Ircon International was granted the status of a 'Navratna'. With this addition there are a total of 16 Navratna companies at present
Rites which comes under the Railway Ministry is also given the Navratna status whose continuation is subject to the fulfilment of Navratna criteria
The Central Public Sector Enterprises are categorised into 'Maharatna', 'Navratna', and 'Miniratnas.'
CPSEs have an advantage over other companies as they have been granted financial independence to invest up to Rs 1,000 crore sans government approval
The board has autonomy to incur capital expenditure on the purchase of new items or for replacement without any monetary ceiling
Navratna includes: BEL, EIL, HAL,MTNL, NALCO, NBCC, NMDC, BEL,NLC, OIL Ltd, PFC, RINL, REC, SCI