NITI Aayog is analyzing loss-making PSUs

The Dollar Business Bureau

The Parliament, on Friday, was informed that the think tank of the government, NITI Aayog, is examining the sick and loss making Public Sector Units of India.

The country has over 70 loss-making Central Public Sector Enterprises, reveals Public Enterprises Survey FY15. The sick, loss-making CPSEs include BSNL, MTNL, MRPL and Air India, said Arjun Ram Meghwal, Minister of State for Finance, in a response in Lok Sabha.

NITI Aayog, which is chaired by Prime Minister Narendra Modi, is working on an analysis of the sick, loss making PSUs in consultation with the concerned ministries, he added.

Meghwal further stated that the concerned ministry keeps an eye on the sick CPSEs and basing on the performance, identifies the ones whose functioning is under their control and frames redressal measures.

The concerned authorities formulate revival plans of such loss-making CPSEs. Only after the approval of the competent authority, the plan to revive is implemented, said Meghwal.

Sources claim that the NITI Aayog has already submitted two separate lists of sick and loss-making PSUs to the Prime Minister’s office. The first list comprises the companies that can be shut down and other list suggests the ones which can be privatized for betterment.