Compliance Financial Performance

Report of 2009- Report of Comptroller and Auditor General of India (Commercial) for the year ended 31 March 2009, Goverment of Bihar

Date on which Report Tabled:
Fri 23 Jul, 2010
Date of sending the report to Government:
Government Type:
Sector Transport & Infrastructure,Power & Energy,Social Welfare


Audit of Government companies is governed by Section 619 of the Companies Act, 1956. The accounts of Government companies are audited by Statutory Auditors appointed by CAG. These accounts are also subject to supplementary audit conducted by CAG. Audit of Statutory corporations is governed by their respective legislations. As on 31 March 2009, the State of Bihar had 23 working PSUs (19 Companies and four Statutory corporations) and 40 nonworking PSUs (all companies), which employed 0.21 lakh employees. The State PSUs registered a turnover of Rs. 2056.89 crore for 2008-09 as per their latest finalised accounts.

This turnover was equal to 1.56 per cent of State GDP indicating an insignificant role played by State PSUs in the economy. The PSUs had accumulated loss of Rs. 3593.15 crore as per their latest finalised accounts as of 30 September 2009.

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