• The Union Government on November 27, 2018 conferred the ‘Miniratna status: Category –I’ on the National Projects Construction Corporation Limited (NPCC).
• The empowerment of Miniratna Status will help NPCC in taking speedy decisions by enhancing the delegation of powers to the Board.
• NPCC has also been awarded with the ISO 9001:2015 Certification.
National Projects Construction Corporation Limited
• National Projects Construction Corporation Limited (NPCC), a schedule ‘B’ Central Public Sector Enterprise (CPSE) under the administrative control of Ministry of Water Resources, was incorporated in 1957.
• It is a premier construction company having mandate with creation of infrastructure to provide impetus for economic development of the country.
• The Corporation is making continuous profit since 2009-10, having positive networth for the last six years and has ambitious business plan with enhanced order book position of Rs 11833 crore.
Department of Public Enterprises: Nodal Government Agency for granting status to CPSEs
• The Public Sector Enterprises are run by the Government under the Department of Public Enterprises (DPE) of Union Ministry of Heavy Industries and Public Enterprises.
• The Department of Public Enterprises is the Nodal Government agency to issue guidelines and regulation for the various state-owned CPSEs in India.
• The DPE also makes policies and guidelines for the performance evaluation and improvement of the PSUs/ CPSEs.
• The government grants the status of Maharatna, Navratna, and Miniratna to Public Sector Undertakings (PSUs) and Central Public Sector Enterprises (CPSEs) based upon the profit made by these enterprises.
Mains Paper 3: Economy | Effects of liberalization on the economy, changes in industrial policy & their effects on industrial growth
Prelims level: NPCC
Mains level: Contribution of India’s PSUs