Recently, the Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE)
About Solar Energy Corporation of India:·
- It is the primary implementing agency of the Ministry of New and Renewable for Renewable Energy schemes/projects.
- It was established in the year 2011.
- It has awarded Renewable Energy (RE) project capacities of over 56 GW.
- It enjoys the highest credit rating of AAA by ICRA.
- Criteria for grant of Miniratna status to CPSEs
- Miniratna Category-I status: The CPSEs which have made a profit in the last three years continuously, with a pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
- Miniratna Category-II status: The CPSEs which have made a profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
- Miniratna CPSEs should have not defaulted in the repayment of loans/interest payments on any loans due to the Government.
- Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.
Q1) What is a Central Public Sector Enterprise?
A Central Public Sector Enterprise (CPSE) is a government-owned corporation or company in India that is registered under the Companies Act, 1956. These companies are owned and controlled by the Government of India, either wholly or through a majority shareholding.