Ordnance Factory Board EMPOWER IAS

Ordnance Factory Board

In news:

• Govt to set up committee to study corporatisation of Ordnance Factory Board

 

Important facts:

• The Government is set to form a high level committee to examine the aspects of corporatisation of the Ordnance Factory Board (OFB) and work out the modalities.
• The committee will recommend changes required at making the (a)OFB accountable and efficient (b)increase their production capacity and (c)ensure timely supply of products.
• This committee was formed as OFB with 41 factories functions under the Department of Defence Production.Due to this every decision and action needs the approval of the Cabinet.

 

Ordnance Factory Board (OFB):

• Ordnance Factory Board (OFB) consisting of the Indian Ordnance Factories is a defense contractor owned by the Indian government.It is the world’s largest government-operated production organisation.
• OFB predates all the other organisations like the Indian Army and the Indian Railways by over a century.
• The first Indian ordnance factory can trace its origins back to the year 1712 when the Dutch Company established a GunPowder Factory in Ichapur,West Bengal.

 

Source)

https://www.thehindu.com/news/national/govt-to-set-up-committee-to-study-corporatisation-of-ordnance-factory-board/article29214555.ece