- Indian Renewable Energy Development Agency (IREDA) has been awarded Navratna status by the Department of Public Enterprises.
- IREDA is now empowered to execute significant investments up to ₹1,000 crore without requiring approval from the central authority.
- Companies with Navratna status are allowed to allocate up to 30% of their total assets annually. However, it will be less than ₹1,000 crore.
- They also have the option to participate in joint ventures, form partnerships and set up foreign subsidiaries.
- To be eligible for Navratna status a corporation must first obtain Miniratna Category-I designation.
- To be eligible for Navratna status it must be included in Schedule A of Central Public Sector Enterprises (CPSEs).
Tags:
Economics
