What are the Navratna and Miniratna companies in India?

Today’s trend is again focussing on government jobs. For the obvious reasons CPSEs are popular among the youth, and when it is a NAVRATNA PSU or a MINIRATNA PSU, engineers are all ears to grab every bit of information about it. If you are looking for all the details about Navratna PSU or Miniratna PSU, then this an article where you will get all the relevant information. and GATE is a Gateway to your dreams.

The Government of India categorizes Central Public Sector Enterprises (CPSEs) under three categories of Navratna, Miniratna, and Maharatna.  This categorization is based on factors such as turnover, net worth and net profit on the annual basis and the presence of the company in the stock exchange as per the Securities and Exchange Board of India (SEBI) rules.

The Government of India in the year 1997, gave the status of Navrtana to 9 CPSEs, as to give them more power and autonomy to compete in the global market so as to “support [them] in their drive to become global giants”. The status enables the company to invest up to certain limits without prior permission from the government. Presently there are 16 CPSEs having the Navratna status. The following are the conditions to get Navratna PSU status:

  1. The company must have the status of Miniratna Category – 1.
  2. It should have four independent directors in its board of directors.
  3. The company must obtain the score of 60 or above on various parameters like net profit, net worth, total manpower cost, a total cost of production, cost of services, capital employed, profit before interest and taxes to turnover, inter-sectoral performance and earnings per share etc.

The third or last category of CPSEs or PSEs is the Miniratna PSU while Maharatna and Navratna being first and second. In 1997, the government chose to give more autonomy and control of financial matters to some profit-making public sector companies subjected to some eligibility conditions and guidelines to keep them competitive, efficient and effective. They can set up subsidiary companies, can enter into joint ventures and can set up the overseas office.

There are two categories within Miniratna PSU, Category I and Category II

  1. Category I CPSEs: These are the companies which have made profit continuously in the last three years, have made a net profit of Rs. 30 crores or more in one of the three previous years. This category can invest capital expenditure up to Rs. 500 crores or equal to its net worth or which is less without the previous permission of the government.
  2. Category II CPSEs should have made profits in the three consecutive years and have a positive net worth.

HOW MANY NAVRATNA COMPANIES IN INDIA?

There are 16 Navratna CPSEs as following:

  1. Bharat Electronics Limited (BEL)
  2. Container Corporation of India Limited
  3. Engineers India Limited
  4. Hindustan Aeronautics Limited
  5. Hindustan Petroleum Corporation Limited
  6. Mahanagar Telephone Nigam Limited
  7. National Aluminium Company Limited
  8. National Buildings Construction Corporation Limited
  9. NMDC Limited
  10. Neyveli Lignite Corporation Limited
  11. Oil India Limited
  12. Power Finance Corporation Limited
  13. Power Grid Corporation of India Limited
  14. Rashtriya Ispat Nigam Limited
  15. Rural Electrification Corporation Limited
  16. Shipping Corporation of India Limited

But in the era of competitiveness, the question arises about the current jobs in Navratna companies, Navratna company criteria, and Navratna company’s recruitment and pay scale.

Here are complete details about leading Navratna companies’ eligibility, recruitment process, and pay scale. 

Bharat Electronics Limited (BEL)

BEL was created to cater to the needs of advanced electronic equipment of the Indian Defence Services. Though this is its main focus, the Company has marked its presence in the civilian market, too. BEL also exports some of its services and products to other countries as well.

ELIGIBILITY

The eligible disciplines for BEL are Electronics & Telecommunications, Mechanical, Electrical, Computer Science, Civil, Chemical engineering.

SELECTION PROCESS

Candidates have to go through a three-stage selection process in order to get recruited.

  • Written Exam
  • Technical interview
  • HR interview

PAYSCALE AND PERKS:

  • The engineers will be appointed in the company as a Probationary Engineer in E-1 grade with a pay scale of INR 40,000 – 1,40,000 and 3% increment in basic pay annually.
  • Apart from basic pay, Dearness Allowance, House Rent Allowance and other benefits such as Performance Related Pay, Provident Fund, Medical benefits, etc. will also be enjoyed by employees.

 

HINDUSTAN PETROLEUM CORPORATION LIMITED (HPCL)

HPCL is an oil and natural gas company which produces a wide range of petroleum.   It also owns the largest lube refinery in the country by producing Lube Base Oils of international standards.

ELIGIBILITY

Candidates having an Engineering degree in the field of Mechanical, Civil, Electrical, Electronics & Telecommunication, Instrumentation, and Chemical are eligible to apply.

Selection Process

The candidates must clear GATE exam with a good score

On the basis of GATE score, candidates will be called to join the company.

Pay Structure, Perks, and Allowances

  • The successful candidates will get the basic pay scale of INR 60,000 – 1,80,000/- for one probation year.
  • Apart from basic pay, the employees will also enjoy Dearness Allowance, House Rent Allowance, and Cafeteria Approach. And additional benefits such as Retirement Benefits (30% of basic pay & DA), Contributory Provident Fund, Gratuity, and Superannuation Benefit and many more.

 

POWER GRID CORPORATION OF INDIA Limited (PGCIL)

POWER GRID CORPORATION OF INDIA Limited is an electric utilities company. It transmits about 50% of the total power generated in the country through its transmission network making it a largest Electric Power Transmission Utility company of India.

 Eligibility

Candidates having a B. Tech degree in the discipline of Electronics, Electrical, Civil and Computer Science are eligible to apply.

Selection Process

Every candidate must appear in the GATE exam as GATE score will be taken into account for the first stage of shortlisting followed by the next stage of group discussion and personal interview.

Pay scale, perks, and allowances

  • Chosen candidates will get a pay scale of INR 60,000 – 1,80,000/-.
  • Other than the pay scale, the candidates will also enjoy Dearness Allowance, House Rent Allowance, and Cafeteria Approach and other benefits such as Performance Related Pay, Conveyance Reimbursement, Medical facilities, group insurance, Gratuity, and many more.

 

OIL INDIA LIMITED (OIL)

OIL is involved in the business of exploration, development, and production of the crude oil and natural gas. It is also engaged in the transportation of crude oil and production of LPG. OIL also involved in providing various E&P related services.

 Eligibility

The candidates having a full-time Bachelor’s Degree in Mechanical Engineering or Full-Time post-graduation degree in Geology or Full-Time post-graduation degree in Geophysics are eligible to apply for this job.

Selection Process

The students must appear for the GATE exam and secure a good GATE score as this would be the basis of shortlisting for the next phase of the selection process which is a personal interview.

Pay scale, Perks, and Allowances

  • The candidates will be working as Executive Trainee and will get a pay scale of INR 60,000 per month during the training period. And after the completion of the training period, they will be working as Executive Grade B with the pay scale of INR 60,000-1,80,000/-.
  • Besides this, they will also enjoy Dearness Allowance, Cafeteria Approach, and House Rent Allowance and other benefits which include Leave, medical treatment, Provident Fund, Gratuity, among others.

 

NATIONAL MINERAL DEVELOPMENT CORPORATION LIMITED (NMDC)

NMDC is the largest iron ore producer in the country. It is also engaged in the exploration of copper, rock phosphate, limestone, magnesite, diamond, tin, tungsten, graphite and other.

 Eligibility

The candidate must have the degree of B. Tech in the disciplines of electrical engineering, electronics & communication engineering, CSE, IT or mechanical engineering.

 Selection Process

The candidates will have to go through a written exam followed by a group discussion and finally a personal interview.

 Pay scale, Perks, and Allowances

  • The candidates will get the pay scale ranging from INR 50,000 – 1,60,000/-
  • Other than the basic pay, the candidates will also get to enjoy Dearness Allowance, House Rent Allowance, and other benefits like Performance Related Pay, Provident Fund, Gratuity among others.

 

NATIONAL BUILDINGS CONSTRUCTION CORPORATION LIMITED

The NBCC operated in mainly three areas of (I) Project Management Consultancy (PMC) (ii) Real Estate Development (iii) EPC Contracting. Apart from its core business, it also undertakes projects of Re-development of government properties, Roads, Hospitals & Medical Colleges, Institutions, Offices, Airports, Bridges, Industrial & Environmental Structures, etc.

Eligibility

The students of B. Tech in civil engineering are eligible to apply for this job.

 Selection Process

The candidates should appear for the GATE exam for getting shortlisted for the personal interview.

 Pay scale, Perks, and Allowances

  • The candidates will get the pay scale ranging from INR 50,000 – 1,60,000/-
  • Other than the basic pay, the candidates will also get to enjoy Dearness Allowance, House Rent Allowance, and other benefits like Performance Related Pay, Provident Fund, Gratuity, among others.

 

CONTAINER CORPORATION OF INDIA LIMITED

CONCOR’s main business is to provide containerized freight transportation by rail. It also undertakes the cover management of Ports, air cargo complexes and establishing cold-chain.

Eligibility

The students having a B. Tech degree in civil engineering are eligible to apply.

 Selection Process

The company will soon release the notification of recruitment through GATE followed by group discussion and personal interview.

Pay scale, Perks, and Allowances

The candidates will get the pay scale of INR 50,000- 1,60,000 with various allowances and benefits such Dearness Allowance, House Rent Allowance, Performance Related Pay, Provident Fund, Gratuity etc.

 

 MINIRATNA PSU: –

The Miniratna companies in India have increased a lot in number since its establishment. The first category of Miniratna PSU includes 60 companies. And Miniratna Category II includes 18 companies.

The names of leading Miniratna companies are the following:

S.NO. COMPANY LOCATION
1 Airports Authority of India New Delhi
2 Bharat Coking Coal Limited Dhanbad
3 Bharat Dynamics Limited Hyderabad
4 Bharat Sanchar Nigam Limited New Delhi
5 Central Coalfields Limited Ranchi
6 Cochin Shipyard Limited Cochin
7 Hindustan Copper Limited Kolkata
8 Mangalore Refinery & Petrochemical Limited Mangalore
9 Manganese Ore (India) Limited Nagpur
10 NHPC Limited Faridabad
11 RITES Limited Gurgaon
12 BEML Limited Bengaluru

 

PAY SCALE IN MINIRATNA JOBS

Miniratna companies in India mainly hire for the post of entry-level engineers through GATE exam. Especially after the 3rd Pay Revision Committee for Central Public Sector Enterprises CPSEs have increased a lot.

For Example, it means someone has a basic pay scale of 20000 previously, now will get the basic pay scale of 50480. The multiplication for calculating the new basic pay scale is 2.524, resulting in a big increase in salary.

The basic pay scale for entry-level engineers is ranging from 15,400 to 50,500. Other than the basic salary, employees will also get Dearness Allowance dependent on the basic pay, House Rent Allowance (HRA), Conveyance Allowance, Travel Allowance, Medical Benefits, Leave Encashment, Gratuity and etc.

The miniratna, though, last on the ladder on categorization, does not stand last in terms of benefits of a Government job and very popular among youth. And presents a decent career for GATE aspirants. The engineering students who are preparing for GATE exam for PSU job should keep an eye on it.

 

PUBLIC SECTOR Jobs in INDIA AND its PAY SCALE

The public sector in India initiated by the government have always been on number one on the list of the career choice of Indian middle class. The advantages this gives are even now, in the era of the corporate sector attracts youth. The engineer’s appearance in GATE exam is proof of its popularity among engineers and the number is only increasing day by day. The corporate sector may provide attractive packages but a job in a CPSEs is not less than it in any aspect. Some advantages are listed below:

  1. The job satisfaction under CPSEs or PSEs Jobs cannot be ignored. This is the lifetime employment security for the employee in the hire and fire environment.
  2. The process and facilities to have leaves are not as tiring and difficult in private sectors.
  3. Where in the private sector salary shown is not a take-home salary and is a CTC, Government employees get a large amount in the basic salary plus many perks and allowances.
  4. They can take loans from banks with much ease.
  5. Employees can get more leaves than the private sector by applying a medical certificate with a salary.
  6. They enjoy numerous benefits other than a large amount in salary like house rent allowance, earned leaves, pension scheme, group medical insurance, easy working hours and regular holidays.

Apart from all this, the pay commission, time to time, increase salary in a large amount or we can say almost double it. After 2014 by a notification by Ministry of Finance, Department of Financial services, women employed in Public Sector Banks, as far as possible, are tried to be transferred where her husband is stationed or that station in case of a married woman or where her parents stay in case of an unmarried woman, on her request. It is done in view to enabling them to have an easy work-home balance.

Hope you found this article informative and useful.

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