May 30, 2024
  • The Department of Public Enterprise has granted “Navratna” status to the National Fertilizers Ltd, IREDA and HUDCO.
  • The Indian government accords the Navratna status to top-tier public sector undertakings (PSUs) and these organisations are authorised to undertake substantial investments of up to ₹1,000 crore without needing approval from the Centre.
  • These companies have the liberty to invest up to 30% of their net worth within a year, as long as it stays below ₹1,000 crore. They can also engage in joint ventures, form alliances, and establish subsidiaries abroad.

ABOUT INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY (IREDA)

  • It is a Non-Banking Financial Institution (NBFC)promotes, develops and extends financial assistance for Renewable Energy and Energy Efficiency/Conservation Projects.
  • It is a Public Limited Government Company established in 1987.
  • under the administrative control of Ministry of New and Renewable Energy (MNRE).
  • As on March 2024, GoI held 75% stake in

ABOUT HUDCO:

  • HUDCO was incorporated as “The Housing and Urban Development Finance Corporation Private Limited” on April 25, 1970, as a private limited company under the Companies Act, 1956.

ABOUT NFL:

  • National Fertilizers Limited (NFL) is an Indian central public sector undertaking and the largest government-owned-Urea fertilizer-producer in India. It is a Navratna company, with the Government of India owning a majority stake.
  • Incorporated in 1974, NFL comes under the administrative control of the Ministry of Chemicals and Fertilizers, and is the second largest producer of the key fertiliser urea in India. NFL has five gas-based ammonia-urea plants viz Nangal and Bathinda in Punjab, Panipat in Haryana and two at Vijaipur (Madhya Pradesh).
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