CCEA approves Closure of Bharat Wagon and Engineering Company

Posted on:24 Aug 2017 11:29:14
CCEA approves Closure of Bharat Wagon and Engineering Company
24 August 2017 Current Affairs: The Cabinet Committee on Economic Affairs by the Prime Minister Shri Narendra Modi approved the proposal of Ministry of Railways to close the Bharat Wagon and Engineering Company Limited (BWEL) - a Central Public Sector Enterprise (CPSE) under Ministry of Railways. 

The CCEA decision will stop the flow of financial support from public funds for carrying on the operations of BWEL Resulting in savings.

The Company was referred to BIFR (Board for Industrial and Financial Reconstruction) in December 2000 and was declared sick in the year 2002. 

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