Miniratna Status Granted to Two CPSEs

         The Union Minister for Heavy Industries & Public Enterprises, Sh. Vilasrao Deshmukh today conferred Miniratna status on two Central Public Enterprises – Bharat Pumps & Compressor Ltd and Bridge & Roof Company (I) Ltd. The Secretary, Department of Heavy Industries Sh. B.S.Meena, Chairman and Managing Director of Bharat Pumps & Compressor Ltd. Sh. Abhay Kumar Jain, CMD of Bridge & Roof Company (I) Ltd. Sh. Mukesh Jha and senior officials of the Department of Heavy Industries were present on the occasion. 

         The Bridge and Roof Company (I) Ltd. was granted the Miniratna status in Category –I and the Bharat Pumps & Compressor Ltd. was granted the Category II status. As per the criteria to get the category I status, the CPSE should have made profit in the last three years continuously, the pre-tax profit should have been Rs. 30 crores or more in at least one of the three years and should have a positive net worth. For category II, the CPSE should have made profit for the last three years continuously and should have a positive net worth. 

            While addressing the gathering, the Union Minister Sh. Vilasrao Deshmukh said achieving the status of Mini Ratna is significant for the CPSEs, because it allows them substantial, financial and operational autonomy. He said the various restrictions like joint venture, recruitment, appointment, promotions now have been removed and enhanced powers delegated to both Miniratnas. 

Rate of monthly subscription and insurance cover under CGEGIS-1980 for erstwhile Group 'D' employees placed in PB-1, Grade Pay Rs.1800/- and classified as Group 'C'

No.7(1)/EV/2008
Government of India
Ministry of Finance
Department of Expenditure
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New Delhi, Dated 10th September, 2010

Office Memorandum

Subject:    Rate of monthly subscription and insurance cover under CGEGIS-1980 for erstwhile Group 'D' employees placed in PB-1, Grade Pay Rs.1800/- and classified as Group 'C'.

      The undersigned is directed to invite the attention of all Ministries/Departments of the Central Government to this Ministry's O.M. No.F.7(5)-EV/89 dated 15th May, 1989 updating the Central Government Employees Group Insurance Scheme, 1980.

2.       The 6th Central Pay Commission in para 4.9.4. of its report has recommended that the rate of monthly subscription and the amount of insurance cover under the Central Government Employees Group Insurance Scheme (CGEGIS) should be enhanced 6 times. The Commission has also recommended up-gradation of Group D in the Government with all existing Group D employees being upgraded and placed in the entry grade of Group C. Accordingly, no separate slab for Group D has been recommended.

3.       In view of the recommendations of 6th CPC, Department of Personnel &Training vide notification dated 9/4/2009 has classified the posts carrying the Grade Pay of 1800/- as Group C.

4.       Therefore, it has been decided to enhance the monthly subscription towards CGEGIS and insurance coverage to the erstwhile Group 'D' employees placed in PB-1 with Grade Pay of 1800 and classified as Group 'C', @ '30/- per month from 1st January of the next calendar year i.e. January, 2011.



(Manoj Sahay)
Director

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