Compliance Financial Performance
Uttar Pradesh

Report of the Comptroller and Auditor General of India for the year ended 31 March 2009 (Commercial) Government of Uttar Pradesh

Date on which Report Tabled:
Mon 15 Feb, 2010
Date of sending the report to Government
Government Type
State
Sector Taxes and Duties,Finance,Transport & Infrastructure,Power & Energy,Industry and Commerce

Overview

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 Uttar Pradesh had 82 working PSUs (75 companies and 7 Statutory corporations) and 43 non-working PSUs (all companies), which employed 1.38 lakh employees. The working PSUs registered a turnover of Rs. 31,480.07 crore for 2008-09 as per their latest finalised accounts. This turnover was equal to 7.86 per cent of the State GDP indicating a moderate role played by the State PSUs in the economy. However, the working PSUs incurred overall loss of Rs. 3,410.53 crore in 2008-09 and had accumulated losses of Rs.14,386.17 crore.

As on 31 March 2009, the investment (Capital and long term loans) in 125 PSUs was Rs. 52,915.82 crore. It grew by over 133.62 per cent from Rs. 22,650.56 crore in 2003-04 mainly because of increase in investment in power sector. Power Sector accounted for 87.14 per cent of the total investment in 2008-09. The Government contributed Rs. 3,594.14 crore towards equity and grants/subsidies during 2008-09. During the year 2008-09, out of 82 working PSUs, 30 PSUs earned profit of Rs. 538.41 crore and 26 PSUs incurred loss of Rs. 3,948.94 crore. Twenty six working PSUs, which were incorporated during 2006-07 (3), 2007-08 (1) and 2008-09 (22) had not submitted their first accounts.

The major contributors to profit were Uttar Pradesh Avas Evam Vikas Parishad (Rs 178.58 crore), Uttar Pradesh Rajkiya Nirman Nigam Limited (Rs 80.41 crore), Uttar Pradesh State Industrial Development Corporation Limited (Rs 79.03 crore), Uttar Pradesh State Road Transport Corporation (Rs 40.71 crore) and Uttar Pradesh State Warehousing Corporation (Rs 40.15 crore). The heavy losses were incurred by Dakshinanchal Vidyut Vitaran Nigam Limited (Rs 892.20 crore), Paschimanchal Vidyut Vitaran Nigam Limited (Rs 621.82 crore), Purvanchal Vidyut Vitran Nigam Limited (Rs 606.75 crore), Uttar Pradesh Power Corporation Limited (Rs 505.42 crore), Uttar Pradesh Financial Corporation (Rs 115.01 crore), Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (Rs 77.10 crore) and Uttar Pradesh Rajya Chini Evam Ganna Vikas Nigam Limited (Rs 57.92 crore).

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