1. CAPITAL EXPENDITURE (CAPEX) PERFORMANCE
A. Overall Growth
- 24.2% increase in CAPEX compared to previous year
- DPE monitors CAPEX in select CPSEs and organizations
B. Year-wise Analysis
- FY 2022-23
- Estimate: ₹6.45 lakh crore
- Achievement: ₹6.48 lakh crore (>100%)
- FY 2023-24
- Estimate: ₹7.41 lakh crore
- Achievement: ₹8.05 lakh crore (>108%)
- FY 2024-25 (as of 30.11.2024)
- Estimate: ₹7.76 lakh crore
- Achievement: ₹4.41 lakh crore (>57%)
2. UPGRADATION OF CPSEs
A. Maharatna Status
- Newly Added: Hindustan Aeronautics Limited (HAL)
- Date of Status: 12.10.2024
- Significance: Enhanced operational and financial autonomy
B. New Navratna CPSEs
- Energy Sector
- NHPC (Hydroelectric Power)
- Solar Energy Corporation of India Limited
- SJVN Limited
- IREDA (Renewable Energy)
- Infrastructure & Development
- Central Warehousing Corporation
- Housing & Urban Development Corporation Limited
- Railtel Corporation of India Limited
- Manufacturing & Others
- National Fertilizers Limited
- Mazagon Dock Shipbuilders Limited
3. POLICY REFORMS AND GUIDELINES
A. Joint Ventures & Subsidiaries (September 2024)
- Simplified process for establishing:
- Financial Joint Ventures
- Wholly Owned Subsidiaries (WoS)
- Applicable to: Maharatna, Navratna, and Miniratna CPSEs
- Reference: OM dated 17.09.2024
B. CPSE Categorization (May 2024)
- New guidelines for upgrading existing CPSE categories
- Date: OM dated 20.05.2024
- Aim: Streamline categorization process
4. SIGNIFICANCE FOR UPSC
A. Economic Importance
- Demonstrates government’s push for infrastructure development
- Indicates growing autonomy of public sector enterprises
- Shows focus on strategic sectors like defense, energy, and infrastructure
B. Administrative Reforms
- Reflects government’s emphasis on:
- Efficiency in public sector
- Ease of doing business
- Decentralization of power
- Public sector modernization
C. Policy Implementation
- Showcases effective monitoring mechanisms
- Highlights achievement of targets
- Demonstrates successful public sector reforms
5. IMPLICATIONS
A. Economic Growth
- Enhanced CAPEX contributing to infrastructure development
- Improved operational efficiency in public sector
- Greater autonomy leading to faster decision-making
B. Sectoral Development
- Strengthening of strategic sectors
- Focus on renewable energy
- Emphasis on infrastructure development
C. Governance
- Streamlined decision-making processes
- Enhanced operational autonomy
- Better monitoring mechanisms
Important Points for Prelims
- Latest Maharatna addition: HAL
- Number of new Navratna companies: 9
- CAPEX growth: 24.2%
- Key sectors: Energy, Infrastructure, Manufacturing
- Major policy reforms: JV establishment, CPSE categorization
