Four PSUs to get ‘Navratna’ status from government, Check out details here

The Indian government has granted ‘navratna status’ to Satluj Jal Vidyut Nigam (SJVN) Ltd, NHPC Ltd, RailTel Corporation of India Ltd, and Solar Energy Corporation of India Ltd.

State-owned hydropower company SJVN was granted 'Navratna' status by the government. With this grant, the company would get benefit in enhancing the market credibility and in undertaking larger-size PPP projects. SJVN is a CPSE with an annual turnover of Rs. 2833 crores and a net profit of Rs 908 crores for FY 2023-24.

 

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Solar Energy Corporation of India Ltd, National Hydroelectric Power Corporation Ltd and Railtel Corporation of India Ltd were also upgraded to Navratna CPSE (Central Public Sector Enterprises). 

NHPC is a CPSE with an annual turnover of Rs. 8405 crores and net profit of Rs. 3744 crores for FY 2023-24.

SECI is a CPSE with an annual turnover of Rs. 13035 crores and a Net profit of Rs. 436 crores for FY 2023-24. RCIL is a CPSE with an annual turnover of Rs. 2622 crores and net profit of Rs. 246 crores for FY 2023-24.

RailTel Corporation of India has become the 22nd 'Navratna,' followed by Solar Energy Corporation of India as the 23rd, NHPC as the 24th, and Satluj Jal Vidyut Nigam as the 25th 'Navratna' in India.

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The Union Government accords the navratna status to top-tier public sector undertakings (PSUs).

This status allows the organisations to undertake substantial investments of up to Rs 1,000 crore without needing approval from the Centre.

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