RailTel gets 'Navratna' status

The Narendra Modi government has granted ‘navratna status’ to Satluj Jal Vidyut Nigam, National Hydroelectric Power Corporation (NHPC), RailTel Corporation of India and Solar Energy Corporation of India.

RailTel 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. RailTel is a central public sector undertaking under the Railways Ministry.

The Finance Minister of India, Nirmala Sitharaman gave a nod for the status of Navratna for these companies. With the addition of these four companies, now the country has 25 state-owned Navratna companies.

Railtel Corporation of India is a state-owned company with an annual turnover of Rs 2,622 crores and a net profit of Rs 246 crores for the financial year 2023-24. Solar Energy Corporation of India had an annual turnover of Rs 13,035 crores and a net profit of Rs 436 crore for 2023-24.

NHPC had an annual turnover of Rs 8,405 crore and a net profit of Rs 3,744 crore for 2023-24. Satluj Jal Vidyut Nigam had an annual turnover of Rs 2,833 crore and a net profit of Rs 908 crore for 2023-24.

Granting 'Navratna' status usually results in greater delegation of authority, increased operational flexibility, and financial independence, which significantly boosts these companies' growth and performance.
The companies with Navratna status can invest upto Rs 1,000 crore without seeking approval from the central government.

The other Navratna companies are Bharat Electronics, Container Corporation of India,  Engineers India, Hindustan Aeronautics, Mahanagar Telephone Nigam, National Aluminium Company, National Buildings Construction Corporation, Neyveli Lignite Corporation, NMDC, Rashtriya Ispat Nigam, Shipping Corporation of India, Rail Vikas Nigam, ONGC Videsh, Rashtriya Chemicals and Fertilisers, IRCON, RITES, National Fertilisers, Central Warehousing Corporation, Housing and Urban Development Corporation, Indian Renewable Energy Development Agency, and Mazagon Dock Shipbuilders, according to Department of Public Enterprises.

The Department of Public Enterprises (DPE) is the nodal department for all the Central Public Sector Enterprises (CPSEs) and formulates policy about CPSEs.