New Delhi (02.09.2024):Union Minister for Power and Housing & Urban Affairs Manohar Lal felicitated CMDs of NHPC and SJVNL on being conferred with ‘Navratna’ status. This honour grants these hydro power Central Public Sector Undertakings (CPSUs) greater operational and financial autonomy.
Manohar Lal said, “This is a significant moment for the country as the hydro CPSUs like NHPC and SJVNL are playing pivotal role in harnessing the hydro power potential leading to powering the country by limiting greenhouse gases or other pollutants.
The Navratna status will empower NHPC and SJVNL with faster decision-making, increased efficiency, and greater empowerment. This status supports major capital expenditure (CAPEX) decisions and investment plans, propelling growth, expanding market reach, and achieving long-term gains. Navratna status brings big dividends, brighter future and greater autonomy allowing them more room for investments without government approval. They can now also form joint ventures or alliances and set up overseas subsidiaries. They can invest up to 30 per cent of their net worth in a year, with a cap of Rs 1,000 crore, and assign investments of up to Rs 1,000 crore to projects without needing government approvals.
Power Minister felicitates NHPC & SJVNL CMDs on ‘Navratna’ Status
By IndianMandarins - 2024-09-02 12:25:00
New Delhi (02.09.2024):Union Minister for Power and Housing & Urban Affairs Manohar Lal felicitated CMDs of NHPC and SJVNL on being conferred with ‘Navratna’ status. This honour grants these hydro power Central Public Sector Undertakings (CPSUs) greater operational and financial autonomy.
Manohar Lal said, “This is a significant moment for the country as the hydro CPSUs like NHPC and SJVNL are playing pivotal role in harnessing the hydro power potential leading to powering the country by limiting greenhouse gases or other pollutants.
The Navratna status will empower NHPC and SJVNL with faster decision-making, increased efficiency, and greater empowerment. This status supports major capital expenditure (CAPEX) decisions and investment plans, propelling growth, expanding market reach, and achieving long-term gains. Navratna status brings big dividends, brighter future and greater autonomy allowing them more room for investments without government approval. They can now also form joint ventures or alliances and set up overseas subsidiaries. They can invest up to 30 per cent of their net worth in a year, with a cap of Rs 1,000 crore, and assign investments of up to Rs 1,000 crore to projects without needing government approvals.
