Miniratna Companies: Category, List of Miniratna Companies In India, CPSE

The Miniratna Companies are categorized into the companies incurring and attaining high profits in the prior three years. Miniratna company receives financial authority and also possesses an objective of enhancing economic growth. In cumulation, there are 74 companies that can be classified into the Miniratna Companies of India.

The Miniratna companies also aim to enhance the country’s economic growth. In cumulative there are 74 Miniratna Companies. These companies have been segregated into two major types category 1 and category 2. Category I companies add to the number of 61, while category 2 comprises 12 major companies.

The Miniratna companies are the ones possessing a positive net profit in the prior three years. They are majorly classified into two broad categories on the basis of the specified and prescribed eligibility criteria. The types of companies that have been listed here are as follows-

• Miniratna Company Category 1- The companies possessing a positive net profit in the three prior years. The profit in one of the years is equivalent to more than 30 crores.
• Miniratna Company Category 2- Category 2 makes up for the categories incurring a profit in the last three years

Miniratna companies are a category of public sector enterprises in India that have been granted greater autonomy and financial powers to operate. They are considered to be of strategic importance and have the potential for growth and profitability. To gain more information about miniratna companies and their operations, candidates can download the Miniratna Companies UPSC notes from direct link provided below.

Download Here: Miniratna Companies UPSC Notes

The major objective of the Miniratna companies in India is to surge the economy. They are also endowed with higher grades of responsibilities in the financial sector. They also fulfill numerous needs of e-commerce. To satiate the needs of commerce the Miniratna companies have been segregated into two broad groups. This also surges the competition and improves diligence in the working companies.

The miniratna companies fit are classified and segmented into two major groups in accordance with the eligibility criteria they fit into. The companies falling into Category 1 need to have acquired the profit in the prior three years. They must have incurred a profit of 30 crores or above in one of the three years. The eligibility criteria for category 2 is that they need to have acquired a profit in the previous three years and must have a positive net worth.

The Miniratna companies that fall in category 1 must have acquired profit in the previous three years. They must have gained a profit of 30 crores and above in one of the three years. They receive a financial autonomy of 500 crores, they can put this amount for investment without seeking the approval of government officials. In total there are 61 companies, that make up the list of Miniratna companies category 1.

The Miniratna companies that lie in category 2 must fit the prescribed eligibility criteria to be considered for the same. These companies must incur profit for the previous three years, and ought to be in possession of a positive net worth. They receive the financial autonomy of 300 crores. They can keep this amount for investment without seeking the approval of government officials. In total 12 companies fall in the list of category 2 Miniratna companies in India.

The major Miniratna companies in India are the most renowned and prestigious PSUs that are getting the best results in category 1. The major companies are Airports Authority of India, Antrix Corporation, Bharat Dynamics Limited, Bharat Earth Movers Limited, Bharat Sanchar Nigam Limited, Cochin Shipyard, GSRE, GSL, IRCTC, IRCON International, MDL etc.

The maximum project investment allowed by Maharatna Company is 5000 crores or 15% of its net value. A Navratna business may invest up to Rs. 1,000 crores. Companies with the Miniratna status are permitted to invest up to 500 crores or their net worth. Based on the money these Central Public Sector Enterprises (CPSEs) make, the government awards them the titles of Navratna, Miniratna, and Maharatna.