New Delhi, Feb. 24 -- The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi has approved enhanced delegation of powers to Power Grid Corporation of India Ltd (POWERGRID) under existing guidelines for Maharatna Central Public Sector Enterprises (CPSEs).

The decision raises the permissible equity investment limit per subsidiary from Rs 5,000 crore to Rs 7,500 crore, while retaining the overall cap of 15 per cent of the company's net worth, in line with Department of Public Enterprises guidelines dated 4 February 2010.

The enhanced delegation is expected to strengthen POWERGRID's capacity to invest in its core transmission business and support evacuation of renewable energy, contributing to India's targe...