Union Government granted Miniratna Category-I Status to HSCC

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Who: Union Government
Where: New Delhi
What: Granted Miniratna category-I status to HSCC
When: 1 February 2016

Union Health and Family Welfare Minister JP Nadda on 1 February 2016 awarded the certificate of Miniratna Category-I status to Hospital Services Consultancy Corporation (I) Ltd (HSCC). The honour was awarded to its CMD Gyanesh Pandey at Nirman Bhawan in New Delhi.

It got the status for its consistency in excellent performance in top and bottom-line growth along with its turnover, particularly for the last five years. These status are granted by the Department of Public Enterprises under Union Ministry of Heavy Industries and Public Enterprises.

HSSC is a Public Sector Enterprise under the Union Ministry of Health and Family Welfare since its inception it has been a profit making organisation. As a result, it attained the Miniratna-II status in 2002.

Criteria to award Miniratna Status

Those CPSEs that have shown profits in the last continuous three years and have positive net worth can be considered eligible for grant of Miniratna status.

These are divided in two catergories – I and II.

Miniratna Category-I

CPSEs should have made profits continuously for the last three years otherwise, it should have earned a net profit of 30 crore rupees or more in one of the three years.

The company boards are entitled to invest up to 500 crore rupees or equal to their net worth, whichever is lower without seeking government permission.

Miniratna Category-II

CPSEs should have made profits for the last three years continuously and should have a positive net worth.

The company boards are entitled to invest up to 300 crore rupees or up to 50 percent of their net worth, whichever is lower without seeking government permission.