New Delhi [India], August 30 : The central government has granted Navratna status to four of its companies Satluj Jal Vidyut Nigam Ltd, National Hydroelectric Power Corporation Ltd (NHPC), Solar Energy Corporation of India Ltd, and Railtel Corporation of India Ltd, 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 Ltd 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 Ltd 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 Ltd 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 Limited, Container Corporation of India Limited, Engineers India Limited, Hindustan Aeronautics Limited, Mahanagar Telephone Nigam Limited, National Aluminium Company Limited, National Buildings Construction Corporation Limited, Neyveli Lignite Corporation Limited, NMDC Limited, Rashtriya Ispat Nigam Limited, Shipping Corporation of India Limited, Rail Vikas Nigam Limited, ONGC Videsh Ltd, Rashtriya Chemicals and Fertilizers Limited, IRCON, RITES, National Fertilizers Limited, Central Warehousing Corporation, Housing and Urban Development Corporation Limited, Indian Renewable Energy Development Agency Limited, and Mazagon Dock Shipbuilders Limited, 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.
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