Navratna
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
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
References: 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