ONGC Top Profit Making Public Sector Enterprises in 2021-22
ONGC Top Profit Making Public Sector
Enterprises in 2021-22
Why In News
The net profit of
operating public sector enterprises jumped 50.87 per cent to ₹ 2.49 lakh crore
during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging
as top five performers.
Key Points
The net profit of
operating public sector enterprises jumped 50.87 per cent to ₹ 2.49 lakh crore
during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging
as the top five performers. The net profit of operating central public sector
enterprises (CPSEs) stood at ₹ 1.65 lakh crore in the previous fiscal. The
Public Enterprises Survey 2021-22 also revealed that the net loss of
loss-making CPSEs narrowed to ₹ 0.15 lakh crore in FY 2021-22 from ₹ 0.23 lakh
crore in FY 2020-21, showing a decrease of 37.82 per cent. Major loss-making
CPSEs include Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telecom Nigam Ltd
(MTNL), Air India Assets Holding Ltd, Eastern Coalfields Ltd and Alliance Air
Aviation Ltd.
Highest Contributing Sectors:
Among the sectors,
manufacturing, processing and generation sector continues to command the
highest share, followed by services, and mining and exploration. Three cognate
groups – petroleum (refinery and marketing), trading and marketing, and power
generation – together contributed 69.08 per cent to the gross revenues in FY
2021-22.
A Humongous Growth:
The net profit of
profit-making CPSEs stood at ₹ 2.64 lakh crore in FY 2021-22 against ₹ 1.89
lakh crore in the previous fiscal, up 39.85 per cent. The top five CPSEs with
the highest net profits were ONGC, Indian Oil Corporation, Power Grid
Corporation of India, NTPC and Steel Authority of India Ltd (SAIL).
The contribution of
all CPSEs to the central exchequer by way of excise duty, custom duty, GST,
corporate tax, interest on central government loans, dividend, and other duties
and taxes stood at ₹ 5.07 lakh crore in FY 2021-22, as against ₹ 4.97 lakh
crore in FY 2020-21, showing an increase of 2.14 per cent.
The Top 5 Central Public Sector Enterprises:
The top five CPSEs
contributing to the central exchequer were Indian Oil Corporation, Bharat
Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Bharat Oman
Refineries Ltd and Chennai Petroleum Corporation Ltd.
Besides, the
corporate social responsibility (CSR) expenditure of all CSR eligible CPSEs
(160) stood at ₹ 4,600 crore in FY 2021-22 compared
to ₹ 4,483 crore in FY-21, up 2.61 per cent.
The top five CPSEs
contributing the highest under CSR were ONGC, NTPC, Indian Oil Corporation,
NMDC and Power Grid.
Draft Guidelines for Online Gaming, Self-regulation proposed
Draft Guidelines for Online Gaming,
Self-regulation proposed
Why In News
Draft Guidelines for
Online Gaming: Government proposes self-regulatory organizations for
international online gaming companies operating in India, but it will not
permit betting.
Key Points
In a draft change of
IT rules, the government proposes self-regulatory organizations for
international online gaming companies operating in India, but it will not
permit betting. The draft online gaming guidelines released on Monday included
steps to protect consumers from the risk of gaming addiction and financial loss
as well as user authentication.
Rajeev Chandrasekhar,
Minister of State for Electronics and IT, stated that self-regulatory
organizations will create the filters and tests necessary to determine what
gaming is acceptable, whether it be a game of chance, a game of skill, or
anything else, during a briefing on the proposed guidelines.
The proposed
amendments provide that an online gaming intermediary must adhere to the rules
when performing its obligations, including making reasonable efforts to prevent
its users from hosting, displaying, uploading, publishing, transmitting, or
sharing an online game that is in violation of Indian law, including any law
pertaining to gambling or betting.
According to the
premise outlined in the proposed guidelines, online gaming organisations would
not be permitted to place bets on the results of games, according to
Chandrasekhar.
The proposed
regulations advise companies to take additional precautions, including
displaying a registration mark on all online games licenced by a
self-regulatory organisation (SRO) and informing users of their withdrawal and
refund policies, how winnings are calculated and distributed, fees and other
costs due, and the KYC process for user account registration.
Govt seeks to ban
social media sites’ promotion of online betting
The minister stated
that more specifics regarding the demand for kid verification would become
clear after the consultation is complete.
Additionally, it has
been suggested that the chief compliance officer of the gaming company be a
senior employee or key member of the management team who resides in India, and
that the online gambling platform disclose a physical address in India on its
website or mobile application.
Comments on the
draught are being sought by the Ministry of Electronics and IT until January
17.
The government has
received input indicating that there is still much work to be done to make
online gaming secure for women, according to Chandrasekhar, who also mentioned
that he has learned that 40–45% of players are female.