Context:
GRID-INDIA has earned the status of a Miniratna Category-I Central Public Sector Enterprises (CPSEs) as designated by the Ministry of Power.
Key Highlights
- Grid Controller of India Limited (GRID-INDIA) was established in 2009.
- It plays a crucial role in managing the nation’s power system, ensuring smooth power transfer across regions.
- It facilitates international power exchanges with a focus on reliability and sustainability.
- GRID-INDIA oversees the operation of the All India synchronous grid, which is one of the world’s largest and most complex power systems, through its five RLDCs(Regional Load Despatch Centres)and the NLDC (National Load Despatch Centre).
- GRID-INDIA is also designated as the nodal agency for major reforms in the power sector, such as the implementation and operation of the Green Energy Open Access Portal, Renewable Energy Certificate (REC) Mechanism, transmission pricing, short-term open access in transmission, Deviation Settlement Mechanism, Power System Development Fund (PSDF), etc.
Background
- The government classifies Public Sector Undertakings (PSUs) into three groups that is Maharatna, Navratna, and Miniratna.
| Maharatna | |
| Criteria | Benefits |
| 1. Having Navratna status and listed on Indian stock exchange with minimum prescribed shareholding as per SEBI guidelines 2. An average annual turnover of more than ₹25,000 crore or annual net worth of more than ₹ 15,000 crore or annual net profit after tax of more than ₹ 5,000 crore during the last 3 years 3. It should have a significant global presence. 4. Example: Coal India Limited, GAIL NTPC Limited etc. | 1. The key benefit of being a Maharatna PSU is the significant investment range between ₹ 1,000 crore to ₹ 5,000 crore. 2. Employees hold gazetted officer positions. 3. 13Maharatna companies in India |
| Navratna | |
| Criteria | Benefits |
| 1. Public Sector undertakings must be a Miniratna-I, Schedule ‘A’ company, and achieve an ‘excellent’ or ‘very good’ MoU rating in three of the last five years. 2. Having a composite score of 60 in six performance indicators. 3. Example: Bharat Electronics Limited, Oil India Limited etc. | 1. It enjoys financial autonomy to invest up to ₹1,000 crore without government approval. 2. Their boards have the authority to spend on new acquisitions or replacements without monetary limits and can engage in technology collaborations or alliances. 3. It permits PSUs to pursue mergers and acquisitions domestically and abroad, subject to approval from the Cabinet Committee on Economic Affairs (CCEA). 4. 16Navratna companies |
| Miniratna | |
| Criteria | Benefits |
| 1. Companies that made a profit in the last three years continuously, pre-tax profit is ₹30 crores or more in at least one of the three years 2. Having a positive net worth. 3. Examples: Airports Authority of India, Antrix Corporation Limited etc. Miniratna Category-II status CPSEs. 1. Public sector companies that have made a profit for the last three years continuously 2. Having a positive net worth. 3. Miniratna CPSEs should not have defaulted in the repayment of loans/interest payments on any loans due to the Government. 4. Miniratna CPSEs shall not depend upon budget support. 5. Example: Engineering Projects (India) Limited etc. | 1. Miniratna-I: Financial autonomy extends to either ₹ 500 crore or their net worth, whichever is lower. 2. Miniratna-II: Financial autonomy is capped at either ₹ 300 crore or 50% of their net worth, whichever is lower. 3. 75 Miniratna companies in India. |