the target of Rs 1180.89 crore, the statement said. Consultancy/ contracting enterprises under the department achieved a turnover of Rs 44.97 crore during the month, which was 83.09 per cent of the targeted Rs 54.12 crore.
Two public sector units Hindustan Newsprint Ltd and Hindustan Salt Ltd exceeded their target by 150.94 per cent and 170.59 per cent respectively.
Other PSUs that exceeded targeted production and turnover figures include Bhel (117.80 per cent), Bharat Brakes and Valves (113.19), Mining and Allied Machinery Corporation (100 per cent), Scooters India (111.35 per cent), Hindustan Paper Corporation (121.07) and BBJ Construction Co (127.43 per cent). PSUs like Bhel, Bharat Wagon and Engg, Mining and Allied Machinery Corporation, National Bicycle Corporation of India, Scooters India and Hindustan Newsprint were able to surpass their targeted turnover, the statement added.