Cash pile of major PSUs at Rs 1.62 lakh cr

Cash pile of major PSUs at Rs 1.62 lakh cr

Coal India had Rs 43,776 cr,ONGC Rs 22,450 cr,NMDC Rs 17,230 cr and NTPC Rs 16,185 cr.

India’s 17 major PSUs (public sector undertakings) including Coal India,ONGC,NMDC and OIL had over Rs 1.62 lakh crore in cash reserves during 2012-13,Parliament was informed today.

Among these central public sector enterprises (CPSEs),Coal India Ltd (CIL) had the maximum cash and bank balance at Rs 43,776 crore,followed by ONGC (Rs 22,450 crore),NMDC (Rs 17,230 crore) and NTPC (Rs 16,185 crore).

The 17 major CPSEs had a cash and bank balance of Rs 1,62,338 crore,said Minister of State for Finance Namo Narain Meena in written reply in Lok Sabha.

Cash and bank balance of OIL was Rs 11,770 crore while that of SAIL was Rs 13,207 crore.

Meena said CPSEs use their funds for commercial purposes including payment of dividend and tax,discharge of liabilities,working capital,capital expenditure and expansion,among other things.