Blue-chip PSUs set to become Mahanavratna
Granting more autonomy to the mega CPSEs is part of the 100-day agenda of the Ministry of Heavy Industries and Public Enterprises.
By Agencies |
NEW DELHI: The government will enhance the autonomy for large-sized, high profit-making Central Public Sector Enterprises for taking decisions on investment and mergers and acquisitions by upgrading their status to ���Mahanavratna��� from ���Navratna���.
Granting more autonomy to the mega CPSEs is part of the 100-day agenda of the Ministry of Heavy Industries and Public Enterprises.
���The process for the introduction of Mahanavratna category of CPSEs has already been initiated and is expected to be completed within next three months,��� an official statement said on Monday.
Mega sized state-owned oil and capital goods firms like ONGC, Indian Oil Corporation , BHEL and NTPC could be included in the new coveted group, sources said.
Over the years, some of the ���Navratna��� companies have grown ���very big��� and have been requesting the government for greater delegation of powers so as to help them further increase their operations, particularly in the global market.
���The new category of Mahanavratna is specifically intended with this end in view.... The introduction of Mahanavratna category is expected to enable CPSEs to substantially expand their operations domestically as well as globally,��� the statement said.
Granting more autonomy to the mega CPSEs is part of the 100-day agenda of the Ministry of Heavy Industries and Public Enterprises.
���The process for the introduction of Mahanavratna category of CPSEs has already been initiated and is expected to be completed within next three months,��� an official statement said on Monday.
Mega sized state-owned oil and capital goods firms like ONGC, Indian Oil Corporation , BHEL and NTPC could be included in the new coveted group, sources said.
Over the years, some of the ���Navratna��� companies have grown ���very big��� and have been requesting the government for greater delegation of powers so as to help them further increase their operations, particularly in the global market.
���The new category of Mahanavratna is specifically intended with this end in view.... The introduction of Mahanavratna category is expected to enable CPSEs to substantially expand their operations domestically as well as globally,��� the statement said.
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