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CAG Flags Governance Issues Among CPSEs | Current Affairs | Vision IAS

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CAG Flags Governance Issues Among CPSEs

1 min read

Concerns Over Corporate Governance in CPSEs

The Comptroller and Auditor General (CAG) has highlighted significant issues related to corporate governance among Central Public Sector Enterprises (CPSEs).

Board Composition and Directors

  • Among the 71 listed CPSEs: 
    • 26 had inadequate board composition.
    • 55 lacked the required number of independent directors.
    • 20 did not have a woman director on their boards.

Corporate Social Responsibility (CSR) Spending

  • Many CPSEs failed to meet their CSR spending targets.
  • 14 CPSEs allocated less than 2% of their net profit towards CSR activities.

Financial Performance and Dividends

  • A total of 121 CPSEs and corporations declared a dividend of ₹1.11 lakh crore for 2021-22.
  • The Government of India received ₹54,381 crore from these dividends.

Reduction in Losses

  • The losses incurred by government companies and corporations decreased to ₹31,347 crore in 2021-22.
  • Tags :
  • CAG
  • CPSEs
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