Navratna Status Planned for Four Miniratna CPSEs
Why in the news
The Finance Ministry readied a move to raise four high-performing public sector firms to the Navratna category, to boost their autonomy and global competitiveness.
CPSEs named
| Company | Base |
|---|---|
| Cochin Shipyard Limited (CSL) | Kochi, Kerala |
| Goa Shipyard Limited (GSL) | Goa |
| Garden Reach Shipbuilders & Engineers Ltd (GRSE) | Kolkata, West Bengal |
| MOIL Limited | Nagpur, Maharashtra |
About the Navratna scheme
- Launched in 1997 by the Government of India.
- Objective: spot and empower CPSEs with global potential.
- Benefit: more financial and administrative autonomy.
- Powers over capital expenditure, strategic investments and mergers and acquisitions.
- Freedom in human resource management and in forming joint ventures.
Exam angle
- Promotion path: Miniratna to Navratna.
- Scheme year: 1997.
- Two of the four are shipbuilders in Kochi and Kolkata; MOIL is in Nagpur.