Maniratna status for GRSE and Bharat Earth Movers

Kolkata, Sep 6 (UNI) Defence Public Sector Undertaking Garden Reach Shipbuilders and Engineers(GRSE) Limited and Bharat Earth Movers Ltd have achieved the status of Miniratna Category-1 companies to be eligible for more autonomy.

These Defence public sector organisations made profits for the past three years and fulfilled various norms prescribed by the Department of Public Enterprise, an official release said.

The Maniratna status grants more autonomy to these companies and empowers them to incur capital expenditure on new projects, modernisation, purchase of equipment and joint ventures without Government approval.

UNI KDG SJC KLC1759