FinMin revokes 8-year-old circular: CPSEs no longer need NITI nod for JVs

The DPE in a notification said it has been done to make the process easy and less time consuming

In a move to delegate more autonomy to key central public sector enterprises (CPSEs), the Ministry of Finance (FinMin) has revoked an eight-year-old circular, which required Maharatna, Navratna, and Miniratna CPSEs to take prior permission of NITI Aayog before forming financial joint ventures (JVs) and wholly owned subsidiaries (WoS). 

 

The Department of Public Enterprises (DPE) in a notification said it has been done to make the process easier and less time-consuming. 

“At present, all proposals… by Maharatna, Navratna, and Miniratna CPSEs for investments in setting up JVs/WoS, etc. require clearance both from Niti Aayog and DIPAM (Department of Investment and