All Central Public Sector Enterprises (CPSEs) function under the administrative jurisdiction of concerned Ministry/Department. The Board of Directors of a CPSE is responsible for regular review of performance of the concerned CPSE, inter-alia, to assess the status of technological standards of the company and to decide on steps to be taken for adoption of latest technologies for reducing cost of production as well as enhancing output/productivity of the company as per its operational needs and business plans, with the approval of the competent authority.
The Department of Public Enterprises has implemented Maharatna, Navratna and Miniratna scheme for CPSEs under which the Boards of such CPSEs are 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.
This information was given by the Minister of Heavy Industries & Public Enterprises, Prakash Javadekar, in a written reply in the Rajya Sabha today.
