Navratna was the title given originally to nine Public Sector Enterprises (PSEs), identified

by the Government of India in 1997 as its most prestigious, which allowed them greater
autonomy to compete in the global market. [1] The number of PSEs having Navratna status has
been raised to 19, [2] the most recent addition being Oil India Limited.

PSU companies are divided into three categories:

 Maharatna
 Navratna
 Miniratna CPSEs
o Category I
o Category II

Contents:
1. Historical symbolism
2. Maharatna status
3. Navratna status
4. Miniratnas status
5. See also
6. References
7. External links

1. 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 King Vikramaditya and the Mughal
emperor Akbar, where the Navaratnas were a group of nine extraordinary men in their
respective courts.

2. 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 would
now be free to decide on investments up to 15 per cent of their net worth in a project.

Earlier, the Navaratna companies could invest up to Rs 1,000 crore without government
approvals.

2. 1. Criteria

In order to qualify as a Maharatna, the process is bottoms up. This means the lowest
employee should be proud of his/her company and contribute to the same according to the
global standards.

2. 2. List of Maharatna

The incumbents of this group as of 30.09.2010 are:

1. Indian Oil Corporation

 2. NTPC Limited
3. Oil and Natural Gas Corporation
4. Steel Authority of India Limited

3. Navratna status

The Navratna status is offered to PSEs, which gives a company enhanced financial and
operational autonomy and empowers it to invest up to Rs. 1000 crore or 15% of their net
worth on a single project without seeking government approval. In a year, these companies
can spend up to 30% of their net worth not exceeding Rs. 1000 cr. They will also have the
freedom to enter joint ventures, form alliances and float subsidiaries abroad.

3. 1. Criteria

Navratna status is conferred by Department of Public Enterprises. To be qualified as a

Navratna, the company must obtain a score of 60 (out of 100). The score is based on six
parameters which include net profit to net worth, total manpower cost to total cost of
production or cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes) to
capital employed, PBDIT to turnover, EPS (Earning Per Share) and inter-sectoral
performance. Additionally, a company must first be a Miniratna and have four independent
directors on its board before it can be made a Navratna. [4]

3. 2. List of Navratnas

The original list of 1997 included ECIL, BHEL, BPCL, HPCL, IOC, IPCL, NTPC, ONGC,
SAIL and VSNL, of which Indian Petrochemicals Corporation Limited (IPCL) and Videsh
Sanchar Nigam Ltd (VSNL) were later privatised. GAIL and MTNL joined the list in
November 1997. [5] In June 2007 the government awarded the coveted status to three more
PSEs: BEL, HAL and Power Finance Corporation (PFC).

The incumbents of this group as of 16.11.2010 are: [6]

1. Bharat Electronics Limited

2. Bharat Heavy Electricals Limited
3. Bharat Petroleum Corporation Limited
4. Coal India Limited
5. GAIL (India) Limited
6. Hindustan Aeronautics Limited
7. Hindustan Petroleum Corporation Limited
8. Mahanagar Telephone Nigam Limited
9. National Aluminium Company Limited
10. NMDC Limited
11. Oil India Limited
12. Power Finance Corporation Limited
13. Power Grid Corporation of India Limited
14. Rural Electrification Corporation Limited
15. Shipping Corporation of India Limited
16. Vishakapatnam Steel Plant
4. Miniratnas status

In addition, the government created another category called Miniratna. Miniratnas can also
enter into joint ventures, set subsidiary companies and overseas offices but with certain
conditions. In 2002, there were 61 government enterprises that were awarded Miniratna
status.However, at Present, there are 42 government enterprises that were awarded Miniratna
status.

4. 1. Category I

This designation applies to PSEs that have made profits continuously for the last three years
or earned a net profit of Rs. 30 crore or more in one of the three years. These miniratnas
granted certain autonomy like incurring capital expenditure without government approval up
to Rs. 500 crore or equal to their net worth, whichever is lower.

 Airport Authority of India

 Balmer Lawrie & Co. Limited
 Bharat Dynamics Limited
 BEML Limited
 Bharat Sanchar Nigam Limited
 Bridge & Roof Company (India) Limited
 Central Warehousing Corporation
 Central Coalfields Limited
 Chennai Petroleum Corporation Limited
 Cochin Shipyard Limited
 Container Corporation of India Limited
 Dredging Corporation of India Limited
 Engineers India Limited
 Ennore Ports Limited
 Garden Reach Shipbuilders & Engineers Limited
 Goa Shipyard Limited

 Hindustan Copper Limited

 Hindustan Latex Limited
 Hindustan Newsprint Limited
 Hindustan Paper Corporation Limited
 Housing and Urban Development Corporation
 India Tourism Development Corporation
 Indian Railway Catering and Tourism Corporation
 IRCON International
 Kudremukh Iron Ore Company Ltd.
 Mazagon Dock Limited
 Mahanadi Coalfields Limited
 MOIL Limited
 Mangalore Refinery and Petrochemicals Limited
 Mishra Dhatu Nigam
 Minerals and Metals Trading Corporation of India
 MSTC Limited
  National Fertilizers Limited
 National Seeds Corporation
 Neyveli Lignite Corporation
 NHPC Limited
 Northern Coalfields Limited
 Numaligarh Refinery Limited
 Rashtriya Chemicals & Fertilizers Limited
 RITES Limited
 Satluj Jal Vidyut Nigam
 Security Printing and Minting Corporation of India Limited
 South Eastern Coalfields Limited
 State Trading Corporation of India Limited
 Tehri Hydro Development Corporation Limited
 Telecommunications Consultants (India) Limited
 Western Coalfields Limited
 Water & Power Consultancy (India) Limited

4. 2. Category II

This category include those PSEs which have made profits for the last three years
continuously and should have a positive net worth. Category II miniratnas have autonomy to
incurring the capital expenditure without government approval up to Rs. 300 crore or up to
50% of their net worth whichever is lower.

50. Bharat Pumps & Compressors Limited

51. Broadcast Engineering Consultants (I) Limited

52. Central Mine Planning & Design Institute Limited

53. Educational Consultants (I) Limited

54. Engineering Projects (I) Limited

55. Ferro Scrap Nigam Limited

56. HMT (International) Limited

57. HSCC (India) Limited

58. India Trade Promotion Organization

59. Indian Medicines Pharmaceuticals Corporation Limited

60. M E C O N Limited

61. National Film Development Corporation Limited

62. P E C Limited
63. Rajasthan Electronics & Instruments Limited

5. See also
Bharat Pumps' revamp plan in place

Special Correspondent

NEW DELHI: The Union Heavy Industries Minister, Santosh Mohan Dev, and Petroleum and Natural Gas Minister, Murli Deora, on Wednesday announced that a revival package for
Bharat Pumps and Compressors Limited (BPCL) had been approved by the Government to ensure its long-term sustainability.

Mr. Deora, who long with Mr. Dev visited the company at Allahabad on Wednesday, said that the cash infusion in the company included Rs. 20 crore by Bharat Heavy Electricals
Limited (BHEL) and Rs. 150 crore by Oil and Natural Gas Corporation (ONGC). The package also includes waiver of outstanding liabilities of Rs. 150 crore and restructuring of the
board of directors by including professionals from BHEL, ONGC and Engineers India Limited (EIL). Mr. Deora also enquired about the problems, if any, being faced by BPCL in
respect of the petroleum sector.

The Petroleum Minister said ONGC would provide the required advance against supplies to be made by BPCL, including advance payment for next year's projected supplies, if
needed.