Industrial Sickness India
- Industrial sickness is one of the major problems of Indian industrial sector. It creates problem of wasting financial resources, puts a burden on banks and also enhances the public expenditure.
- In 1985, Tiwari Committee was appointed to probe into the problems of industrial sickness. On the basis of its recommendations, Sick Industrial Companies Act (SICA) was proposed and later on in Jan 1987, a statutory institution named Board for Industrial and Financial Reconstruction (BIFR) was set-up.
- Primary responsibility for tackling problems of industrial sickness is vested in it.
Navratnas of India :
- Navratnas was the tide given originally to nine Public Sector Enterprises or PSE, identified by the Government of India in 1997 as its crown jewels or the most prestigious PSEs, which allowed them greater autonomy to compete in the global market.
- The number of PSEs having navratna status has now been raised to 18, the most recent addition being Coal India Limited.
Criterion of Selection :
- Navratna status is conferred by Department of Public Enterprises. To be qualified as a Navratna, the company must obtain a score of 60 (of the total 100) .The score is based on six parameters which include net profit to net worth, total manpower cost to total cost of production or cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes) to capital employed, PBDIT to turnover,. EPS (Earning Per Share) and inter-sectoral performance.
- Additionally, a company must first be a miniratna and must have four independent directors on its board before it can be made a Navaratna.
- The ‘Navaratna’ status offers a company enhanced financial and operational autonomy and empowers it to invest up to Rs.1000 cr or 15% of their net worth on a single project without seeking government approval.
- In a year, these companies can spend up to 30% of their net worth not exceeding Rs.1000 cr. They will also have the freedom to enter joint ventures, form alliances and float subsidiaries abroad.
List of Navratnas India :
- Bharat Electronics Limited (BEL)
- Bharat Heavy Electricals Limited (BHEL)
- Bharat Petroleum Corporation Limited (BPCL)
- Coal India Limited (CIL)
- Gas Authority of India Limited (GAIL)
- Hindustan Aeronautics Limited (HAL)
- Hindustan Petroleum Corporation Limited (HPCL)
- Indian Oil Corporation Limited (IOC)
- Mahanagar Telephone Nigam Limited (MTNL)
- National Aluminium Company Limited (NALCO)
- National Mineral Development Corporation (NMDC)
- National Thermal Power Corporation Limited (NTPC)
- Oil & Natural Gas Corporation Limited (ONGC)
- Power Finance Corporation Limited (PFC)
- Power Grid Corporation of India Limited (PGC)
- Rural Electrification Corporation Limited (REC)
- Shipping Corporation of India Limited (SCI)
- Steel Authority of India Limited (SAIL)
Miniratnas in India :
- In addition, the Government created another category called Miniratna.
- Miniratna can also enter into joint ventures, set subsidiary companies and overseas offices but with certain conditions.
- In 2002, there were 41 government enterprises that were awarded Miniratna status.
Category I Miniratna :
- This designation applies to PSEs that have made profits continuously for the last three years or earned a net profit of ₹ 30 crores or more in one of the three years, these miniratnas granted certain autonomy like incurring capital expenditure without government approval up to ₹ 500 crores or equal to their net-worth, whichever is lower.
Category II Miniratna :
- This category includes those PSEs which have made profits for the last three years continuously and should have a positive net-worth. Category II miniratnas have autonomy to incurring the capital expenditure without government approval up to ₹ 300 crores or up to 50% of their net-worth whichever is lower.
Miniratna Category – I List :
- Airport Authority of India
- Balmer Lawrie & Co. Limited
- Bharat Dynamics Limited
- BEML Limited
- Bharat Sanchar Nigam Limited
- Bongaigaon Refineries & Petrochemicals Limited
- Broadcast Engineering Consultants (I) Limited
- Central Warehousing Corporation
- Central Coalfields Limited
- Chennai Petroleum Corporation Limited
- Cochin Shipyard Limited
- Container Corporation of India Limited
- Dredging Corporation of India Limited
- Engineers India Limited
- Garden Reach Shipbuilders & Engineers Limited
- Goa Shipyard Limited
- Hindustan Copper Limited
- Hindustan Latex Limited
- Hindustan Newsprint Limited
- Housing & Urban Development Corporation Limited
- India Tourism Development Corporation Limited
- Indian Railway Catering & Tourism Corporation Limited
- IRCON International Limited
- Kudremukh Iron Ore Company Limited
- Mazagaon Docks Limited
- Mahanadi Coalfields Limited
- Mangalore Refinery & Petrochemicals Limited
- Mishra Dhatu Nigam Limited
- MMTC Limited
- MSTC Limited
- National Fertilizers Limited
- Neyveli Lignite Corporation
- NHPC Limited
- Northern Coalfields Limited
- Numaligarh Refinery Limited
- Oil India Limited
- Rashtriya Chemicals & Fertilizers Limited
- Rashtriya Ispat Nigam Limited
- RITES Limited
- Satluj Jal Vidyut Nigam Limited
- South Eastern Coalfields Limited
- State Trading Corporation of India Limited
- Telecommunications Consultants (India) Limited
- Western Coalfields Limited
Miniratna Category-Ii Cpses :
- Educational Consultants (I) Limited
- Engineering Projects (I) Limited
- Ferro Scrap Nigam Limited
- HMT (International) Limited
- HSCC (India) Limited
- India Trade Promotion Organization
- Indian Medicines Pharmaceuticals Corporation Limited
- Manganese Ore India Limited
- M E C O N Limited
- National Film Development Corporation Limited
- P E C Limited
- Rajasthan Electronics & Instruments Limited
- Water & Power Consultancy (India) Limited
Application Form Submission 16 Dec 2020 to 16 Jan 2021.