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Synopsis
The CAG noted that deviations from the provisions of accounting standards in preparation of financial statements in 27 CPSEs were noticed by the statutory auditors, while it pointed out such deviations in 10 CPSEs.
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Compared to the previous year, holding of the central government in equity of CPSEs registered a net increase of Rs 40,370 cror.
India’s national auditor has said that 247 central public sector enterprises (CPSEs) earned profit of Rs 1.78 lakh crore during 2018-19, of which 73% was contributed by 63 companies in sectors of petroleum, coal and lignite and power.
However, The Comptroller Auditor General (CAG) flagged that 189 CPSEs had accumulated losses of Rs 1.4 lakh crore as on March 31, 2019, of which net worth of 77 companies had been completely eroded due to the accumulated losses. ....

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