As per information available with Department of Public Enterprises (DPE), there are 256 operational Central Public Sector Enterprises (CPSEs) as on 31.03.2020 with a total annual turnover of ₹ 24, 61,712 crore. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today.

Out of these, 171 CPSEs are profit making with a profit of ₹ 1,38,112 crore, the Minister stated.

Based on the information provided by the Navaratna CPSEs for FY 2020-21, the Minister stated that the performance in terms of Profit after Tax has shown improvement over the previous year in respect of most of the Navaratna CPSEs.

On reining in the expenditure, the Minister stated that as per information furnished by the Navaratna CPSEs a number of them are relying on use of virtual mode/ IT tools/services for reducing cost in recruitment process.

There is no reported reduction of workforce as cost cutting measures, the Minister added.

Public sector enterprise performance: majority profitable and adopting virtual recruitment to reduce costs without workforce reduction. 256 operational Central Public Sector Enterprises reported aggregate turnover of 24,61,712 crore as of 31.03.2020 with 171 CPSEs profit-making and collective Profit after Tax figures disclosed; Navratna CPSEs showed improved Profit after Tax in most cases for FY 2020-21, many adopting virtual recruitment and IT tools to contain costs, and there is no reported workforce reduction as a cost-cutting measure.