New Delhi: The government is planning to revise the criteria for classification and performance assessment of Central Public Sector Enterprises (CPSEs) by introducing two additional 'ratna' categories alongside the existing Maharatna, Navratna and Miniratna statuses. The move is aimed at developing the next generation of CPSEs in line with India's medium- to long-term economic goals, said officials. The government is also considering new evaluation parameters such as corporate governance, succession planning and leadership development, capital expenditure and dividend payout, sustainable business practices and alignment with Vision 2047, they said.

New Delhi: The government has asked all key ministries, central public sector enterprises (CPSEs), banks, and financial institutions to halt spending on Diwali and other festival gifts as part of an austerity drive. The move aims to promote fiscal discipline, curb non-essential expenditure, and ensure prudent use of public funds. "It has been decided that no expenditure shall be incurred on gifts and related items for Diwali and other festivals by Ministries/Departments and other organs of the Government of India," said an official memorandum dated September 19, issued by the Department of Expenditure.

The Ministry of Finance has directed all central ministries, departments, and Central Public Sector Enterprises (CPSEs) to refrain from spending public funds on gifts during Diwali and other festivals. In an office memorandum issued by the Department of Expenditure, the ministry said the step is part of ongoing efforts to ensure fiscal discipline and curb non-essential expenditure. “No expenditure shall be incurred on gifts and related items for Diwali and other festivals by Ministries/Departments and other organs of the Government of India,” the circular stated. The directive, approved by the Secretary (Expenditure), comes into immediate effect. Add as a Reliable and Trusted News Source

In an office memorandum issued by the Department of Expenditure, the ministry said the step is part of ongoing efforts to ensure fiscal discipline and curb

In an office memorandum issued by the Department of Expenditure, the ministry said the step is part of ongoing efforts to ensure fiscal discipline and curb

Capital expenditure by major central public sector enterprises (CPSEs) and four key government bodies declined 23% year-on-year in July to Rs 53,406 crore, partially attributed to a high base effect, according to a senior official, quoted by Economic times.Experts believe public capital expenditure, including CPSE investments, remains vital for the nation's economic growth this financial year, as external challenges- particularly uncertainties from the US's announcement of 50% additional tariff on India- could potentially impact domestic private investments.Notably, expenditure by CPSEs and four major government agencies with annual capex targets exceeding Rs 100 crore each- the Railway Board, National Highways Authority of India (NHAI), …

The Finance Ministry on Tuesday informed Parliament that the government is planning to revise the guidelines governing the classification and performance assessment of Central Public Sector Enterprises (CPSEs). "Revision of guidelines governing the classification is under study," Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply. The Centre granted Maharatna status to Hindustan Aeronautics Ltd in the previous fiscal year and Miniratna status to 11 CPSEs.

New Delhi: The Department of Public Enterprises (DPE) has expanded the scope of investigation of corruption cases involving central public sector enterprises (CPSEs), bringing non-official and independent directors under vigilance purview alongside CMDs and CEOs. A group of senior officers - headed by the secretary, coordination, cabinet secretariat - will probe complaints against top management received and referred by the Prime Minister's Office or cabinet secretariat in instances where there are no departmental enquiry.

The CAG has flagged concerns over corporate governance issues among the central public sector enterprises (CPSEs), saying that out of the 71 listed CPSEs, 26 had inadequate board composition, 55 lacked the required number of independent directors and 20 did not have a woman director on their boards. The CAG submitted a report on the financial performance of CPSEs in Parliament on Monday, reviewing the finance and corporate governance of government entities for 2021-22.

Oil India Limited (OIL) and GAIL (India) Limited, both prestigious Maharatna Central Public Sector Enterprises (CPSEs) operating under the Ministry of Petroleum & Natural Gas, have signed a significant 15-year Gas Sale and Purchase Agreement (GSPA) for the supply of up to 900,000 Standard Cubic Meters per Day (SCMD) of natural gas. The gas will be sourced from OIL’s producing gas fields in Rajasthan.

New Delhi: The government will have a relook at the closure of State Trading Corporation of India Limited (STC) and PEC Limited through the Bankruptcy Code, the first instance of pursuing closure of central public sector enterprises or CPSEs through this mechanism. Both these firms are categorised as a nonperforming asset or NPA with lenders. A senior government official confirmed that the closure of these two firms under the ministry of commerce and industry is now being examined through the Insolvency and Bankruptcy Code (IBC) mechanism.

New Delhi: The government is planning to evaluate the performance of about 90 central public sector enterprises (CPSEs) in 2024-25 against the targets set for them, a senior official said, adding that the exercise will begin in October. The evaluation will start once the audited accounts of all the CPSEs are available, said the official, who did not wish to be identified.

The move comes on top of similar instructions to various ministries and departments earlier this fiscal to front-load their capex, aimed at supporting

The move comes on top of similar instructions to various ministries and departments earlier this fiscal to front-load their capex, aimed at supporting

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RailTel and NBCC sign MoU to jointly develop data centre projects in India and overseas, combining IT infrastructure and civil construction.

The central public sector enterprises (CPSEs) tied to Indian Railways, many of which are now Navratna companies, are looking for alternative revenue streams beyond railway projects. They are exploring opportunities in road and infra development, overseas construction projects, and consultancy projects for other government departments. In fact, even for railway projects, many CPSEs now find themselves competing with private companies.