High Status Conferred Through Navratna Companies, But Needed To Be Eligible
In the year 1997, Government of India identified 9 large public sector undertakings to be conferred the title of Navratna companies. It was thought that these companies had comparative advantages and they could have better autonomy in their functioning. By present date, the total number of Navratna companies has been increased to up to 16. With passing years and further growth of various PSUs, more companies are in the pipeline to be promulgated the status of Navratna.
The system of granting special status started off in India with Navratna, much before Maharatna and Miniratnas were started. By the dint of such status, companies become more empowered. They could carry out various functions with autonomy with enjoyment of independence from government approvals. This allowed them to compete in the national and international scenario. For being included under the Navratna companies category, PSUs were required to have
- Schedule A and miniratna category 1 status
- Three years of excellent or very good Memorandum of Understanding ratings during the last 5 years,
- They should have a composite score of 60 out of 100 based on performance in the last 3 years, which was to be decided on the basis of net profit, manpower cost to cost of production or services, gross margin as capital employed, gross profit as turnover, earnings per share and inter-sectoral comparisons.
- These companies, with Navratna status had powers to have investments up to Rs 1000 crores or 15% of net worth on single project without government approval. They can spend up to 30% of their net worth not exceeding Rs 1000. Also, they were free to float subsidiaries, form alliances and enter into joint ventures abroad.
Navratna Companies Recruitment 2015-16
Bharat Electronics Limited – BEL Recruitment 2015
Bharat Heavy Electrical Limited – BHEL Recruitment 2015
Bharat Petroleum Corporation Limited – BPCL Recruitment 2015
GAIL (India) Limited – GAIL Recruitment 2015
Hindustan Aeronautics Limited – HAL Recruitment 2015
Hindustan Petroleum Corporation Limited – HPCL Recruitment 2015
Mahanagar Telephone Nigam Limited – MTNL Recruitment 2015
National Aluminium Company Limited – NALCO Recruitment 2015
NMDC Limited – NMDC Recruitment 2015
Neyveli Lignite Corporation Limited – NLC Recruitment 2015
Oil India Limited – Oil India Recruitment 2015
Power Finance Corporation Limited – Power Finance Corporation Limited Recruitment 2015
Power Grid Corporation of India Limited – PGCIL Recruitment 2015
Rashtriya Ispat Nigam Limited – Rashtriya Ispat Nigam Limited Recruitment 2015
Rural Electrification Corporation Limited – REC India Recruitment 2015
Shipping Corporation of India Limited – SCI Recruitment 2015