New Delhi, Feb. 24 -- The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved enhanced delegation of powers to Power Grid Corporation of India Limited (POWERGRID), increasing its permissible equity investment limit in subsidiaries from Rs 5,000 crore to Rs 7,500 crore per subsidiary.
Announcing the decision, Information and Broadcasting Minister Ashwini Vaishnaw said the move was cleared under the existing guidelines dated February 4, 2010, issued by the Department of Public Enterprises (DPE) for Maharatna Central Public Sector Enterprises (CPSEs).
"The enhanced delegation will empower POWERGRID to make larger equity investments in its subsidiaries, enabling it to expand in its core transmission business and support India's c...