The government of India has upgraded the status of the Central Government Public Sector Enterprise (CPSE) and SJVN limited from Mini Ratna Category-1 to Navratna status. The status of the NHPC and SJVN was changed by an order issued by the Department of Public Enterprise (Ministry of Finance) on 30 August 2024.

Both the CPSEs come under the Union Ministry of Power and the total number of CPSE having Navratna status as of 31 August 2024 has risen to 23.

The status upgrades of both CPSEs will lead to greater financial autonomy for the management of both the companies.

Benefits of being Navratna Company

Some of the benefits enjoyed by a CPSE which are accorded Navratna status are as follows:

Invest up to Rs 1,000 crore or 15% of their net worth in a single project without needing prior approval of the central government,
Enter into technology joint ventures or strategic alliances without the permission of the central government,
To establish financial joint ventures and wholly owned subsidiaries in India or abroad with certain conditions

Eligibility Criteria to be a Navratna

A CPSE has to meet the following conditions to be granted a Navratna status:

The CPSEs have Miniratna - category 1 status,
obtained ‘excellent’ or ‘very good’ Memorandum of Understanding rating in three of the last five years,
having a composite score of 60 or above in the identified six performance indicators.

List of Navratna CPSEs (as of 30 August 2024)

As of August 2024, there were 23 Navratna CPSEs. The list of the CPSEs is as follows.

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
NHPC
NMDC Limited
Rashtriya Ispat Nigam Limited
Shipping Corporation of India Limited
Rail Vikas Nigam Limited
ONGC Videsh Ltd
Rashtriya Chemicals & Fertilizers Limited
IRCON
RITES
National Fertilizers Limited
Central Warehousing Corporation
Housing & Urban Development Corporation Limited
Indian Renewable Energy Development Agency Limited
Mazagon Dock Shipbuilders Limited
SJVN

About NHPC Limited

NHPC Ltd was set up as National Hydroelectric Power Corporation Ltd in 1975 under the Companies Act of 1956.

It was later renamed NHPC Ltd on 28 March 2008.

The company comes under the administrative control of the Union Ministry of Power.

It is mainly in the business of developing hydro power, wind and solar power projects.

NHPC's total installed capacity is 7144.20 MW, and it aims to increase to 23000 MW by 2032 and 50000 MW by 2047.

Headquarters: Faridabad, Haryana

Chairman and Managing Director: Raj Kumar Chaudhary

About SJVN

The SJVN is a joint venture company set up by the Government of India and the Himachal Pradesh Government in 1988.

The company was known as Satluj Jal Vidyut Nigam Limited, but later, in 2009, it changed its name to SJVN.

The company is in the business of hydel, wind, solar and power transmission lines. Thecurrent installed capacity of the company is 2467 MW and the company also operates 123 km power Transmission Line.

The company is currently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram, and Madhya Pradesh in India, as well as in Nepal.

Headquarters: Shimla, Himachal Pradesh

Chairman and Managing Director: Sushil Sharma