Indian Economy: News and Discussion

sorcerer

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Defence services, organisations purchase from MSMEs on GeM up 72%: Defence Secretary Ajay Kumar
 

Cruise missile

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Gov owned enterprises are a lost cause their structure don't allow reform and privatization and Corporatization brings protests.
What would u do if u were in Gov's place?
Age khai piche kua.
These PSU are money eating shit hole.
 

Bhumihar

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The Department of Public Enterprises (DPE) brings out a Public Enterprises Survey every year. This is a consolidated report on the performance of all CPSEs, providing an overview of their annual financial and operational achievements. In the last survey that came out in December 2018, Indian Oil, ONGC and NTPC limited were ranked first, second and third, respectively, amongst the top 10 profit-making PSU, while BSNL, Air India and MTNL were the among the topmost loss-making PSUs as per the survey. As per the Public Enterprises Survey 2017-18, there were 184 profit-making PSUs with a total profit of Rs 1,59,635 crore.
Total Profit from profitable PSUs was 20 billion

Here are Top 10 Profit making PSUs

  1. Indian Oil Corporation Limited (IOCL), a Maharatna PSU under the Ministry of Petroleum and Natural Gas, was on the top in the list of profit-making PSUs with a total profit Rs 21,346 crores, which was 13.37 percent of the total profit earned by PSUs in FY2017-18.
  2. Oil & Natural Gas Corporation (ONGC) Limited, a Maharatna PSU under the Ministry of Petroleum and Natural Gas, was on the second position in the list of top 10 profit-making PSUs with a total profit of Rs 19,945 crores, which was 12.49 percent of the total profit earned by PSUs in FY2017-18.
  3. NTPC Limited, a Maharatna PSU under the Ministry of Power, was on the third place in top 10 profit-making PSUs, contributing Rs 10,343 crores in total profit, which was 6.48 percent of the total profit earned by PSUs in FY2017-18.
  4. Coal India Limited (CIL), a Maharatna PSU under the Ministry of Coal, was on the fourth place in the list of top 10 profit-making PSUs with Rs 9,293 crores in the total profit, which was 5.82 percent of the total profit earned by PSUs in FY2017-18.
  5. PowerGrid Corporation Limited (PGCIL), which was awarded Maharatna status recently by DPE, was on the fifth position in the list of top 10 profit-making PSUs with a profit of Rs 8,239 crores, which was 5.16 percent of the total profit earned by PSUs in FY2017-18.
  6. Bharat Petroleum Corporation Limited (BPCL), a Maharatna PSU under the Ministry of Petroleum and Naural Gas, was on the sixth place, with a profit of Rs 7,919 crores, which was 4.96 percent of the total profit earned by PSUs in FY2017-18.
  7. Hindustan Petroleum Corporation Limited (HPCL), which was also awarded Maharatna status recently by DPE, was on the seventh place in the list of top 10 profit-making PSUs, with a profit of Rs 6,357 crores, which was 3.98 percent of the total profit earned by PSUs in FY2017-18.
  8. Power Finance Corporation Limited (PFC), a Navratna PSU under the Ministry of Power, which was added to this list for the first time, was on the eighth place in the list of top 10 profit-making PSUs with a profit of Rs 5,855 crores, which was 3.67 percent of the total profit earned by PSUs in FY2017-18.
  9. Mahanandi Coalfields Limited (MCL), a Miniratna PSU under the Ministry of Coal, was on the ninth place in the list with a contribution of Rs 4,761 crore, which was the 2.98 percent of the total profit earned by the PSUs in FY2017-18.
  10. Rural Electrification Corporation Limited (REC Limited), a PSU under the Ministry of Power, which is acquired by PFC this year, was on the 10th place in the list, with a profit of 4,647 crores, which was 91 percent of the total profit earned by the PSUs in FY2017-18.

Here are top 10 loss making PSUs


  1. Bharat Sanchar Nigam Limited (BSNL), a Miniratna PSU under the Ministry of Communication & IT which was recently taken up for revival, was on the top of the list of top 10 loss-making PSUs with a total loss of Rs 7,993 crores, which was 25.57 percent of the total loss of PSUs in FY2017-18.
  2. Air India Limited, which is slated for disinvestment, was on the second position in this list with a total loss of Rs 5,338 crores, which was 17.07 percent of the total loss of PSUs in FY2017-18.
  3. Mahanagar Telephone Nigam Limited (MTNL), a Navratna PSU under the Ministry of Communication & IT which will now be merged with BSNL, was on the third position in the list of top 10 loss-making PSUs with a total loss of Rs 2,973 crores, which was 9.51 percent of the total loss of PSUs in FY2017-18.
  4. Hindustan Photo Films Manufacturing Company Limited (HPF), a Miniratna PSU under the Department of Heavy Industry, was on the fourth position in the list with a loss of Rs 2,917 crores, which was 9.33 percent of the total loss of PSUs in FY2017-18.
  5. Western Coalfields Limited (WCL), a Miniratna PSU under the Ministry of Coal, was on the fifth position in the list of top 10 loss-making PSUs with a loss of Rs 1,757 crores, which was 5.62 percent of the total loss of PSUs in FY2017-18.
  6. Bharat Coking Coal Limited (BCCL), a Miniratna PSU under the Ministry of Coal, was on the sixth position in the list of top 10 loss-making PSUs with a loss of Rs 1,391 crores, which was 4.45 percent of the total loss of PSUs in FY2017-18.
  7. Rashtriya Ispat Nigam Limited (RINL-VSP), a Navratna PSU under the Ministry of Steel, was on the seventh position in the list of top 10 loss-making PSUs with a loss of Rs 1,369 crores, which was 4.38 percent of the total loss.
  8. India Infrastructure Finance Company Limited (IIFCL), a PSU under the Ministry of Finance, was on the eighth position in the list, with an overall loss of Rs 1,155 crores, which was 3.69 percent of the total loss of PSUs in FY2017-18.
  9. Eastern Coalfields Limited (ECL), the third coal PSU which was on the ninth position on the list with a loss of Rs 931 crore, which was 2.98 percent of the total loss of PSUs in FY2017-18.
  10. The State Trading Corporation of India Limited (STC Limited), was on the bottom of the list of top 10 loss-making PSUs with an overall loss of Rs 657 crore, which was 2.10 percent of the total loss of PSUs in FY2017-18
In the future current profit making PSUs may not be able to rake as much profit due to changing dynamic of business, PSUs aren't know for their dynamic approach which is the most important thing in future business.
 

ajay7322

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Gov owned enterprises are a lost cause their structure don't allow reform and privatization and Corporatization brings protests.
What would u do if u were in Gov's place?
Age khai piche kua.
A government gets five year stop hiring in first year and reduce retirement age with that start shutting down departments slowly so not many notice even if they do it will be a low key and start evaluating employee performance day by day and keep reducing salary of low performing ones and then after five cuts tell them their retirement benefits will be cut off if they don't mend their way, if they protest tell the people we are just telling them to work properly and make this whole evaluating digital or outsource to some IT company whose name should be kept confidential and then stop outside funding gradually from 2nd or 3rd year.
 

Bhumihar

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I have solution to Afsargiri that goes on, might be retarded but here's my opinion.
Gov should allow lateral entry of Academia from Top Colleges like IIT, IIM, IISC, IIMC NIT, Gov colleges, Top Private Colleges.
UPSC seems to conduct mostly a common exam for all of its diverse field. Many students may not have the leaning nor interest for a certain field but they have to lap it up cause "Sarkari naukri kon chodgea". They are given basic management and organizational training and for sectors like finance special schools like National Institute of Accounting. Officers are expected to pickup experience while they are on the service and under the guidance of their superiors, but by the time they gain necessary skills they are at age of retirement.
Solution to this why not scrap the UPSC and make the recruitment process more diverse and hire people who have experience working in the sector. Exams will still be conducted and anyone with the necessary degree and experience can sit in the exam be it employees of financial institution, college academia etc.

Gov relies on universities for research anyway why not make way for these people.
 

Cruise missile

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Total Profit from profitable PSUs was 20 billion

Here are Top 10 Profit making PSUs


Here are top 10 loss making PSUs




In the future current profit making PSUs may not be able to rake as much profit due to changing dynamic of business, PSUs aren't know for their dynamic approach which is the most important thing in future business.
It's incorrect some PSU such as BHEL are diversifying business.
 

sauntheninja

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I have solution to Afsargiri that goes on, might be retarded but here's my opinion.
Gov should allow lateral entry of Academia from Top Colleges like IIT, IIM, IISC, IIMC NIT, Gov colleges, Top Private Colleges.
UPSC seems to conduct mostly a common exam for all of its diverse field. Many students may not have the leaning nor interest for a certain field but they have to lap it up cause "Sarkari naukri kon chodgea". They are given basic management and organizational training and for sectors like finance special schools like National Institute of Accounting. Officers are expected to pickup experience while they are on the service and under the guidance of their superiors, but by the time they gain necessary skills they are at age of retirement.
Solution to this why not scrap the UPSC and make the recruitment process more diverse and hire people who have experience working in the sector. Exams will still be conducted and anyone with the necessary degree and experience can sit in the exam be it employees of financial institution, college academia etc.

Gov relies on universities for research anyway why not make way for these people.
Good Luck convincing people to scrap such a important exam specially for people in North India where because of lack of economic opportunities lakhs of students sit for the exam in hope for a sarkaari naukri
 

Bhumihar

Cheeni KLPDhokebaaz
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Good Luck convincing people to scrap such a important exam specially for people in North India where because of lack of economic opportunities lakhs of students sit for the exam in hope for a sarkaari naukri
How many get jobs there anyway?
Average 800 are selected every year and lakhs of studnet waste their precious time and money for things that they don't have interest in.
 

Haldilal

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Total Profit from profitable PSUs was 20 billion

Here are Top 10 Profit making PSUs


Here are top 10 loss making PSUs




In the future current profit making PSUs may not be able to rake as much profit due to changing dynamic of business, PSUs aren't know for their dynamic approach which is the most important thing in future business.
Ya'll Nibbiars REC is now the Subsidiary of the PFC.
 

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