Q.What are Navratna and Miniratna companies? Why were these categories created?

Navratna and Miniratna are categories given to well-performing public-sector enterprises, granting them greater financial and managerial autonomy without full privatisation. …

As part of the broader reform of the public sector after 1991, the government recognised that not every PSU needed to be privatised — some were already performing well and simply needed more freedom to compete effectively with private firms. To address this, the government created special status categories:

• Navratna ("nine gems") status is given to large, financially strong and well-managed PSUs, granting them significantly greater autonomy — for example, the ability to make sizeable capital investments, form joint ventures, and take certain operational decisions without seeking prior government approval each time.
• Miniratna status is a similar but somewhat more limited form of autonomy given to smaller but still profitable and well-run PSUs. …

Assuming Navratna/Miniratna companies have been privatised — they remain government-owned; only …