Tripura Assembly News: Deepening losses plague TIDC, Jute Mills trims losses, TSIC shines

State-owned Corporations like Tripura Industrial Development Corporation (TIDC) are facing serious financial challenges for successive three years, 2020-21 to 2022-23. 

According to the information laid by the Minister in-charge of the Industries Commerce Department in the winter session of the Tripura State Assembly, Tripura Small scale Industries Corporation (TSIC) is the sole organisation witnessing profit while TIDC is the worst sufferer in the past three financial years.

Apart from TIDC and TSIC, Information on financial status of the Tripura Tea Development Corporation (TTDC) and Tripura Jute Mill Ltd also painted a bleak picture.

The Tripura Industrial Development Corporation (TIDC) has been witnessing increasing loss for the past three financial years. 

In the financial year 2020-2021, it incurred a loss of Rs 1,31,60,539. In the financial year 2021-2022, the loss increased to Rs 1,67,30,645. In 2022-2023 FY, the loss further jumped to a staggering Rs 10,03,30,053.

The Tripura Tea Development Corporation (TTDC) was profitable in the financial year 2020-2021, with a profit of Rs 1,12,49,752. However, it incurred losses in the following two financial years. In the financial year 2021-2022, the loss was Rs 2,25,05,064 which increased Rs 4,96,69,167 in the financial year 2022-2023. 

The Tripura Jute Mills Limited (TJML) has also been running at a loss for the past three financial years but the loss amount is steadily decreasing. 

In the financial year 2020-2021, it suffered a loss of whopping Rs 23,24,59,469. In the financial year 2021-2022, the loss decreased to Rs 16,23,10,089 which further downsized to Rs 12,04,90,658 in the financial year 2022-2023.

The Tripura Small Industries Corporation (TSIC) is the only corporation that has made a profit in the past two financial years – but the profit amount decreased in the last 2022-23 FY.

In the financial year 2020-2021, TSIC recorded a loss of Rs 41,56,010.68. Covering the loss, in the financial year 2021-2022, the profit increased to Rs 10,55,81,515.28. But, in the financial year 2022-2023, the TSIC recorded Rs 3,87,76,989 as profit.

As the data suggests, the overall picture is that the state-owned corporations in Tripura are not doing well financially as all but TSIC are making losses. Tripura Jute Mills Ltd is the only loss making organisation which is witnessing a decrease in loss.