4 new names have been added to the prestigious list of Navratna companies of the Central Government. The Finance Ministry has given Navratna status to a total of 4 new companies including 3 government companies of the power sector. With this, the list of Navratna companies has now increased to 25.
These 4 companies got entry in Navratna
The 4 new companies to which Finance Minister Nirmala Sitharaman has given the status of Navratna include 3 government companies of the power sector – Satluj Jal Vidyut Nigam Limited, Solar Energy Corporation of India Limited and National Hydroelectric Power Corporation Limited. Apart from them, Railtel Corporation of India Limited has also been given the status of Navratna.
These companies already have Navratna status
Till now, 21 companies of the Central Government were included in the Navratnas. With the addition of 4 new companies, the list has increased to 25. The companies already included in the list of Navratnas are Bharat Electronics, Container Corporation of India, Engineers India, Hindustan Aeronautics, Mahanagar Telephone Nigam, National Aluminium Company, National Building Construction Corporation, Neyveli Lignite Corporation, NMDC, Rashtriya Ispat Nigam, Shipping Corporation of India, Rail Vikas Nigam, ONGC Videsh Limited, National Chemicals and Fertilizers, IRCON, RITES, National Fertilizers, Central Warehousing Corporation, HUDCO, IREDA.
Names of these companies in the category of Maharatna
Government companies are divided into three categories ‘Maharatna, Navaratna and Miniratna’. First comes the name of Maharatna companies, whose list currently includes 13 central undertakings. The names of the government’s Maharatna companies include BHEL, BPCL, Coal India, GAIL, HPCL, IOCL, NTPC, ONGC, Power Finance Corporation, Power Grid Corporation of India, SAIL, REC and Oil India.
These are the benefits of getting the status of Navratna
Only those companies are included in Navratna which are already included in Miniratna category. To upgrade to this category, 6 parameters have been fixed including profit, total assets, turnover. After getting the status of Navratna, the government provides more independence to the concerned government companies. After getting the status, the board of the concerned companies gets more financial power than before.
Also read: Government companies distributed Rs 1.5 lakh crore, filled the pockets of investors
