Public Sector Enterprises

A parliamentary panel on Thursday emphasised the need for the implementation of new Public Sector Enterprise (PSE) Policy without delay for achieving the intended objectives of fiscal prudence. The New PSE Policy for Atmanirbhar Bharat envisages that loss-making public sector undertakings (PSUs) in non-strategic sectors should be considered for privatisation or closure. "This policy aims to promote fiscal prudence and efficient resource allocation. However, not much headway has been made in this regard as the proposal for disinvestment of any non-strategic CPSE has not been approved since the guidelines were issued in December 2021," Standing Committee on Finance said in its report. New Public Sector Enterprise (PSE) Policy for Atma Nirbhar Bharat, which also provides overall guidance on strategic disinvestment, was notified on February 4, 2021, with the approval of the Cabinet. The policy intends to minimise the presence of the government in PSEs across all sectors of the ...

Budget must prioritise divestment to create fiscal space to tackle unexpected shocks and support critical sectors including health and education

Defence production led R&D expenditure by central public sector enterprises in FY25, followed by petroleum and heavy engineering, as overall spending rose sharply year-on-year

Sitharaman says the govt will shift focus to speed up disinvestment

The practice of fixing annual divestment targets in the budgets was designed to tap an additional revenue source to contain the revenue deficit

Groups seek parity with what LIC employees earn, say salary revision due since 2022

Official data reveals that 648 of approximately 750 independent or non-official director roles on CPSE boards were unfilled by the end of December

More than 145 projects costing Rs 100 crore under implementation by govt oil and gas firms

IIFCL is planning to mop up Rs 3,000 crore in two tranches with varying maturities

PSUs will need to modify their contracts to comply with judgment

The Government has revised the CSR guidelines for CPSEs by including PM's Internship Scheme as the common theme for the current fiscal, an official said. Currently, Central Public Sector Enterprises (CPSEs) follow a theme-based approach in utilising their Corporate Social Responsibility (CSR) funds. CPSEs have to spend 60 per cent of their CSR funds on the theme set for a particular year. "We have added PM's Internship Scheme to 'Health and Nutrition' as the common theme for CSR activities by the CPSEs for 2024-25. CPSEs will spend 60 per cent of their CSR funds towards 'health and nutrition' and PM's Internship Scheme this fiscal," an official told PTI. The Ministry of Corporate Affairs, earlier this month, started enrolling companies as well as interns under the Prime Minister's Internship Scheme. Over five years, the scheme envisages providing internships to 1 crore youth. Under the pilot project, which is estimated to cost around Rs 800 crore, the 12-month long internship will

The government is working to amend its 2016 guidelines with regard to dividend payment, bonus issues and share buyback by CPSEs, officials said. The finance ministry had in May 2016, issued a comprehensive guidelines on 'Capital Restructuring of Central Public Sector Enterprises (CPSEs)' in 2016 for efficient management of government investment in CPSEs. "With the CPSEs now more strong in terms of balance sheet and having improved on their market capitalisation, it is now time for a relook of the capital restructuring guidelines," an official told PTI. The amended guidelines are expected to be issued by the finance ministry this month, another official said. As per the capital restructuring guidelines issued, CPSEs that do not have plans to deploy their capital optimally for business purposes should have a professional look at the surplus funds available to them. As per the guidelines issued by the Department of Investment and Public Asset Management (DIPAM) in May 2016, every CPS

The government has extended the deadline for meeting minimum public shareholding norms for central public sector enterprises and public sector financial institutions till August 2026. The central government in the public interest provided exemption up to August 1, 2026, to increase public shareholding to at least 25 per cent in CPSEs and public sector banks and financial institutions, according to an office memorandum issued by the Ministry of Finance. Central Public Sector Enterprises (CPSEs) with public shareholding below 25 per cent and which could not increase their public shareholding to at least 25 per cent within the timeline stipulated in Rule 19A of Securities Contracts (Regulation) Rules 1957 will now get time for another two years. As per the earlier order, the two-year exemption was to end on August 1, 2024. The Securities and Exchange Board of India is requested to take further necessary action and bring this to the notice of the stock exchanges concerned, it said. Ou

PSU stocks to buy: Analysts caution that premium valuation of PSU stocks may lead to limited upside from here

The gains in public sector enterprises like Power Grid and Coal India also boosted sentiment

Rs 3.6 trn shaved off from Adani Group mcap

LIC, while seeing a marginal decline to Rs 3.39 trillion, still accounts for a lion's share of 69% of total benefits paid

Atul Sobti, director general of SCOPE, said that RTI is a citizen-centric act facilitating transparency, ethics, accountability, and empowering citizens

NHAI and Railways drive robust growth in capex

A slowdown in fresh investments has resulted in a steady decline in the contribution of the corporate sector to overall capex and its share in GPD