India Grants Navratna Status to Four Companies
New Delhi, August 30
The central government has awarded Navratna status to four state-owned companies: Satluj Jal Vidyut Nigam Ltd, National Hydroelectric Power Corporation Ltd (NHPC), Solar Energy Corporation of India Ltd, and Railtel Corporation of India Ltd. This announcement was made by the Department of Public Enterprises.
Approval by Finance Minister
Finance Minister Nirmala Sitharaman approved the upgrade of these companies to Navratna status. With this addition, India now has 25 Navratna companies.
Company Financials
| Company | Annual Turnover (2023-24) | Net Profit (2023-24) |
|---|---|---|
| Railtel Corporation of India Ltd | Rs 2,622 crores | Rs 246 crores |
| Solar Energy Corporation of India Ltd | Rs 13,035 crores | Rs 436 crores |
| NHPC | Rs 8,405 crores | Rs 3,744 crores |
| Satluj Jal Vidyut Nigam Ltd | Rs 2,833 crores | Rs 908 crores |
Benefits of Navratna Status
Navratna status grants these companies more operational freedom and financial autonomy, allowing them to invest up to Rs 1,000 crore without needing central government approval.
Other Navratna Companies
Other Navratna companies include Bharat Electronics Limited, Container Corporation of India Limited, Engineers India Limited, Hindustan Aeronautics Limited, and many more.
Role of the Department of Public Enterprises
The Department of Public Enterprises (DPE) is responsible for formulating policies for all Central Public Sector Enterprises (CPSEs).
Doubts Revealed
Navratna Status -: Navratna Status is a special recognition given by the Indian government to certain public sector companies. It allows these companies more freedom in making decisions and managing their finances.
NHPC -: NHPC stands for National Hydroelectric Power Corporation. It is an Indian company that generates electricity using water (hydropower).
Railtel -: Railtel Corporation of India Ltd is a company that provides internet and telecom services, mainly for Indian Railways.
Satluj Jal Vidyut Nigam -: Satluj Jal Vidyut Nigam Ltd is a company that generates electricity using water (hydropower) from the Satluj River.
Solar Energy Corporation of India Ltd -: Solar Energy Corporation of India Ltd is a company that focuses on generating electricity using solar power.
Nirmala Sitharaman -: Nirmala Sitharaman is the Finance Minister of India. She is responsible for managing the country’s finances and economic policies.
Department of Public Enterprises -: The Department of Public Enterprises is a part of the Indian government that makes rules and policies for government-owned companies.
Central Public Sector Enterprises -: Central Public Sector Enterprises are companies owned by the Indian government. They work in various sectors like energy, telecom, and transportation.
