No slowing down for CPSEs, investments up 16.16% in 2008-09

New
Delhi: The Central Public
Sector Enterprises invested Rs 528,951 crore in 2008-09, an increase of 16.16
per cent over last year despite the slowdown, a government statement said Tuesday.

The investment in CPSEs in 2007-08 stood at
Rs 4,55,367 crore.

The capital employed by the 246 CPSEs
increased to Rs 794,105 crore, 9.62 percent up from Rs 7,24,406 crore in the previous
year, the survey for 2008-09 conducted by the Department of Public Enterprises
said.

The survey further said while the profits
of the CPSEs increased to Rs 98,652 crore in 2008-09 (from Rs 91,571 crore in
the previous year), the loss too went up to Rs 14,424 crore from Rs 10,257
crore in 2007-08.

The net worth of all the CPSEs increased
12.91 per cent to Rs 5,88,217 crore in 2008-09.

Meanwhile, the contribution of the CPSEs to
the central exchequer by way of excise duty, customs, corporate tax, dividends
and other duties declined by 8.59 percent in the last fiscal to Rs 151,728
crore from Rs 1,65,994 crore in the previous year due to the slowdown.

The global financial crisis, which became
prominent in September 2008, also impacted
India and the government had to announce
stimulus to support the domestic industry.

After reaching a trough of 0.6 percent
during the second half of 2008-09, growth in the IIP revived to 7.7 percent during
April-November 2009-10.

The survey further said foreign exchange
earnings through exports increased 9.61 per cent in 2008-09 to Rs 74,184 crore while
the outflow on imports, primarily crude oil, also went up 16.46 percent to Rs
4,28,821 core.

The market capitaliation of 41 listed CPSEs
on March 31, 2009, was Rs 8,13,530 crore from Rs 11,20,752 crore same day previous
year.

PTI