The Government has implemented Maharatna, Navratna and Miniratna scheme for Central Public Sector Enterprises (CPSEs) under which the Boards of these CPSEs have been delegated powers, inter-alia, to enter technology joint ventures or strategic alliances and to obtain by purchase or other arrangement technology and know-how as per Government guidelines. Further, ‘R&D, Innovation, Technology up-gradation’ has been included as a non-financial parameter under the system of Memorandum of Understanding for CPSEs (except for CPSEs in the financial sector) with a weight of up to 10% in order to provide focus on efforts of management of CPSEs in this regard.
All CPSEs function under the administrative jurisdiction of concerned Ministry/Departments. The Board of Directors of a CPSE is responsible for regular review of performance of the concerned CPSE and to decide on steps to be taken for enhancing output/productivity of the company as per its operational needs and business plans with the approval of the competent authority. The concerned administrative Ministry/Department also undertakes periodic review of performance of CPSEs under their respective jurisdiction to facilitate policy interventions required for enhancing output/productivity of concerned CPSE(s).
This information was given by the Minister of Heavy Industries & Public Enterprises, Arvind Ganpat Sawant, in a written reply in the Lok Sabha today.