Status of Indian Government Companies.
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
Historical symbolism :-
Originally, the term Navaratna meant a talisman or ornament composed of nine precious gems. Later, this symbology was adopted in the courts of Emperor Vikramaditya and the Mughal emperor Akbar, where the Navaratnas were a group of nine extraordinary men in their respective courts.
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. 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.
The six criteria for eligibility as Maharatna are:
1. Having Navratna status.
2. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
3. An average annual turnover of more than Rs. 20,000 crore during the last 3 years. Earlier it was Rs 25,000 Crore.
4. An average annual net worth of more than Rs. 10,000 crore during the last 3 years. Earlier it was Rs. 15,000 crore.
5. An average annual net profit after tax of more than Rs. 2500 crore during the last 3 years. Earlier it was Rs. 5000 crore.
6. Should have significant global presence/international operations.
List of Indian Maharatnas :-
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. The number of PSEs having Navratna status has been raised to 16, the most recent addition being Oil India Limited.
List of Navratna CPSEs :-
1. Bharat Electronics Limited.
2. Bharat Heavy Electricals Limited.
3. Bharat Petroleum Corporation Limited.
4. GAIL (India
5. Hindustan Aeronautics Limited.
6. Hindustan Petroleum Corporation Limited.
7. Mahanagar Telephone Nigam Limited.
8. National Aluminium Company Limited.
9. National Mineral Development Corporation Limited.
10.Neyveli Lignite Corporation Limited.
11. Oil India Limited.
12.Power Finance Corporation Limited.
13.Power Grid Corporation of India Limited.
14.Rashtriya Ispat Nigam Limited (Vizag Steel).
15.Rural Electrification Corporation Limited.
16.Shipping Corporation 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 63 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.
| § Airports Authority of § Balmer Lawrie & Co. Limited. § Bharat Dynamics Limited. § BEML Limited. § Bharat Sanchar Nigam Limited. § Bridge & Roof Company ( § Central Warehousing Corporation. § Central Coalfields Limited. § Chennai Petroleum Corporation Limited. § Cochin Shipyard Limited. § Container Corporation of India Limited § Dredging Corporation of India Limited. § Engineers India Limited. § Ennore Port Limited. § Garden Reach Shipbuilders & Engineers Limited. § Goa Shipyard Limited. | § Hindustan Copper Limited. § HLL Lifecare Limited. § Hindustan Newsprint Limited. § Hindustan Paper Corporation Limited. § Housing and Urban Development Corporation. § India Tourism Development Corporation. § Indian Railway Catering and Tourism Corporation. § IRCON International. § Kudremukh Iron Ore Company Ltd. § Mazagon Dock Limited. § Mahanadi Coalfields Limited. § MOIL Limited. § Mangalore Refinery and Petrochemicals Limited. § Mishra Dhatu Nigam. § Minerals and Metals Trading Corporation of § MSTC Limited. | § National Fertilizers Limited. § National Seeds Corporation. § Pawan Hans Helicopters. § NHPC Limited. § Northern Coalfields Limited. § Numaligarh Refinery Limited. § Rashtriya Chemicals & Fertilizers Limited. § Satluj Jal Vidyut Nigam. § Security Printing and Minting Corporation of India Limited. § South Eastern Coalfields Limited. § State Trading Corporation of India Limited. § Tehri Hydro Development Corporation Limited. § Telecommunications Consultants ( § Western Coalfields Limited. § Water & Power Consultancy ( |
Category II
This category include those PSEs which have made profits for the last three years continuously and should have a positive net worth. Category II miniratnas have autonomy to incurring the capital expenditure without government approval up to Rs. 250 crore or up to 50% of their net worth whichever is lower.
50. Bharat Pumps & Compressors Limited.
51. Broadcast Engineering Consultants (I) Limited.
52. Central Mine Planning & Design Institute Limited.
53. Ed.CIL (India
54. Engineering Projects (India
55. FCI Aravali Gypsum & Minerals India Limited.
56. Ferro Scrap Nigam Limited.
57. HMT (International) Limited.
58. HSCC (India
59. India
60. Indian Medicines & Pharmaceuticals Corporation Limited.
61. M E C O N Limited.
62. National Film Development Corporation Limited.
63. National Small Industries Corporation Limited.
64. P E C Limited.
65. Rajasthan Electronics & Instruments Limited.
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