Navratna
was the title given originally to nine Public Sector Enterprises (PSEs)
identified by the Government of India in 1997 as "public sector companies
that have comparative advantages", giving them greater autonomy to compete
in the global market so as to "support [them] in their drive to become
global giants". The number of PSEs having Navratna status has been raised
to 16, the most recent addition being Oil India Limited.
PSU
companies are divided into three categories:
Maharatna
Navratna
Miniratna
CPSEs
Category
I
Category
II
Maharatna Status
In
2009, the government established the Maharatna status, which raises a company's
investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.[3] The Maharatna
firms can now decide on investments of up to 15 per cent of their net worth in
a project; the Navaratna companies could invest up to Rs 1,000 crore without
explicit government approval.
Criteria:-
The
six criteria for eligibility as Maharatna are:
·
Having Navratna
status.
·
Listed on Indian
stock exchange with minimum prescribed public shareholding under SEBI
regulations.
·
An average annual
turnover of more than Rs. 20,000.[4] crore during the last 3 years. Earlier it
was Rs 25,000 Crore.
·
An average annual
net worth of more than Rs. 10,000[4] crore during the last 3 years. Earlier it
was Rs. 15,000 crore.
·
An average annual
net profit after tax of more than Rs. 2500 crore during the last 3 years. Earlier
it was Rs. 5000 crore.
·
Should have
significant global presence/international operations.
(The
earlier criteria stands as on date, as the order modifying the criteria was
later withdrawn. But, needs confirmation)
List of Maharatna
1. Coal India Limited
2. Indian Oil Corporation Limited
3. NTPC Limited
4. Oil and Natural Gas Corporation Limited
5. Steel Authority of India Limited
Navratna Status
Navratna
was the title given originally to nine Public Sector Enterprises (PSEs),
identified by the Government of India in 1997 as having comparative advantages,
which allowed them greater autonomy to compete in the global market.[1] The
number of PSEs having Navratna status has been raised to 16,[2] The government
is likely to accord the coveted status to Engineers India Limited, which is
under consideration.
List of Navratna
1. Bharat Heavy Electricals Limited
2. Bharat Electronics Limited
3. Bharat Petroleum Corporation Limited
4. Hindustan Aeronautics Limited
5. Hindustan Petroleum Corporation Limited
6. Mahanagar Telephone Nigam Limited
7. National Aluminium Company Limited
8. National Mineral Development Corporation Limited
9. Neyveli Lignite Corporation Limited
10. Oil India Limited
11. Power Finance Corporation Limited
12. Power Grid Corporation of India Limited
13. Rashtriya Ispat Nigam Limited
14. Rural Electrification Corporation Limited
15. Shipping Corporation of India Limited
16. Gas Authority of India Limited
Miniratna Status
In
addition, the government created another category called Miniratna. Miniratnas
can also enter into joint ventures, set subsidiary companies and overseas
offices but with certain conditions. In 2002, there were 61 government
enterprises that were awarded Miniratna status. However, at present, there are
68 government enterprises that were awarded Miniratna status.
Category I
This
designation applies to PSEs that have made profits continuously for the last
three years or earned a net profit of Rs. 30 crore or more in one of the three
years. These miniratnas granted certain autonomy like incurring capital
expenditure without government approval up to Rs. 500 crore or equal to their
net worth, whichever is lower.
1. Projects & Development India
2. Airports Authority of India
3. Antrix Corporation Limited
4. Balmer Lawrie & Co. Limited
5. Bharat Dynamics Limited
6. BEML Limited
7. Bharat Sanchar Nigam Limited
8. Bridge & Roof Company (India
9. Central Warehousing Corporation
10. Central Coalfields Limited
11. Chennai Petroleum Corporation Limited
12. Cochin Shipyard Limited
13. Container Corporation of India Limited
14. Dredging Corporation of India Limited
15. Engineers India Limited
16. Ennore Port Limited
17. Garden Reach Shipbuilders & Engineers Limited
18. Goa Shipyard Limited
19. Hindustan Copper Limited
20. HLL Lifecare Limited
21. Hindustan Newsprint Limited
22. Hindustan Paper Corporation Limited
23. Housing and Urban Development Corporation
24. India Tourism Development Corporation
25. Indian Railway Catering and Tourism Corporation
26. IRCON International Limited
27. Kudremukh Iron Ore Company Limited.
28. Mazagaon Dock Limited
29. Mahanadi Coalfields Limited
30. Manganese Ore India
31. Mangalore Refinery and Petrochemicals Limited
32. Mishra Dhatu Nigam Limited
33. Minerals and Metals Trading Corporation of India
34. MSTC Limited
35. National Fertilizers Limited
36. National Seeds Corporation Limited
37. NHPC Limited
38. Northern Coalfields Limited
39. Numaligarh Refinery Limited
40. ONGC Videsh Limited
41. Pawan Hans Helicopters
42. Rashtriya Chemicals & Fertilizers Limited
43. RITES Limited
44. Satluj Jal Vidyut Nigam
45. Security Printing and Minting Corporation of India
Limited
46. South Eastern Coalfields Limited
47. State Trading Corporation of India Limited
48. Tehri Hydro Development Corporation Limited
49. Telecommunications Consultants (India
50. Western Coalfields Limited
51. Water & Power Consultancy (India
52. RailTel Corporation of India Ltd.
Category-II
53.
Bharat Pumps & Compressors Limited
54.
Broadcast Engineering Consultants (I) Limited
55.
Central Mine Planning & Design Institute Limited
56.
Ed.CIL (India
57.
Engineering Projects (India
58.
FCI Aravali Gypsum & Minerals India Limited
59.
Ferro Scrap Nigam Limited
60.
HMT (International) Limited
61.
HSCC (India
62.
India
63.
Indian Medicines & Pharmaceuticals Corporation Limited
64.
M E C O N Limited
65.
National Film Development Corporation Limited
66.
National Small Industries Corporation Limited
67.
P E C Limited
68. Rajasthan Electronics & Instruments Limited
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