Cabinet approves enhanced delegation to POWERGRID from the extant guidelines on delegation of powers to Maharatna CPSEs for increasing equity investment threshold from Rs.5000 crore per subsidiary to Rs.7500 crore per subsidiary

India, Feb. 24 -- The Government of India has issued a release:

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, today hasapproved enhanced delegation to POWERGRID under the extant guidelines dated 4thFebruary, 2010 of the Department of Public Enterprises (DPE) on delegation of powers applicable to Maharatna CPSEs. The approval enhances the permissible equity investment limit of POWERGRID from the current threshold of Rs.5,000 crore per subsidiary to Rs.7,500 crore per subsidiary, while retaining the existing cap of 15% of the company's net worth.

The approval will enable POWERGRID, the largest and most experienced transmission service provider in the country, to expand its investment in its cor...