The lack of dividend declaration as per set norms by government companies has cost the exchequer Rs 9,011 crore according to the Comptroller and Auditor General of India. In its audit report on General Purpose Financial Reports of Central Public Sector Enterprises (CPSEs), the CAG states, "Non-compliance with Government’s directive in the declaration of dividend by 37 Government Companies resulted in a shortfall of Rs 9,011 crore in the payment of dividend for 2015-16."

The report also notes that equity investment in 67 Government Companies had been completely eroded by their accumulated losses. As a result, the aggregate net worth of these Government Companies had become negative to the extent of Rs 79,227 crore as on 31 March 2016.

According to the report, out of 197 Government companies and corporations which earned profit, 106 Government companies and corporations declared dividend for 2015-16 amounting to Rs 71,887 crore. Out of this, Rs 41,185 crore were paid/payable to the Government of India which represented 13.91 per cent return on the total investment by the Government of India (i.e., Rs 2,96,061 crore) in all Government companies and corporations. Thirteen Government companies under the Ministry of Petroleum and Natural Gas contributed Rs 16,570 crore representing 23.05 per cent of the total dividend declared by all Government Companies.

Out of the 384 Government Companies and Corporations whose data has been analysed in this report, 197 Government companies and corporations earned profits during the financial year 2015-16. The total profit earned by 197 Government companies and corporations was Rs 1,36,695 crore of which, 72.75 per cent (Rs 99,437 crore) was contributed by 47 Government companies and corporations in three sectors viz., Petroleum and Natural Gas, Power and Coal & Lignite.