Navratna

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  • Topic: Government-owned companies in India, Oil and gas companies of India, Companies listed on the Bombay Stock Exchange
  • Pages : 5 (1074 words )
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  • Published : May 3, 2013
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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".[1] The number of PSEs having Navratna status has been raised to 16,[2] the most recent addition being Oil India Limited. PSU companies are divided into three categories:

* Maharatna
* Navratna
* Miniratna CPSEs
* Category I
* Category II
Contents * 1 Historical symbolism * 2 Maharatna status * 2.1 Criteria * 2.2 List of Maharatna * 3 Navratna status * 4 Miniratna Status * 4.1 Category I * 4.2 Category II * 5 See also * 6 References * 7 External links| 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.[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. BHEL is elegible for Maharatna status and has also applied for the same. Criteria

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.[4] crore during the last 3 years. Earlier it was Rs 25,000 Crore.[5] 4. 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.[5] 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.[5] 6. Should have significant global presence/international operations.[6] List of Maharatna

1. Coal India Limited [7]
2. Indian Oil Corporation Limited [8]
3. NTPC Limited [9]
4. Oil and Natural Gas Corporation Limited [9]
5. Steel Authority of India limited
6. Bharat Heavy Electricals 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 15,[2] The government is likely to accord the coveted status to Mishra Dhatu Nigam Limited, which is under consideration. List of Navratna

1. Bharat Electronics Limited
2. Bharat Petroleum Corporation Limited
3. Hindustan Aeronautics Limited
4. Hindustan Petroleum Corporation Limited
5. Mahanagar Telephone Nigam Limited
6. National Aluminium Company Limited
7. National Mineral Development Corporation Limited
8. Neyveli Lignite Corporation Limited
9. Oil India Limited
10. Power Finance Corporation Limited
11. Power Grid Corporation of India Limited
12. Rashtriya Ispat Nigam Limited
13. Rural Electrification Corporation Limited
14. Shipping Corporation of India Limited
15. GAIL (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...
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