The Department of Public Enterprises (DPE) under the Ministry of Finance, Government of India, has issued an Office Memorandum dated August 30, 2024. This memorandum communicates that the Competent Authority has granted approval for NHPC Limited to be awarded the prestigious Navratna status.
The Department of Public Enterprises, Ministry of Finance, Government of India, through its letter numbered PD-I26/0004/2024-DPE dated August 30, 2024, has conferred the prestigious “Navratna Status” upon SJVN Limited.
Enterprises granted Navaratna status experience significant advantages that enhance their operational effectiveness and financial autonomy. One of the primary benefits is increased operational freedom, allowing these companies greater flexibility in financial decisions and investments compared to other Public Sector Enterprises (PSEs).
This status empowers them to make substantial investments within specified limits without requiring prior government approval, streamlining their ability to respond swiftly to market opportunities.
Additionally, Navaratna status confers a higher degree of operational independence, granting these enterprises greater control over their strategic planning and day-to-day management. This combination of autonomy and financial power enables Navaratnas to pursue growth and innovation more effectively, driving their success in a competitive environment.