In a recent move, Finance Minister Nirmala Sitharaman has elevated four state-owned enterprises to the prestigious Navratna status. The newly upgraded companies are Satluj Jal Vidyut Nigam Ltd, Solar Energy Corporation of India Ltd, Railtel Corporation of India Ltd, and National Hydroelectric Power Corporation Ltd.

With this addition, the total number of Navratna firms has risen from 21 to 25. This upgrade grants these enterprises increased autonomy, particularly in making financial decisions, which is expected to enhance their operational efficiency and decision-making capabilities.

The Navratna status is awarded to companies that demonstrate strong performance and have the potential to become leaders in their respective sectors. The enhanced autonomy will allow these firms to operate with greater flexibility, thereby strengthening their role in the economy and contributing more significantly to national growth.

Following the addition of these four state-owned companies to the prestigious Navratna category, the total number of Navratna firms has risen from 21 to 25. This upgrade provides the newly designated companies with increased leverage and independence. As Navratna entities, they will be better positioned to engage in more substantial Public-Private Partnership (PPP) projects and benefit from certain exemptions, including reduced need for government approvals in specific scenarios. This enhanced status is expected to foster greater innovation and efficiency, allowing these firms to undertake ambitious projects and contribute more effectively to the economy.

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