Indian Renewable Energy Development Agency (IREDA) achieves a significant milestone as it attains ‘Navratna’ status from the Department of Public Enterprises.IREDA was set up in 1987 as a non-banking financial institution, it operates under the Ministry of New and Renewable Energy and promotes and develops projects related to renewable energy sources.Navratna Privileges: Firms with Navratna status can undertake investments up to Rs 1,000 crore without central authority approval, allocate 30% of net worth annually, and engage in joint ventures and overseas subsidiaries.Qualification Criteria: Companies must attain Miniratna Category-I designation and be listed in Schedule A of CPSEs to qualify for Navratna status.
| Classification of CPSEs | |||
| Category | Beginning | Criteria | Example |
| Maharatna | Maharatna Scheme for CPSEs was launched in May 2010 to empower mega CPSEs to expand their operations and emerge as global giants. | Companies should get Navratna status.The company must be listed on the Indian stock exchange with minimum prescribed public shareholding under the regulations of Securities Exchange Board of India (SEBI).The average annual turnover during the last three years should be more than Rs 25,000 crore.Average Annual Net Worth in the last three years should be more than Rs 15,000 crore.The average annual net profit of the last three years should be more than Rs 5,000 crore.Companies should have a significant presence in the international market in the field of business. | Bharat Heavy Electricals Limited, Bharat Petroleum Corporation Limited, Coal India Limited, GAIL (India) Limited, etc. |
| Navratna | Navratna Scheme was launched in the year 1997 to identify those CPSEs that have comparative advantages in their respective sectors and support them in their drive to become global actors. | CPSEs falling under Miniratna Category – I and Schedule ‘A’, which have obtained ‘Excellent’ or ‘Very Good’ rating under the MoU system in three of the last five years and have a score of 60 or more in six performance parameters Have obtained overall score. These six criteria are:net capital and net profitTotal cost of manpower relative to total cost of productionCompany’s profit before depreciation, tax and interest on working capitalTax levied on profits and net sales before interest paymentsearning per shareinter-regional display | Bharat Electronics Limited, Hindustan Aeronautics Limited, etc. |
| miniratna | Miniratna Scheme was launched in the year 1997 in pursuance of the policy objective of making the public sector more efficient and competitive and providing greater autonomy and delegation of powers to profit making public sector enterprises. | Miniratna Category-1: To obtain Miniratna Company Category 1 status, it is necessary that the company has earned continuous profit for the last three years and has earned a net profit of at least Rs 30 crore once in three years.Miniratna Category-2: CPSEs which have earned continuous profits for the last three years and have positive net worth are eligible for Miniratna-II status. | Category-1: Airports Authority of India, Antrix Corporation Limited, etc. Category-2: Artificial Limbs Manufacturing Corporation of India (ALIMCO), Bharat Pumps and Compressors Limited (BPCL), etc. |