Reportedly, the government has assessed their strength before giving them the new status which is likely to be announced this week. 

The Navratna plan was launched in 1997 to select government-owned enterprises (CPSEs) with outstanding financial and market performance giving them more financial and operational freedom and allowing them to make faster decisions.

Navratna status brings big dividends and a brighter future ahead is that these CPSEs would have greater autonomy, allowing them more room for investments without government approval and they can now also form joint ventures or alliances and set up overseas subsidiaries. Now, they can invest up to 30% 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 government approvals.