In Rail Vikas Nigam, India gets its 13th Navratna in nine years

Rail Vikas Nigam Ltd. (RVNL) became the 13th Central Public Sector Enterprise (CPSE) to get the Navratna status. It was in 2014, when Engineers India Ltd. Was conferred with Navratna status.

Earlier, RVNL was in the Miniratna category – I and a schedule ‘A’ CPSE under Ministry of Railways which recorded an annual turnover of Rs 19,381 crores and net profit of Rs 1087 crores for the year 2021-22.

The meeting of the Inter-Ministerial Committee (IMC) was held on January 18, 2023 to consider the proposal of the Ministry of Railways for the grant of Navratna status to RVNL Limited.

For a CPSE to be eligible for Navratna status, the company must have Miniratna l, schedule A status and have obtained ‘excellent’ or ‘very good’ Memorandum of Understanding (MoU) rating in three of the last five years.

Moreover, the company must get a score of 60 out of 100 in parameters like net profit, cost of production, service cost, capital employed, earnings per share and inter sectoral performance.

The status will enable the company to have more autonomy in terms of investment, setting up joint ventures, and other financial decisions.