New Delhi, November 14 (IANS). Petroleum Minister Hardeep Singh Puri on Thursday said the net worth of Central Public Sector Enterprises (CPSEs) has increased by 82 percent to Rs 17.33 lakh crore by FY 2023, which was Rs 9.5 lakh crore nine years ago in FY 2014.
Addressing CII’s PSE Summit, the Minister said the contribution of CPSEs to the national exchequer through excise duties, taxes and dividends has more than doubled from Rs 2.20 lakh crore in FY2014 to Rs 2.20 lakh crore in FY2023. It has become Rs 4.58 lakh crore.
Puri further said that during this period, there has been a huge jump in the profits of CPSEs. This has increased to Rs 2.41 lakh crore in FY 2023, which was Rs 1.29 lakh crore in FY 2014. Apart from this, the market capitalization of all 81 listed PSE companies has increased by 225 percent during the review period.
The Minister praised the strong performance of public sector enterprises in the last decade and said that their contribution has been integral to India’s economic stability and progress.
“As we look to the future, the next few years will be critical in laying the foundation for India’s next leap forward,” he said.
The Union Minister outlined a vision for India’s energy sector, emphasizing three key principles, availability, affordability and sustainability.
As an example of India’s focus on sustainability, Puri pointed to significant progress in bioethanol blending, saying, “Ethanol blending has increased from 1.53 per cent in 2014 to 15 per cent in 2024. The government has now set a target of 1.5 per cent by 2025. The target of 20 per cent mix has been set, which is five years ahead of schedule.”
–IANS
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