The ‘Miniratna’ is a status given by the central government to select Public Sector Enterprises, that have attained better performance and strength and the government provides more financial power and autonomy to these Miniratnas to make them more competitive and efficient.

The Miniratnas form a vital categorization within the broader ‘Ratna’ scheme, which also encompasses the designations of Navratnas and Maharatnas. The core objective of the Ratna scheme is to furnish select CPSEs with autonomy and other incentives. This strategic move aims to drive enhancements in the performance and efficiency of these enterprises.

In summary, the ‘Miniratna’ status serves as an emblem of achievement for deserving Public Sector Enterprises, receiving greater financial empowerment and freedom from the government. As part of the overarching ‘Ratna’ scheme, this approach seeks to promote excellence and efficiency within the selected CPSEs.

Backgrounder to Miniratna status

The government initially categorized Public Sector Enterprises (PSEs) based on their economic importance and complexities, resulting in four categories – A, B, C, and D, during the early planning era. However, with the introduction of Economic Reforms, the government recognized the need to grant greater autonomy and flexibility to certain CPSEs. To achieve this objective, the Ratna categorization system (Navratna, Miniratna, Maharatna) was introduced. Notably, after the implementation of the New Industrial Policy in 1991, the government has consistently made efforts to enhance the competitiveness and efficiency of PSEs.

As part of this strategy, the government devised a special status mechanism for CPSEs, taking into account their performance, competitiveness, and size. One of the first major initiatives was the establishment of the Navratna status in 1997 (including Miniratnas). Subsequently, the introduction of the Maharatna status in 2010 further expanded the categorization. The Navratna scheme aimed to identify CPSEs with comparative advantages and provide them with necessary support to attain global recognition and competitiveness.

The need for categorisation under the Ratna scheme and government support to PSEs was necessitated with the change in their operational environment. With economic reforms, an important concern for the government was to reform the PSEs so that they can remain competitive. For that, the government decided to grant more freedom and autonomy, assigning more financial powers etc. to select CPSEs, so that their performance can be improved. The Miniratna categorisation was launched in October 1997. Miniratnas were identified in terms of thier opeartional features, size etc.

Eligibility criteria for Miniratna

The Miniratana are divided under two categories – Category -I and Category -II and the following are their eligibility criteria.

(i) Category-I CPSEs:

  • Continuous profit in the last three years,
  • A pre-tax profit of Rs.30 crores or more in at least one of the three years and
  • Positive net worth.

(ii) Category-II CPSEs:

  • Profit for the last three years continuously and besides having a positive net worth.

(iii) They should have not defaulted in the repayment of loans/interest payment on any loans due to the Government. These CPSEs will be eligible for enhanced delegated powers.

(iv) The PSEs shall not depend upon budgetary support or Government guarantees.

As a first step to delegate more authority, the Boards of these CPSEs should be restructured by brining least three non-official Directors.

The concerned administrative Ministry will decide whether a PSE meets the requirement to be classified as Category-I or Category-II.


  1. Salient Features of Miniratna Sheme, Ministry of Heavy Industries and Public Enterprises. Annexure 5, P. 149.

2. Annual Report, P 274, 289 Ministry of Finance, Government of India.

3. PIB

4. Powers under the Miniratna scheme

5. Powers under the Miniratna scheme 

Miniratna CPSEs

Following are the Miniratnas as of March 2023.

Category – I CPSEs

  1. Airports Authority of India
  2. Antrix Corporation Limited
  3. Balmer Lawrie & Co. Limited
  4. Bharat Coking Coal Limited
  5. Bharat Dynamics Limited
  6. BEML Limited
  7. Bharat Sanchar Nigam Limited
  8. Braithwaite & Company Limited
  9. Bridge & Roof Company (India) Limited
  10. Central Warehousing Corporation
  11. Central Coalfields Limited
  12. Central Mine Planning & Design Institute Limited
  13. Chennai Petroleum Corporation Limited
  14. Cochin Shipyard Limited
  15. Cotton Corporation of India Ltd.
  16. EdCIL (India) Limited
  17. Garden Reach Shipbuilders & Engineers Limited
  18. Goa Shipyard Limited
  19. Hindustan Copper Limited
  20. HLL Lifecare Limited
  21. HSCL Limited
  22. Hindustan Paper Corporation Limited
  23. Housing & Urban Development Corporation Limited
  24. HSCC (India) Limited
  25. India Tourism Development Corporation Limited
  26. Indian Rare Earths Limited
  27. Indian Railway Catering & Tourism Corporation Limited
  28. Indian Railway Finance Corporation Limited
  29. Indian Renewable Energy Development Agency Limited
  30. India Trade Promotion Organization
  31. IRCON International Limited
  32. KIOCL Limited
  33. Mazagaon Dock Shipbuilders Limited
  34. Mahanadi Coalfields Limited
  35. MOIL Limited
  36. Mangalore Refinery & Petrochemical Limited
  37. Mineral Exploration Corporation Limited
  38. Mishra Dhatu Nigam Limited
  39. MMTC Limited
  40. MSTC Limited
  41. National Fertilizers Limited
  42. National Projects Construction Corporation Limited
  43. National Small Industries Corporation Limited
  44. National Seeds Corporation
  45. NHPC Limited
  46. Northern Coalfields Limited
  47. North Eastern Electric Power Corporation Limited
  48. Numaligarh Refinery Limited
  49. ONGC Videsh Limited
  50. Pawan Hans Helicopters Limited
  51. Projects & Development India Limited
  52. Railtel Corporation of India Limited
  53. Rail Vikas Nigam Limited
  54. Rashtriya Chemicals & Fertilizers Limited
  55. RITES Limited
  56. SJVN Limited
  57. Security Printing and Minting Corporation of India Limited
  58. South Eastern Coalfields Limited
  59. Telecommunications Consultants India Limited
  60. THDC India Limited
  61. Western Coalfields Limited
  62. WAPCOS Limited

Category-II CPSEs

  1. Artificial Limbs Manufacturing Corporation of India
  2. Bharat Pumps & Compressors Limited
  3. Broadcast Engineering Consultants India Limited
  4. Central Railside Warehouse Company Limited
  5. Engineering Projects (India) Limited
  6. FCI Aravali Gypsum & Minerals India Limited
  7. Ferro Scrap Nigam Limited
  8. HMT (International) Limited
  9. Indian Medicines & Pharmaceuticals Corporation Limited
  10. MECON Limited
  11. National Film Development Corporation Limited
  12. Rajasthan Electronics & Instruments Limited
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