Blitz Bureau
NEW DELHI: Petroleum Minister Hardeep Singh Puri on November 14 highlighted the role of Public Sector Enterprises (PSEs) in driving India’s remarkable growth story as the country is headed to become the third largest economy in the world.
Sharing key statistics to illustrate the remarkable performance, the minister said that the net worth of Central Public Sector Enterprises (CPSEs) has increased by 82 per cent, from Rs 9.5 lakh crore in FY14 to Rs 17.33 lakh crore in FY23.
Addressing the CII’s PSE summit here, the minister said that the contribution of CPSEs to the national exchequer – through excise duties, taxes, and dividends – has more than doubled, rising from Rs 2.20 lakh crore in FY14 to Rs 4.58 lakh crore in FY23.
He also highlighted that the net profit of profit-making CPSEs grew by 87 per cent, from Rs 1.29 lakh crore in FY14 to Rs 2.41 lakh crore in FY23. Furthermore, the total market capitalisation of all 81 listed PSEs has grown by 225 per cent under the leadership of Prime Minister Narendra Modi, outpacing both the PSE index and the BSE Sensex over the past decade.
Puri praised the resilience and performance of the PSEs over the last decade, noting that their contributions have been integral to India’s economic stability and progress.
“As we look to the future, the next few years will be critical in laying the groundwork for India’s next leap forward,” he said.
Puri also outlined a vision for India’s energy sector, emphasising three key principles: availability, affordability, and sustainability.
“Sustainability is the cornerstone of our energy strategy and aligns directly with our larger vision of transforming PSEs into engines of sustainable growth,” he said.
