79 Central Public Sector Enterprises have incurred losses: Government

NEW DELHI: As many as 79 Central Public Sector Enterprises (CPSEs) have incurred losses and Rs 40,937 crore will be invested to revive 48 of these, the Government said today.

Finance Minister Arun Jaitley during Question Hour in Rajya Sabha said the total investment (equity + long term loan) made in 79 CPSEs was Rs 1.57 lakh crore.

He said four CPSEs cannot be revived and, hence, they would have to be winded up.

On the recommendations of the Board for Reconstruction of Public Sector Enterpises (BRPSE), the government/holding companies have "approved revival" of 48 CPSEs envisaging a total assistance of Rs 40,937 crore, he said.

Jaitley stressed the CPSEs need to be run more professionally as they do not enjoy monopoly now.

To another question regarding devolution of central taxes to states, the Finance Minister said consultations between the 14th Finance Commission, the Centre and states are underway.

The Commission is likely to submit its report this year. Jaitley assured the House that the Centre will accept the recommendations of the Commission.

To a question if there was window dressing of balance sheet by the UPA government, the Finance Minister said government follows a very "credible process" of accounting.

He said the current government stands by the figures as "I do not want to create confusion in market".

The Finance Minister said the Centre was concerned about the fiscal health of states.