Categories: National

Govt sets up Empowered Group of Ministers to oversee OFB’s Corporatisation

Central Government has constituted an Empowered Group of Ministers (EGoM) to oversee the process of the corporatisation of the Ordnance Factory Board (OFB). Defence Minister Rajnath Singh is the chairman of this EGoM. As part of the “Aatmanirbhar Bharat” (self-reliant India) initiative, the government had announced on May 16 that it would improve the autonomy, accountability and efficiency in ordnance supplies by converting the OFB, which is a subordinate office of the defence ministry, into one or more government-owned corporate entities.

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About Empowered Group of Ministers (EGoM):

  • EGoM will “oversee and guide the entire process of corporatisation, including transition support and redeployment plan of employees while safeguarding their wages and retirement benefits”.
  • The ordnance factories form an integrated base for indigenous production of defence hardware and equipment.
  • Corporatization is the process of transforming state assets, government agencies, or municipal organizations into corporations.
  • The OFB has 41 factories under it to produce ordnance for the country’s armed forces.

     

Adda247 Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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