Miniratna companies: A proof to India’s developing Economy
Miniratna is a status that is awarded by the Government of India to Central public Sector Enterprises in India to increase the monetary autonomy of the companies. Miniratna companies are divided into ...
• category I, whose companies have the power to acquire capital expenditure on new projects, purchase of equipments, modernization without the nod of Government up to Rs 500 Cr.
• Category II, whose companies have the financial independence to spend up to Rs 300 Cr or 50 % of the net worth whichever is lower.
Miniratna status is awarded to those companies who have made significant profit in last three years and have a net positive worth.
There are 69 companies in total who have been awarded the miniratna status. Some notable companies among those are:
• Airports Authority of India: takes care of all the major airports in India.
• Central coalfields limited: CCL manages the nationalized coal mines of the coal mines authority.
• Bharat Sanchar Nigam Limited: India’s notable telecom communications company.
• Indian Railway Catering & Tourism Corporation limited: takes care of all the railway stations and its services in India
• Cochin shipyard limited: takes care of the largest ship building yard in India.
• Goa shipyard limited: manages one of the largest shipyards in India.
Till 2002 India had only 41 miniratna companies and now the number has risen up to 69 which speak volume about the economic growth of India. These 69 companies provide ample career opportunities to eligible people all across India. These companies publish the jobs required in their companies on their respective websites under “career” option. Various job websites also post on their websites about vacancies in these companies. Several websites have dedicated column in their websites that only displays vacancies in miniratna companies. Newspapers and magazines also post about the job vacancies of these companies. These jobs vary from fitters, clerks, assistants, supervisors, engineers to managers. Miniratna companies recruit freshers as well as experienced people to bolster their companies.
If you are eligible as per the notifications issued on websites then you can fill up the application form and send it to the required address along with the necessary documents. Recruitment procedure mainly consists of a general test and personal interviews. Different companies may have different recruitment procedures and eligibility criteria. You can refer to company’s previous year papers or sample papers to prepare for these tests.
Miniratna companies not only consolidate India’s economy but also provide eligible people with great career opportunities.
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