Survey pitches for centralized agency to check NPAs

CEA Dr. Arvind Subramanian

IN A bid to check the growing number of NPAs of PSU banks, the survey suggests the setting up of a centralised Public Sector Asset Rehabilitation Agency (PARA) that could take charge of the largest, most difficult cases, and make politically tough decisions to reduce debt.
The survey says, “The country has been trying to solve its ‘Twin Balance Sheet’ (TBS) problem – overleveraged companies and bad-loan-encumbered banks. So far, there has been limited success. The problem has consequently continued to fester: Non-Performing Assets (NPAs) of the banking...

Economic Survey highlights difficulties in PSU privatisation

THE Economic Survey 2016-17 presented in Parliament on January 31 by Finance Minister Arun Jaitley said that there is still a commitment to make the "perennially unprofitable public sector airline" a 'world class' entity. Citing civil aviation as an example, the survey said privatisation of PSUs remains difficult even for PSUs with a strong case to be privatised, though the reform...

ONGC top profit making PSU; BSNL top loss making PSU: Economic Survey

OUTLINING some interesting facts about the health of PSUs, the Economic Survey presented in Lok Sabha said the contribution of Central Public Sector Enterprises (CPSEs) to the exchequer decreased by nearly Rs. 20,400 crore to Rs. 2,00,584 crore in 2014-15.

ONGC, Coal India, NTPC, National Mineral Development Corporation (NMDC) and Power Finance Corporation were...

Stressed public sector banks to get government package soon

THE stressed public sector banks will soon get a comprehensive package from the government that is working on it. This was stated by minister of state (MoS) for finance Jayant Sinha on July 1.

The move aims at helping those PSBs reeling under bad loans (NPAs) and improve the flow of credit for industry,

"NPAs (non performing assets, or distressed loans) are simply a symptom of the underlying...

‘4D’ model for PSU banks outlined in Economic Survey

FM Jaitley fine-tuning the Budget 

THE PSU banks, which are going through tough times, must follow the “4D model” — deregulation, differentiation, diversification and disinterring, the Economy Survey 2014-15 said.

Deregulation and differentiation because of the high level of inconsistency in operation...

ONGC again emerges India's highest profit-making PSU

MAHARATNA oil explorer ONGC has done it again. The PSU has again emerged as the highest profit-making PSU of the country during 2012-13. Telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Presented a day ahead of the Union Budget, the Economic Survey said the net profit of 149 profit-making CPSEs...