PSU employees' salary increased over 100% in last 4 yrs: Survey

A PSU employee on an average received an annual salary of Rs 6.09 lakh in 2009-10, with total emoluments increasing more than 100 per cent in the last four years.

According to a Public Enterprises Survey of the government, thanks to the pay hike which was effected in 2008-09 following the implementation of the Wage Commission Committee.

Despite the salary increase, PSUs have managed to increase their net profit by 10.40 per cent to a combined Rs 92,593 crore in 2009-10.

Of the 249 Central Public Sector Undertakings (CPUs), as many as 217 make profit.

However, in 2009-10, salaries and wages in all PSUs went up by 9.41 per cent to Rs 90,863 crore in 2009-10 for the period under review.

The CPSUs have also trimmed their workforce by 43,000 during the period covered in the survey.

The number of people employed in the state-owned companies came down to 14.91 lakh (excluding casual workers) in 2009-10 from 15.34 lakh in the previous year, it said.

About 3.54 lakh people have opted for voluntary retirement scheme till March 2010, since it was introduced in 1988.

Of the total workforce in 249 Central PSUs, about one fourth of the manpower was in managerial and supervisory cadres.

Source : Economic Times.