CPSE’s exchequer increases more than doubled, from Rs 2.20 lakh crore in FY14 to Rs 4.58 lakh crore in FY23.

 India is poised to become the third-largest economy in the world within the next five years and a developed nation by 2047,” stated Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, in his address at the 12th Public Sector Enterprises (PSE) Summit, organized by Confederation of Indian Industry (CII).

The minister highlighted the role of Public Sector Enterprises (PSEs) in driving the nation’s remarkable economic growth and advancing its sustainable energy future.

He underscored that India’s trajectory toward becoming a global economic powerhouse is rooted in robust reforms and the dedication of its PSEs. Public Sector Enterprises contributions have been integral to India’s economic stability and progress. “As we look to the future, the next few years will be critical in laying the groundwork for India’s next leap forward,” he said.

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The Minister shared several key statistics illustrating the remarkable performance of India’s Public Sector Enterprises. The net worth of Central Public Sector Enterprises (CPSEs) has increased by 82%, from Rs 9.5 trillion in FY14 to Rs 17.33 trillion in FY23.

The contribution of CPSEs to the national exchequer—through excise duties, taxes, and dividends—has more than doubled, rising from Rs 2.20 lakh crore in FY14 to Rs 4.58 lakh crore in FY23.

He also highlighted that the net profit of profit-making CPSEs grew by 87%, from Rs 1.29 lakh crore in FY14 to Rs 2.41 lakh crore in FY23. Furthermore, the total market capitalization of all 81 listed PSEs has grown by 225% under the leadership of Prime Minister Shri Narendra Modi, outpacing both the PSE index and the BSE Sensex over the past decade.

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Shri Puri highlighted the significant progress in bio-ethanol blending. “From 1.53% in 2014, ethanol blending has surged to 15% in 2024, with the government advancing the target of 20% blending to 2025, five years ahead of schedule,” he said.

The Minister also revealed that discussions have already started on developing a roadmap for the post-2025 phase i.e. after the attainment of the 20% ethanol blending target, ensuring continued growth in the bio-ethanol sector and advancing India’s renewable energy goals.

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