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Government has created another category for PSU ie. Miniratna. Miniratna can set subsidiary company, overseas offices and can enter into joint ventures but with certain conditions. There are two type of Miniratnas:
Category I
PSEs which have made profits in three consecutive years and earned net profit of rs. 30 crore or more in one of the three years falls in this category. These miniratna can incur capital expenditure upto Rs. 500 Cr. or equal to their net worth whichever is less without govt. approval.
Category II
This category includes PSEs which have made profits in three consecutive years and have positive networth. These companies can incur capital expenditure of rs. 300 cr. or equal to 50% of their networth whichever is less without the Govt. Approval.
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Public sector undertaking
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What do you mean by category 1 and category 2 in miniratna psu?
The Basic difference between a Category I & Category II Mini Ratna Company is that a category II mini ratna company can make a capital expenditure of Rs 250 crore or 50% of the net worth, whichever is less, without seeking the permission of the government. On the contrary, the board of category I mini ratna company can make a capital expenditure of Rs 500 crore or 100% of its net worth, whichever is less, on its own." Similarly, the board of a category I mini ratna company can take an independent decision to invest Rs 500 crore in joint ventures and subsidiaries. For category II mini ratnas, the investment limit has been capped at Rs 250 crore.
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What is the meaning of PSU?
Penn State University
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What is the meaning of psu when looking for your transcript from a college?
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When was Bharat Ratna created?
Bharat Ratna was created in 1954.
When did Raj Ratna end?
Raj Ratna ended in 1949.
