Gujarat PSU lost Rs 4,216 cr in three years: CAG

Discussion in 'Economy & Infrastructure' started by pmaitra, Mar 29, 2012.

  1. pmaitra

    pmaitra Moderator Moderator

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    Gujarat PSU lost Rs 4,216 cr in three years: CAG

    Ajay Umat, TNN | Mar 29, 2012, 03.45AM IST
    Source: Times of India


    GANDHINAGAR: The state government has always tomtommed its efforts in turning sick public sector units (PSU) into profitable ventures. A review of three years of CAG reports paints a different picture. During this period, state PSUs incurred losses worth Rs 4216.53 crore and infructuous investment of Rs 300.98 crore, which were controllable with better management.

    The aggregate accumulated profits of all 60 PSUs stood at Rs 169.34 crore as per their latest finalized accounts as on March 31, 2011.

    List of loss-making companies include Gujarat State Road Transport Corporation (Rs 159.74 crore), Gujarat State Financial Corporation (Rs 156.91 crore) and Alcock Ashdown Limited (Rs 131.44 crore).

    The CAG report also says four power distribution companies or DISCOMs in Gujarat failed to utilize central funds worth Rs 135.33 crore till March 2011. It further says the increase in the distribution capacity during 2006-11 could not match the pace of growth in consumer demand in all the DISCOMs as a whole as well as in Dakshin Gujarat Vij Company Limited (DGVCL) and Paschim Gujarat Vij Company Limited ( PGVCL).

    Improper management of feeders in three divisions caused losses of Rs 42.08 crore. The yet-to-be-tabled CAG report says state-owned ship-building company Alcock Ashdown (Gujarat) Limited is exposed to probable losses worth Rs 96.42 crore by imprudently accepting a contract. Gujarat State Electricity Corporation Limited incurred avoidable expenditure of Rs 9.95 crore due to imprudent selection of a firm and noncommissioning of ash collection system.

    Times View

    Chief minister Narendra Modi has a relatively clean image when it comes to political corruption. It is another matter that his government has cleverly avoided or actively resisted the appointment of a Lokayukta for the last over seven years. In such a situation, the Comptroller and Auditor General's reports are the only way to pin-point financial irregularities. It has been an unhealthy practice of the present state government to submit the CAG report only on the last day of the state assembly. A clean government should have nothing to hide. These deliberate attempts to avoid a free debate on the subject only evokes suspicion.

    Link: Gujarat PSU lost Rs 4,216 cr in three years: CAG - The Times of India
     
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  3. VIP

    VIP Ultra Nationalist Senior Member

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    Govt.'s companies are always loss making here.Govt. can't handle every company properly + the corruption done by govt. employees are well known.
I don't understand why only Gujarat's report is highlighted ?? Infact, most of the states would have same situation I guess.
Highlight CAG reports of Maharashtra, Delhi, TN, WB, Karnataka, Rajsthan.You will find loss, loss and loss.
"Jis desh ka Raja Vepari, uss desh ki Praja Bhikhari."
Kahavat is anti-Left but very true....
     
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  4. GUNS-N- ROSES

    GUNS-N- ROSES Regular Member

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    i dont think many PSUs can survive in this highly competetive world. so Gujrat is no different. but one remark is important.

    CAG audit is for benefit of the state and central Govt. by presenting CAG repot on last day isnt Mr Modi running away from health public debate.
     
  5. VIP

    VIP Ultra Nationalist Senior Member

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    Healthy public debate ?? Congis make a lot of ruckus in Assembly.Everyday these morons come up with new baseless allegations, use very low level language for Modi.Foul language is the only thing come out from their mouths.Modi never argue with these morons.These people don't even know what a healthy debate is.Shouting, alleging, making nuisance are their habit.They don't even know basic things and gujju media was already bought by congress a long ago.So don't expect anything from them.
     
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  6. sehwag1830

    sehwag1830 Tihar Jail Banned

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    Why did TOI give their view on the Shee Modi and Maha Gujarat. I have never seen them give thier views when it came to all the Congress initiated scams, nor do they give their views on other state matters. It has now become very clear that TOI, NDTV etc. ar being paid by the UPA to tarnish the good image of Shree Modi and the NDA. Its so sad that even after so many centuries we still continue to live under a defacto Mornarchy and Italian occupation of the Parliament. Its sad to be an Indian now a days.
     
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  7. Poseidon

    Poseidon Regular Member

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    PSU's making loss in so called Shining Gujarat!!
     
  8. sehwag1830

    sehwag1830 Tihar Jail Banned

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    PSU made loss in so called shining India too.
     
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  9. Poseidon

    Poseidon Regular Member

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    But don't you guys say that Modijiiiiiiiiiiiiiiiiiiiiiiiiiii will be some sort of messiah if PM and will make India America in less than 24 hours.:lol:
     
  10. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    :facepalm: Show how ignorant and brainwashed you are. All the states have PSUs running at a loss. The matter is how it is being handled by the State. In case of Gujarat,Modi tries to help by encouraging new industries and tries to overcome the debt produced by the PSUs with the revenue generated by other industries. Some industries ave to be run even if run on a loss. Ex. Postal department(not saying it is a loss making one, but take for instance) has to run no matter how mush loss it incurs.

    And the state of the PSUs is no measure of a state's progress. You do know that Gujarat is growing 50% faster than rest of India right?:frusty:
     
  11. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    No we are saying Modi will do a Much much much much much much better job than any of the CONs as a PM. Who do you think is better for PM then ? Raul Vince:rotflmao::rotflmao:
     
  12. Poseidon

    Poseidon Regular Member

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    ^Nope I support Military rule not Modi rule.
     
  13. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Exactly why we hate the CONgi Chamchas, selectively blind to the ills of the CON-gr-ASS and and selectively and intentionally ignorant on the Successes of NDA. Morons
     
  14. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    :rotflmao:.. With all the corruption going on in the Army you must have some serious problems to suggest the Military rule. Any way who do you recommend to be the Leader of the country in your proposed military rule?- Gen VK singh??:rotflmao:

    And they we will turn us into Bigger Pukistan:frusty:, excellent suggestion:thumb:
     
  15. Galaxy

    Galaxy Elite Member Elite Member

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    Gujarat Assembly election is in year end. Expect many such news. As far as PSU, Most of them will always in loss irrespective of state. As far as Pvt company, Most of them shifting or already shifted to Gujarat which will translate healthy growth of the state, more employment, revenue for state and better standard of life!!
     
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  16. Poseidon

    Poseidon Regular Member

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    But still behind Maharashtra:
    Gujarat third fastest growing state, lags behind Maharashtra - Indian Express
    What Gujjus behind Marathi Manoss?
     
  17. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Read that article fully:frusty: It says Guj is above national average on all parameters and in Economic front it is way ahead. Also Guj's Growth is 10.31% against the Indian average of 7%- nuff said.

    Gujarat leads in growth, Southern states need to catch up: McKinsey report - Economic Times

    Also that growth is for only one Fiscal right- Look for the Period of 2006-2010.
     
  18. Poseidon

    Poseidon Regular Member

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    So what but did you read that Maharashtra is doing better than Gujarat in economic terms and Gujarat is lagging behind so many others states i infant mortality,healthcare.
    So nothing special about Modi.

    Also look at this:
    Sex ratio dips to a new low in ‘vibrant’ Gujarat - Indian Express
    In surat 788 girls per 1000 boys,this worse than Pukistan!
     
  19. Mad Indian

    Mad Indian Proud Bigot Veteran Member Senior Member

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    Gujarat is still among the top states in India regarding HDI if not the best. And no, Modi has done a better job in the growth of Gujrat, than most idiots have done. And he is a futuristic leader with great vision unlike the short sighted idiots we have in other parts of the country.

    And No, he can magically "GEEM BOOM BAAH" the state residents into abandoning the society's ills like discrimination of the girl child. And no He cant geem boom baah the Human development. It is a slow process and no one is claiming he will turn Guj into US in a few hours. Only an idiot will say that is possible and will cry that it is not achieved yet:taunt:

    And next time , the paid media should blame the death of a Girl for love failure in Gujarat on Modi:taunt1::rotflmao:, (probably you too if you think he is responsible for every tom, dick and harry's mistakes)
     
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  20. Poseidon

    Poseidon Regular Member

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    :rofl:
    Seriously mate.Where did you get that info?
    Sanghidiotparivar.org??
    Do they brainwash people so much?

    HDI in India rises by 21%: Kerala leads, Gujarat far behind | Firstpost
     
    Last edited: Mar 29, 2012
  21. VIP

    VIP Ultra Nationalist Senior Member

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Get your facts straight bud.Just consider before 10 years' data and compare now.You need not to compare different states with each other.You need to compare states with themselves.By your posts I really assume you actually lack the basic knowledge....
     

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