CPSE Profits Jump 174% In Five Years Driven By Operational Efficiency, Says Economic Survey

The Central Public Sector Enterprises (CPSEs) witnessed strong growth in the past five years, reflecting the improvement in operational efficiency and effective capital management of PSUs, according to the Economic Survey 2025-26.

The survey also noted that the growth in PSUs led to the boost of the Centre’s non-tax revenues. Among the key metrics that were mentioned in the survey were the gross turnover, net profits, and dividends per CPSE, seeing a jump by approximately 32 per cent, 174 per cent and 69 per cent, respectively, between FY20 and FY25.

This has also helped to protect the interests of minority stakeholders in CPSEs, it said.

The survey said that the non-tax revenues of the Centre, as a percentage of GDP, have remained stable at around

1.4 per cent of GDP in the post-pandemic period. It underpinned the surge in dividends and profits, which grew by over 70 per cent annually during the last two years, due to the stability in the non-tax revenues.

During FY26, RBI approved a surplus transfer of Rs 2.68 lakh crore to the Central Government for the accounting year FY25, which is about 27 per cent higher than the dividend of Rs 2.19 lakh crore paid in the previous year. As a result, during April to November 2025, non-tax revenues registered a growth of 20.9 per cent, reaching 88.6 per cent of the Budget Estimates for the year. Among “other” components of non-tax revenue, economic services accounted for a significant share, with major contributions from communication, roads and bridges.

Metric	FY20 (Rs Lakh Crore)	FY25 (Rs Lakh Crore)
No. of Operating CPSEs	256	291
Total Gross Turnover (Rs lakh crore)	24.62	37.01
Net Profit (Rs lakh crore)	0.93	2.91
Dividend (Rs lakh crore)	0.72	1.39