Maharatna, Navratna & Miniratna Status of CPSEs: NPCC is now a Miniratna

The Union Government on November 27, 2018, conferred the ‘Miniratna status: Category –I’ on the National Projects Construction Corporation Limited (NPCC). The empowerment of Miniratna Status will help NPCC in taking speedy decisions by enhancing the delegation of powers to the Board. NPCC has also been awarded the ISO 9001:2015 Certification.

Key Highlights:-

1. National Projects Construction Corporation Limited (NPCC), a schedule ‘B’ Central Public Sector Enterprise (CPSE) under the administrative control of Ministry of Water Resources, was incorporated in 1957.
2. It is a premier construction company having a mandate with the creation of infrastructure to provide an impetus for economic development of the country.
3. The Maharatna, Navratna and Miniratna statuses give financial and administrative power to the companies to a certain extent.
4. The Maharatna category has been the most recent one, created in 2009, while the other two have been in function since 1997.
5. Apart from these, PSUs in India are also categorized based on their special non-financial objectives and are registered under Section 8 of Companies Act, 2013.
6. The Corporation is making a continuous profit since 2009-10, having positive net-worth for the last six years and has an ambitious business plan with enhanced order book position of Rs 11833 crore.

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