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Government Grants ‘Navratna’ Status to IREDA

Government Grants 'Navratna' Status to IREDA

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The Indian Renewable Energy Development Agency (IREDA), a government-owned enterprise, has achieved the prestigious ‘Navratna’ status as per a recent disclosure to the stock exchanges. With this recognition, the total count of Navratna Public Sector Enterprises (PSEs) in India now reaches 17.

Benefits of getting Navratna Status

Maharatna, Navratna and Miniratna Status given to CPSEs

Maharatna, Navratna, and Miniratna are statuses awarded to certain Central Public Sector Enterprises (CPSEs) in India. These designations recognize the CPSEs’ financial performance, operational efficiency, and strategic importance. Each status comes with varying degrees of autonomy and decision-making power. Here’s a breakdown of each category:

Maharatna Status

Navratna Status

Miniratna Status

Comparison Between Maharatna, Navratna, and Miniratna PSUs

StatusDescriptionFinancial Performance CriteriaAutonomy Level
MaharatnaHighest categoryMost stringentHighest
NavratnaMid-level recognitionStringentModerate
Miniratna (Cat I & II)Lower-level recognitionLess stringentLowest (among the three categories)

About IREDA

The Indian Renewable Energy Development Agency Limited (IREDA) is a public sector enterprise under the Ministry of New and Renewable Energy (MNRE) of the Government of India. It plays a crucial role in promoting and financing renewable energy and energy efficiency projects in the country.

IREDA Full Form

The full form of IREDA is “Indian Renewable Energy Development Agency”. It plays a pivotal role in India’s transition towards sustainable energy solutions. IREDA is a specialized financial institution established by the Government of India in 1987 with the primary objective of promoting and financing renewable energy projects across the nation.

Key functions of IREDA

Significance of IREDA

Recent Developments

Overall, IREDA plays a vital role in accelerating India’s transition towards a clean and sustainable energy future.