Total profit of profit-making CPSEs increased by 37.53% and total loss of loss-making CPSEs decreased by 29.86% during FY 2020-21 over FY 2019-20

No Navaratna CPSEs report loss of jobs due to cost cutting efforts

As per information available, there are 255 operational Central Public Sector Enterprises (CPSEs) as on 31.03.2021 with a total turnover of ₹ 24,26,045 crore in 2020-21. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha.

Giving more details, the Minister stated that out of these, 177 CPSEs are profit making with total profit of ₹ 1,89,320 crore. The total profit of profit making CPSEs has increased by 37.53% and the total loss of loss making CPSEs has decreased by 29.86% during FY 2020-21 over FY 2019-20.

Based on the information provided by the Navratna CPSEs for FY 2020-21, the performance in terms of overall profit has shown improvement over the previous year in respect of most of the Navaratna CPSEs. None of the Navaratna CPSEs have reported loss of jobs due to cost cutting efforts.

Public sector financial performance shows improved profitability and reduced losses; no reported job losses from cost-cutting. Aggregate financial reporting for Central Public Sector Enterprises shows that of 255 operational CPSEs, 177 were profit-making with aggregate profit increasing by 37.53% and aggregate losses among loss-making CPSEs decreasing by 29.86% in the reported fiscal comparison; Navratna CPSEs reported overall profit improvement and stated that cost-cutting did not cause job losses.