The central government has granted Navratna status to four of its companies -- Satluj Jal Vidyut Nigam, National Hydroelectric Power Corporation (NHPC), Solar Energy Corporation of India, and Railtel Corporation of India, Department of Public Enterprises said in X posts.
Finance Minister Nirmala Sitharaman has approved the upgradation of these companies as Navratnas. With the latest addition, the country now has 25 state-owned Navratna companies.
Railtel Corporation of India is a state-owned company with an annual turnover of Rs 2,622 crores and a net profit of Rs 246 crores for the financial year 2023-24. Solar Energy Corporation of India had an annual turnover of Rs 13,035 crores and a net profit of Rs 436 crore for 2023-24.
NHPC had an annual turnover of Rs 8,405 crore and a net profit of Rs 3,744 crore for 2023-24. Satluj Jal Vidyut Nigam had an annual turnover of Rs 2,833 crore and a net profit of Rs 908 crore for 2023-24.
The grant of 'Navratna' status typically leads to an enhanced delegation of powers, more operational freedom, and financial autonomy which will give huge impetus to these companies.
The Navratna companies have the autonomy to invest up to Rs 1,000 crore without seeking approval from the central government.
The other Navratna companies are Bharat Electronics, Container Corporation of India, Engineers India, Hindustan Aeronautics, Mahanagar Telephone Nigam, National Aluminium Company, National Buildings Construction Corporation, Neyveli Lignite Corporation, NMDC, Rashtriya Ispat Nigam, Shipping Corporation of India, Rail Vikas Nigam, ONGC Videsh, Rashtriya Chemicals and Fertilisers, IRCON, RITES, National Fertilisers, Central Warehousing Corporation, Housing and Urban Development Corporation, Indian Renewable Energy Development Agency, and Mazagon Dock Shipbuilders, according to Department of Public Enterprises.
The Department of Public Enterprises (DPE) is the nodal department for all the Central Public Sector Enterprises (CPSEs) and formulates policy about CPSEs. (ANI)
