No Navaratna CPSEs report loss of jobs due to cost cutting efforts
As per information available, there are 255 operational Central Public Sector Enterprises (CPSEs) as on 31.03.2021 with a total turnover of Rs.24,26,045 crore in 2020-21. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha today.
Giving more details, the Minister stated that out of these, 177 CPSEs are profit making with total profit of Rs.1,89,320 crore. The total profit of profit making CPSEs has increased by 37.53% and the total loss of loss making CPSEs has decreased by 29.86% during FY 2020-21 over FY 2019-20.
Based on the information provided by the Navratna CPSEs for FY 2020-21, the performance in terms of overall profit has shown improvement over the previous year in respect of most of the Navaratna CPSEs. None of the Navaratna CPSEs have reported loss of jobs due to cost cutting efforts.