Net worth of CPSEs soars 82% in nine years, hits Rs 17.33 lakh crore: Hardeep Puri

India’s Central Public Sector Enterprises (CPSEs) have shown remarkable financial growth over the past nine years, with their net worth increasing by 82% to reach Rs 17.33 lakh crore in FY 2023, up from Rs 9.5 lakh crore in FY 2014, said Petroleum Minister Hardeep Singh Puri on Thursday. Speaking at the Confederation of Indian Industry’s (CII) PSE Summit, Puri praised the public sector’s role in bolstering India’s economic resilience and supporting national growth.

Puri highlighted that CPSEs’ contributions to the national exchequer through excise duties, taxes, and dividends more than doubled, rising from Rs 2.20 lakh crore in FY 2014 to Rs 4.58 lakh crore in FY 2023. Profits across CPSEs saw a significant leap, reaching Rs 2.41 lakh crore in FY23, up from Rs 1.29 lakh crore in FY14. In addition, the market capitalization of 81 listed Public Sector Enterprises (PSEs) increased by a substantial 225% during this period.

Key Growth Indicators

• Net Worth: Up 82% to Rs 17.33 lakh crore by FY 2023
• Contributions to Exchequer: Doubled to Rs 4.58 lakh crore
• Profits: Increased from Rs 1.29 lakh crore in FY14 to Rs 2.41 lakh crore in FY23
• Market Capitalization: Grew by 225% among listed PSEs

Focus on Sustainability and Energy

In his remarks, Puri outlined a vision for India’s energy sector based on availability, affordability, and sustainability. He noted that India has made substantial progress in its bioethanol blending program, with blending levels rising from 1.53% in 2014 to 15% in 2024. The government is now targeting 20% blending by 2025, five years ahead of schedule, as part of its commitment to reducing carbon emissions and enhancing energy sustainability.