Garden Reach Shipbuilders bags $54-million German order for four more cargo vessels. Govt upgrades Garden reach from B to A category
Now ,There is going to be fire in belly of PSU’s to perform or perish. Recently, there is a policy change with respect to PSU functioning and performance monitoring. The finance ministry would monitor each and every PSU for accountability for its performance and upgrade or down grade a PSU. The grading is in to 4 buckets- A,B,C,D- A is highest and D is lowest. The salary of the board members would depend upon some qualitative and quantitative parameters such as Revenue / execution of orders, profit before tax, Share price in the market , capacity addition and winning competitive orders.
The classification of PSU Maharatna , Nava ratna , Mini Ratna would still continue which would give them financial power to invest , add capacity and decision making ability. This means that even a Maharatna or Navratns company can be downgraded.