Central public sector enterprises receiving assistance to beat financial loss
While replying to a query, the minister said that CPSEs under the Department of Heavy Industry (DHI) are incurring losses due to a number of factors such as poor order book, shortage of working capital, surplus manpower, obsolete plant and machinery and difficulty in adjusting to changing market conditions.
He then gave details of the assistance provided to the CPSEs under DHI.
Cement Corporation of India (Rajban unit in Himachal Pradesh) has been availing 100% excise duty exemption since 2010. It has availed excise duty concession amounting to Rs.7.37 crore and Rs.9.02 crore in the year 2014-15 and 2015-16, respectively.
Hindustan Paper Corporation Ltd. was in receipt of grant for meeting its additional operational costs on account of transportation. It has availed grant amounting to Rs.83.50 crore and Rs.50.00 crore during 2015-16 and 2016-17 respectively.
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