State-owned PSUs incur Rs 1,265 cr loss in FY17
- Karnataka government-owned public sector companies have reported a loss of Rs 1,265.37 crore for the year ended March 2017.
- Out of 90 working public sector units (PSUs) in the state, 22 have incurred losses, while 52 earned a profit during the year, according to a CAG report tabled in the Legislative Assembly
- The working PSUs earned a profit of Rs 1,420.49 crore during the period.
- However, the losses during the year were lower by 19.4% compared with Rs 1,570.21 crore reported in 2015-16, while the profits were almost flat compared with Rs 1,425.50 crore reported in FY16, the CAG report said.
- Among the PSUs that incurred losses, Karnataka Neeravari Nigam Ltd reported a huge loss of Rs 477 crore followed by Hubli Electricity Supply Company Limited (Rs 373) crore. Gulbarga Electricity Supply Company Limited reported a loss of Rs 131 crore loss.
- However, during the year under review, working PSUs showed aggregate profit of Rs 155.12 crore compared with a net aggregate loss of Rs 144.71 crore.
- The major contributor to profit was Karnataka Rural Infrastructure Development Corporation Limited, which reported Rs 110 crore profits.
- Karnataka had 90 working PSUs and 12 non-working PSUs which employed 1.76 lakh personnel.
- The investment (capital and long-term loans) in these 102 PSUs was Rs 1,03,717.40 crore as on March 31, 2017.
- The government contributed Rs 23,115.41 crore towards equity, loans and grants and subsidies in 2016-17.
- The PSUs registered a turnover of Rs 56,478 crore during 2016-17, a growth of 5% over the previous year. In 2015-16, the turnover of all PSUs stood at Rs 53,788 crore as per their latest finalised accounts.
- The turnover in 2016-17 was equal to 5.05% of the Gross State Domestic Product (GSDP).
- Eight companies, incorporated during the year, did not finalise their first accounts. One company â€“ Bangalore Suburban Rail Company Limited â€“ incorporated in March 2014, did not finalise its first accounts, the CAG said in its report.
- The state government is in the process of closing down 12 non-working PSUs and has decided to close down three working PSUs. The government has also decided to privatise eight working PSUs as well as restructure one working PSU, the CAG report added.
Notify linguistic minority communities in State: HC
- The Karnataka High Court on 22nd Feb directed the Union government to consider the report submitted in 2007 by the National Commission for Religious and Linguistic Minorities and deliberate on linguistic minority communities in Karnataka, and issue necessary notification by March 14.
- Justice B.V. Nagarathna issued the direction while hearing a petition filed by an educational institution, which is claiming protection under the linguistic minority status against reserving 25% seats under the Right to Education Act.
- Earlier, counsel for Union government, in response to court’s query on status of the commission’s report, said no action was taken on the matter.
- Observing that the State government’s intention to provide admissions under the RTE quota in institutions not possessing minority status is understandable, the court also said the rights of the institutions are guaranteed under Article 30 (Right of minorities to establish and administer educational institutions) of the Constitution.
- The High Court on 22nd Feb ordered issue of notices to the State on a PIL petition questioning the rules related to allotment of stray sites of the Karnataka Housing Board under discretionary quota.
- A Division Bench passed the order on the petition filed by Bojappa K, a resident of Bengaluru.
- The petitioner has sought a direction to frame guidelines for allotment of sites to “persons in public life” under the discretionary quota, as the rule does not define the term “persons in public life”, thereby giving room for its misuse.
BASE University Bill adopted
- The Bengaluru Dr. B.R. Ambedkar School of Economics University Bill, 2018 was adopted in the Legislative Assembly on 22nd Feb to develop the institute as a university.
- It will be developed as an institution of excellence in the areas of economics and other social sciences in the State, as the existing institutions have not been able to meet the increasing complexity of growth and development in these subjects.
- An expenditure of Rs. 250 crore is expected to be incurred by the institute in 2018-19.
- The government also adopted the Sri Sathya Sai University for Human Excellence Bill, 2018 to set up a university by Prashanti Balamandira Trust, Chickballapur.
- The private university will focus on degree, postgraduate and doctoral degree courses in all social and natural sciences.
34 KAS officers get IAS promotion
- As many as 34 KAS officers will be elevated to the IAS based on the state government’s recommendation, the Chief Minister’s Office said 22nd Feb.
- The officers are: B C Sateesha, H Basavarajendra, H N Gopal Krishna, Dr N Shiva Shankara, Dr Arundathi Chandrashekar, Dr M R Ravi, P N Ravindra, K Jyothi, C N Meena Nagaraj, Akram Pasha, K Leelavathy, P Vasantha Kumar, Karee Gowda, Shivananda Kapashi, Gangubai Ramesh Mankar, Kavitha S Mannikeri, R S Peedapaiah, G C Vrushabendra Murthy, Dr K Harish Kumar, M R Ravi Kumar, M B Rajesh Gowda, Mahantesh Bilagi, K N Ramesh, Patil Yelagouda Shivanagouda, S Honnamba, R Latha, K Srinivas, M S Archana, K Dayananda, G Jagadeesha, K M Janaki, C Sathyabhama, Rajamma A Chowda Reddy and K S Latha Kumari.
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