The public sector enterprises (PSEs) are expected to raise 36% more resources for 2008-09 at Rs 1,95,531 crore against Rs 1,43,667 crore, the revised estimates (RE) for 2007-08.

The ministry of petroleum and natural gas with oil PSEs like Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOC) would raise the maximum resources at Rs 46,540 crore during the next fiscal. This will be an increase of 30.27% over Rs 35,724.55 crore the RE for 2007-08.

Most of the oil PSEs would arrange for the funds from their internal resources with just HPCL and IOC planning to explore other routes like bonds or debentures and external commercial borrowings (ECB) or suppliers credit to raise money in the next fiscal.

HPCL plans to raise Rs 1,285 crore through bonds and debentures while IOC would go for ECBs or suppliers credit to garner Rs 440 crore in 2008-09.

PSEs under the ministry of power would raise Rs 34,460.10 crore in the next fiscal reflecting an increase of 30.82% over the current fiscal?s RE of Rs 26,340.38 crore.

Power sector majors like NTPC and Power Grid Corporation propose to tap bonds or debentures and ECBs or suppliers credit to mop up Rs 8,960 crore and Rs 5,629 crore respectively in the next fiscal.

The public sector behemoth, Indian Railways, plans to arrange for Rs 29,626.10 crore in the next fiscal, an increase of 36.07% over the current fiscal?s RE of Rs 21,772.11 crore. The fund arrangement by Indian Railways would primarily be done from internal resources (Rs 20,600 crore, up by 26.87% over Rs 16,236.60 crore in 2007-08) and bonds or debentures for Rs 7,200 crore during 2008-09 over Rs 4,990 crore in the current fiscal. Airport Authority of India (AAI) would tap its internal resources and other sources to raise Rs 3,281.22 crore in 2008-09.

The total Plan outlay for the 139 PSEs has been raised by 31.69% to Rs 2,14,970.81 crore for 2008-09 over the RE of 2007-08 of Rs 1,63,303.38 crore.

According to the Budget provisions, the public sector companies are expected to receive an investment of Rs 2,14,970.81 crore in 2008-09, but would get lower equity support from the Centre. Analysts are of the view that this move could give the state-owned companies more autonomy. The equity component of the government support will be to the tune of Rs 16,436 crore in 2008-09, compared to Rs 16,742 crore 2007-08.

The government support to such PSUs in 2007-08 was to the tune of Rs 19,635.65 crore, comprising Rs 16,742.4 crore by way of equity and Rs 2,893.25 crore through loans. This has been reduced marginally to Rs 19,439.77 crore for 2008-09, with equity of Rs 16,436.37 crore and loan of Rs 3,003.4 crore.

The government would also encourage more CPSEs to get listed on the stock exchanges. As of now 44 such firms have raised money from the public.

?It is the policy of the government to list more CPSEs in order to unlock their true value and improve corporate governance,? finance minister P Chidambaram said in his Budget speech presented in Parliament on Friday.

The government has been pushing ahead with the plan to list more public sector companies to unlock the value of the companies. Finance minister said that the government is finalising a list of companies that would be listed over the next 12 months.