RAIPUR,CG: In Chhattisgarh, the Power sector alone accounts for approximately 66.51 per cent of the total turnover of the PSUs during 2022-23.

Out of the 28 State PSUs, 26 were working PSUs (25 Companies and one Statutory Corporation) and two PSUs were inactive. Out of the 26 working PSUs, the turnover (₹42,172.73 crore) of 20 PSUs was 9.22 per cent of the GSDP (₹4,57,608.26 crore) of Chhattisgarh for the year 2022-23,, states the CAG audit report.

Chhattisgarh Forest Minister Kedar Kashyap tabled the report in the House during the monsoon session of state assembly.

As on 31 March 2023, the total investment in 28 State PSUs comprised 33.79 per cent of equity capital and 66.21 per cent of long-term loans. The long-term loans in 28 State PSUs consisted of ₹977.03 crore advanced by the Central and State Governments and ₹12,900.87 crore raised from other sources.

Annual budgetary assistance received by the PSUs increased from ₹8,507.74 crore in 2020-21 to ₹9,868.93 crore during the period 2022-23. Budgetary assistance in the form of loan was given to Chhattisgarh Mineral Development Corporation Limited (₹85.67 crore) for mineral exploration work and ₹42.93 crore was given to Chhattisgarh State Power Distribution Company Limited (CSPDCL. The major portion of subsidy/grants was given to CSPDCL (₹5,242.99 crore) for implementation of various schemes such as free supply of Mukhyamantri Shahri Vidyutikaran Yojana, Mukhyamantri Majra-tola Vidyutikaran Yojana, Half Bijli Bill Scheme, Energisation of Agriculture pumps and Chhattisgarh State Civil Supplies Corporation Limited (₹4,017.86 crore) to provide food grains at concessional rate to the public.

The profit earned by 10 PSUs out of 20 PSUs was 879.22 crore in 2022-23 as compared to nine PSUs which earned profit of 540.16 crore in 2020-21. The main reason for increase in profit was due to increase in profit of Chhattisgarh State Power Generation Company Limited from 196.63 crore (2020-21) to 570.38 crore (2021-22).

There were 7 PSUs that incurred losses as per their latest finalised accounts at the end of March 2023. The losses incurred by these PSUs increased to 1,143.10 crore from ₹433.14 crore in 2020-21.

As against the equity (paid up capital plus defaulted loans) of   2,972.81 crore of seven loss making PSUs, overall net accumulated losses reported by these 7 PSUs were 10,034.72 crore, resulting in depletion in net worth of 7 PSUs to (-) 7,061.91 crore as on 31 March 2023. The net worth of 5 PSUs out of 28 PSUs had been completely eroded by accumulated losses and their net worth was negative, says the report.