- On 26 April, the Union Finance Ministry has approved the upgrade of Rail Vikas Nigam Limited (RVNL) from Category-I Miniratna to Navratna Central Public Sector Enterprise (CPSE).
- Now, the corporation will have greater autonomy in terms of investment, joint venture formation and other financial decisions.
- RVNL is a public sector undertaking under the Ministry of Railways and will be the 13th Navratna among CPSEs.
- RVNL was incorporated in 2003 and is engaged in planning, development and implementation of Railway Infrastructure Projects.
- The talk of granting Navratna status to RVNL started recently after receiving several orders from the National Highways Authority of India (NHAI) and the Railways.
- RVNL is a CPSE of Ministry of Railways with an annual turnover of ₹19,381 crore and a net profit of ₹1,087 crore for the year 2021-22.
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