• Privacy Policy
  • About Us
  • Contact Us
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
  • Home
  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
No Result
View All Result
Cartographeum
No Result
View All Result

Sale of PSU to other PSU not disinvestment, observes CAG

Juliet Woodard by Juliet Woodard
September 26, 2020
Home Business
Share on FacebookShare on Twitter

The strategic sale of four public sector units to other public sector entities in 2018-19 by the Central government has been sharply criticised by the Comptroller and Auditor General (CAG) of India in an audit, tabled in Parliament. “Such disinvestments only resulted in transfer of resources already with the public sector to the government and did not lead to any change in the stake of the public sector / government in the disinvested PSU,” the CAG noted, indicating its displeasure at such transactions.It may be recalled that the Centre had earlier sold oil major HPCL to another PSU ONGC and resorted to similar transactions in order to meet disinvestment targets in recent years. In 2018-19, the government raised ₹72,620 crore from disinvestment, which included the strategic sales of the Rural Electrification Corporation, Dredging Corporation(DCI), HSCC (India) and National Projects Construction Corporation. While REC was sold to Power Finance Corporation, DCI was sold to a consortium of Port Trusts.The CAG also criticised the Centre’s claim as disinvestment receipts of almost ₹12,500 crore from the sale of shares by the Specified Undertaking of the Unit Trust of India (SUUTI), an entity created to deal with the erstwhile UTI’s assets and liabilities.“Neither SUUTI nor its assets, liabilities are depicted in the Union Government Finance Accounts,” the CAG noted, adding receipts from it were wrongly booked as capital receipts.

A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath

Tags: CAGPSU stake sale
Juliet Woodard

Juliet Woodard

Next Post
Realme UI 2.0 Early Access Roadmap Announced, 7 Phones to Get It in 2020

Realme UI 2.0 Early Access Roadmap Announced, 7 Phones to Get It in 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

NASA Scientists

NASA Scientists ‘Surprised’ After Finding ‘Unexpected’ Molecule in Titan’s Atmosphere

October 28, 2020
IT services will continue to be significant part of India’s job environment: TCS CEO

IT services will continue to be significant part of India’s job environment: TCS CEO

September 6, 2020

Trending.

Understanding Emergency Rental Assistance For Landlords And Tenants

Understanding Emergency Rental Assistance For Landlords And Tenants

January 27, 2021
Webinar on weather and its impact on business on November 19

Webinar on weather and its impact on business on November 19

November 16, 2020
NPPA caps price of liquid medical oxygen, medical oxygen cylinders

NPPA caps price of liquid medical oxygen, medical oxygen cylinders

September 26, 2020
Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

Rock Legend Gene Simmons Kisses His California Estate And High Taxes Goodbye

November 1, 2020
WeWork May Use A SPAC To Finally Go Public, Report Says

WeWork May Use A SPAC To Finally Go Public, Report Says

January 28, 2021

Cartographeum brings you the latest information about Tech,Real Estate & Business.

Follow Us

Categories

  • Business
  • Computers
  • Gear
  • Real Estate
  • Review
  • Technology
  • Uncategorized

Tags

Amazon Apple Watch 2 Bombay stock exchange BSE Business Buying Guides china closing trade coronavirus Covid COVID-19 currency dollar rate economy Finance Ministry foreign exchange forex gold india indian economy Indian stock market Industry iOS 10 lockdown luxury homes market and exchange markets nifty Nirmala Sitharaman NSE oil pandemic Playstation 4 Pro rbi real estate Reserve Bank of India rupee rupee rate Rupee value rupee vs dollar sensex Sillicon Valley stock exchange Stocks USD

Recent News

Can Mortgage Lenders Coexist With Green Energy PACE Liens?

Can Mortgage Lenders Coexist With Green Energy PACE Liens?

February 27, 2021
What If A Property Under Contract Burns Down?

What If A Property Under Contract Burns Down?

February 27, 2021
  • Privacy Policy
  • About Us
  • Contact Us

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Review
  • Computers
  • Gear

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.