NEWS – Grid Controller of India Limited (GRID-INDIA) was conferred with the status of Miniratna Category-I Central Public Sector Enterprise (CPSE)

MINIRATNA COMPANY

• The ‘Miniratna’ status is part of the broader ‘Ratna’ scheme, which also includes Navratnas and Maharatnas, aimed at providing autonomy and incentives to select PSEs.
• It signifies achievement for deserving PSEs, granting them financial empowerment and freedom from government control to drive excellence and efficiency.
• Initially categorized as A, B, C, and D, PSEs were later classified under the Ratna scheme, recognizing the need for autonomy and flexibility.
• The Ratna scheme evolved with the introduction of Navratna status in 1997 and Maharatna status in 2010, reflecting the government’s efforts to enhance PSEs’ competitiveness.
• Category-I Miniratnas must have continuous profit for the last three years, a pre-tax profit of Rs.30 crores or more in at least one of the three years, and a positive net worth.
• Category-II Miniratnas must have continuous profit for the last three years and a positive net worth, without defaulting on loans or depending on government support.
• Miniratna CPSEs are granted enhanced delegated powers, subject to restructuring their boards with non-official directors as a first step towards autonomy.
• The classification into Category-I or Category-II is determined by the concerned administrative ministry based on eligibility criteria.

GRID INDIA

• Established in 2009
• Mandate of overseeing the seamless and uninterrupted operation of the Indian Power System, ensuring the efficient transfer of electric power within and across regions, facilitating trans-national power exchanges with a focus on reliability, economy, and sustainability
• Facilitates competitive and efficient wholesale electricity markets and administer settlement systems.