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of <h1>India Approves Policy for CPSEs to Acquire Overseas Raw Material Assets, Boosting Manufacturing Sector Development.</h1> The Government of India has approved a policy for Central Public Sector Enterprises (CPSEs) to acquire raw material assets overseas, aimed at supporting the manufacturing sector. This policy, initiated in October 2011, seeks to streamline decision-making for such acquisitions. According to the Public Enterprise Survey 2010-11, CPSEs collectively held a cash and bank balance of Rs. 284,153 crores as of March 31, 2011. Investment decisions regarding surplus funds for projects, expansions, and joint ventures are made by the CPSEs' boards based on their corporate strategies. This information was provided by the Minister of State for Finance in a written response to the Rajya Sabha.
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