Painful story of State PSUs

Overview of Government companies and statutory corporation CAG 2008 : As on 31st March 2008, the state had ten Government companies and one Statutory corporation. Total investment in ten working PSUs was 488.02 crore. Out of ten companies and one Statutory corporation, none had finalized their accounts for 2007-2008. According to the latest financial accounts, two govt. companies had earned an aggregate profit of Rs. 11.71 crore. Of the seven loss making Government companies, three had accumulated losses of Rs.77.42 crore which exceeded their aggregate paid up capital by 12.50 crore. The only Statutory corporation TRTC had accumulated loss of Rs.133.20 crore as on March 31st 2003 which exceeded its aggregate paid up capital by Rs.40.14 crore.

School Education : Extra liability due to deviation

Non-adherence to sanction, non-submission of required information to Govt. of India in time and entering into a contract without approval resulted in extra burden on State Exchequer due to lapse of Central assistance of Rs. 1.25 crore apart from committed liability of Rs.4.29 crore with uncertainty on receipt of further funds for discharging the liability. P/91(2008)

Health & family planning

Inadequate planning led to non-utilization of central assistance and failure to establish the Government Ayurvedic drugs manufacturing unit and strengthening of Psychiatry Department at Agartala Govt. Medical College. P/92(2008)