BHUBANESWAR: Public sector companies made a lower contribution to the government exchequer by way of taxes and duties in 2017-18 compared to the preceding year. Public sector firms’ contribution, which includes excise duty, customs duty, Goods and Services Tax, income tax, corporate tax, dividend, fringe benefit tax and deferred tax, fell 2.98 per cent to Rs 3.5 lakh crore from Rs 3.6 lakh crore in 2016-17, according to a survey tabled in Parliament Thursday.
During the last fiscal, the dividend declared or paid by such firms stood at Rs 76,578 crore against Rs 78,129 crore in 2016-17, as per the Public Enterprises Survey 2017-18. “It has been observed that the return on net worth is highest in the mining and exploration sector (14.77 per cent) followed by manufacturing, processing and generation (14.34 per cent), services (5.04 per cent), while agriculture sector has shown negative (-39.3 per cent) return on net worth,” the survey stated.
The Central Public Sector Enterprises (CPSEs) employed 10.88 lakh people excluding casual and contractual workers in 2017-18 compared to 11.35 lakh in 2016-17, showing a fall of 4.14 per cent in employee strength, it said. However, the salary and wages of all CPSEs stood at Rs 1,57,621 crore in 2017-18 against Rs 1,40,956 crore in the previous year, exhibiting a growth of 11.82 per cent.
The total market capitalisation of 52 CPSEs traded on stock exchanges was Rs 15.22 lakh crore as on March 31, 2018, registering a marginal increase of 0.21 per cent from Rs 15.19 lakh crore in the previous year.
The expenditure under the mandatory Corporate Social Responsibility spending of the public sector companies stood at Rs 3,442.42 crore in 2017-18 against Rs 3,338.21 crore in the previous financial year, an increase of 3.12 per cent.
Employee count down
CPSEs employed 10.88 lakh people excluding casual and contractual workers in 2017-18 compared to 11.35 lakh in 2016-17, a fall of 4.14 per cent.