1. The document discusses several major public sector undertakings in India that have been incurring significant losses over the past few years, including Bharat Sanchar Nigam Ltd (BSNL), Air India, Mahanagar Telephone Nigam Ltd (MTNL), Hindustan Photo Films Manufacturing Company (HPF), Western Coalfields Limited (WCL), Bharat Coking Coal Ltd (BCCL), Eastern Coal Fields (ECL), Rashtriya Ispat Nigam Limited (RINL), India Infrastructure Finance Company (IIFCL), and Hindustan Cables Limited (HCL). 2. BSNL has posted total losses of Rs 18,

1. 1
THE MAJOR DOWNTREND PUBLIC SECTOR UNDERTAKINGS IN INDIA
VARUN KESAVAN, RESEARCH SCHOLAR, E – MAIL ID – varunkesavan@yahoo.com
BHARAT SANCHAR NIGAM LTD (BSNL)
Bharat Sanchar Nigam ltd (BSNL) is the top loss making PSU in India. In the last three
financial years, BSNL has posted a total loss of Rs 18,380 crore. In FY18 alone BSNL's
losses increased by 82 per cent. BSNL serves its customers with a wide bouquet of
telecom services namely Wireline, CDMA mobile, GSM mobile, Internet, Broadband,
Carrier service, MPLS-VPN, VSAT, VoIP, IN Services, FTTH, etc. BSNL has 11.58 crore
cellular connections and 1.17 crore landline connections as on April 2019. For some time
now, BSNL is facing a financial crunch. It has started to impact its employees as the
company has delayed salaries on two separate occasions.
AIR INDIA
Since FY16 Air India has incurred a total loss of Rs 13,196 crore. The government
has tried to disinvest stake in Air India twice but failed. Now, talks are on about
third attempt at Air India's disinvestment.
MAHANAGAR TELEPHONE NIGAM LTD (MTNL)
Mahanagar Telephone Nigam ltd (MTNL) is another PSU that is consistently
making losses. In the last three fiscals, MTNL has made a combined loss of Rs
8,674.7 crore.

2. 2
HINDUSTAN PHOTO FILMS MANUFACTURING COMPANY (HPF)
Incorporated in 1960, Hindustan Photo Films Manufacturing Company (HPF) is a
Government of India undertaking. In the last three fiscals, HPF has made a loss of
Rs 8,287 crore. Due to the product/technology obsolescence in the wake of rapid
development of digital technologies, the company became unviable and was
declared sick by Board for Industrial and Financial Reconstruction (BIFR) in 1996.
In 2014, the Government of India /CCEA approved the proposal to offer VRS at
2007 notional pay scale to all the remaining employees of the Company and to
take further steps for the closure of the company.
WESTERN COALFIELDS LIMITED (WCL)
Western Coalfields Limited (WCL) is one of the eight Subsidiary Companies of
Coal India Limited (CIL) which is under administrative control of Ministry of Coal.
WCL was conferred "Miniratna" status on 15th March'2007. But in the last two
fiscals the company has made a loss of Rs 3,905 crores.

3. 3
BHARAT COKING COAL LTD (BCCL)
Bharat Coking Coal Ltd (BCCL) was incorporated in January, 1972 to operate
coking coal mines operating in the Jharia & Raniganj coalfields, taken over by the
government in 1971 to ensure planned development of the scarce coking coal
resources in the country. BCCL has not been performing well. It has incurred a
loss of Rs 2,388 crore in the last two fiscals.
EASTERN COAL FIELDS (ECL)
Eastern Coal Fields (ECL) was founded in 1975 after nationalisation of coal mines
in India. It operates coalmines in Jharkhand and West Bengal. It inherited all the
private sector coal mines of the Raniganj coalfield. Out of the last three fiscals,
ECL has made loss only once. In FY18, ECL incurred a loss of Rs 1,466 crore.
RASHTRIYA ISPAT NIGAM LIMITED (RINL)
Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel
Plant is a Navaratna PSE under the Ministry of Steel. RINL has been making
consistent losses for the last three fiscals. It has incurred a combined loss of Rs
4,762.7 crore.

4. 4
INDIA INFRASTRUCTURE FINANCE COMPANY (IIFCL)
PSU, India Infrastructure Finance Company (IIFCL) is a wholly-owned
Government of India company set up in 2006 to provide long-term financial
assistance to viable infrastructure projects. The company has made loss only in
the preceding fiscal. In financial year 2017-18, IIFCL had made a loss of Rs 1,027
crore.
HINDUSTAN CABLES LIMITED (HCL)
Established in 1952, Hindustan Cables Limited (HCL), a public-sector undertaking,
has grown from a single-unit, single-product entity to a multi-unit multi-product
company. But the fortunes of the company have turned. The company has made
losses in all three preceding fiscals. Hindustan Cables have made a combined loss
of Rs 2,921.8 crore.