Audit Reports
Andhra Pradesh
Report of 2010 - Performance Audit on Commercial of Government of Andhra Pradesh
Overview
Audit of Government Companies is governed by Section 619 of the Companies Act, 1956. The accounts of Government Companies are audited by Statutory Auditors appointed by the CAG. These accounts are also subject to supplementary audit conducted by the CAG. Audit of Statutory Corporations is governed by their respective legislations. As on 31 March 2010, the State of Andhra Pradesh had 44 working PSUs (41companies including three 619B companies and three Statutory Corporations) and 24 non-working PSUs (all companies including six 619B companies), which employed 2.61 lakh employees. The State working PSUs registered a turnover of Rs.52,822.45 crore for 2009-10 as per the latest finalized accounts. This turnover was equal to 12.84 per cent of State GDP indicating an important role played by State PSUs in the economy. The working State PSUs incurred a loss of Rs.15.50 crore in aggregate for the year 2009-10 and had accumulated losses of Rs.3,103.07 crore.
As on 31 March 2010 the investment (Capital and long term loans) in 68 PSUs was Rs.44,894.92 crore. It grew by 45.37 per cent from Rs.30,882.85 crore in 2004-05. Power sector accounted for 52.81 per cent of total investment in 2009-10. The Government contributed Rs.8,639 crore towards equity, loans and grants/subsidies during 2009-10. several weak areas.