Inputs by Aryaa Sinha
The word Ratna means gem.
The term Navratna comes from the courts of Indian kings. Ashoka was rumoured to have 9 wise men as his Council. Akbar’s court also had the Navratnas – the nine gems, that formed the inner council.
This is a brief on the Central Public Sector Enterprises (CPSEs)
Government owned companies in various sectors that perform well on certain parameters are given Ratna status, which leads to enhanced delegation of powers, more operational freedom, financial autonomy, better access to resources, etc.
Government of India categorises these CPSEs under 3 categories: Maharatna, Navratna, and Miniratna .
A wide range of factors determines this categorisation. Some of the factors are annual turnover, net worth, net profit, etc.
Maharatna
It was introduced by CPSEs in 2010 to empower mega CPSEs to expand their operations and emerge as global giants.
A company must be a Navratna before it can be designated a Maharatna.
As of November 2022, we have 12 companies designated as Maharatnas.
- Bharat Heavy Electricals Limited
- Bharat Petroleum Corporation Limited
- Coal India Limited
- GAIL India Limited
- Hindustan Petroleum Corporation Limited
- Indian Oil Corporation Limited
- NTPC Limited
- Oil & Natural Gas Corporation Limited,
- Power Finance Corporation
- Power Grid Corporation of India Limited
- Rural Electrification Corporation Limited
- Steel Authority of India Limited
Navratna
This status was introduced in 1997. The Navaratna status is given to PSEs that are considered to be the best-performing and most profitable among all the PSEs in India.
- 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
- Oil India Limited
- Rashtriya Ispat Nigam Limited
- Shipping Corporation of India Limited
- Rail Vikas Nigam Limited
Miniratnas
The Miniratna status was also introduced by Government of India in 1997. In this, the government decides to grant further financial powers to certain companies that make decent profits. Miniratnas are further divided into Category I and Category II.
As per the release by the Ministry in November 2022, there are 62 companies in Category I and 12 in Category II.
Some Miniratna companies are: Airport Authority of India, Artificial Limbs Manufacturing Corporation of India, etc.
What does the “Ratna “status mean?
The word Ratna means gem.
CPSEs in various sectors that perform well on certain parameters are given Ratna status , which leads to enhanced delegation of powers, more operational freedom, financial autonomy, better access to resources, etc .
Government of India categorises these CPSEs under 3 categories: Maharatna , Navratna, and Miniratna .
A wide range of factors determines this categorisation. Some of the factors are annual turnover, net worth, net profit, etc.
Maharatna
It was introduced by CPSEs in 2010 to empower mega CPSEs to expand their operations and emerge as global giants.
A company must be a Navratna before it can be designated a Maharatna.
As of November 2022, we have 12 companies designated as Maharatnas.
- Bharat Heavy Electricals Limited
- Bharat Petroleum Corporation Limited
- Coal India Limited
- GAIL India Limited
- Hindustan Petroleum Corporation Limited
- Indian Oil Corporation Limited
- NTPC Limited
- Oil & Natural Gas Corporation Limited,
- Power Finance Corporation
- Power Grid Corporation of India Limited
- Rural Electrification Corporation Limited
- Steel Authority of India Limited
Navratna
It was introduced in 1997. The Navaratna status is given to PSEs that are considered to be the best-performing and most profitable among all the PSEs in India.
- 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
- Oil India Limited
- Rashtriya Ispat Nigam Limited
- Shipping Corporation of India Limited
- Rail Vikas Nigam Limited
Miniratnas
The Miniratna status was also introduced by Government of India in 1997. In this, the government decides to grant further financial powers to certain companies that make decent profits. Miniratnas are further divided into Category I and Category II.
As per the release by the Ministry in November 2022, there are 62 companies in Category I and 12 in Category II.
Some Miniratna companies are: Airport Authority of India, Artificial Limbs Manufacturing Corporation of India, etc.
You can find more information about the government owned companies on the dashboard.
One Reply to “What does the “Ratna “status mean?”
Comments are closed.