CPSEs' turnover equals 23 per cent of GDP: SCOPE

KOLKATA: Central Public Sector Enterprises (CPSEs), which were formed to usher in a socialist pattern of society, are contributing significantly to the country's economy, a study by SCOPE said.

Standing Conference of Public Enterprises (SCOPE), the apex body of CPSEs, said the total turnover of the public sector units is equivalent to the 23.74 per cent of the nation's GDP.

The study said the equity capital of CPSEs advanced from Rs 43,245 crore in 1990-91 to Rs 1,38,843 crore by 2008-09, which was almost three times.

The turnover of CPSEs expanded from Rs 1,18,676 crore to Rs 12,63,405 crore, which was an increase of around 10 times during the same period, SCOPE study said.

Similarly, net profit of CPSEs had grown from Rs 2,272 crore to Rs 84,228 crore, an increase of 37 times over the same period, the study said.

Market capitalisation of 44 listed CPSEs outside the banking sector had also grown from Rs 5,25,400 crore to Rs 14,83,600 crore, an increase of 181 per cent during the period.