The Department of Public Enterprises under the Ministry of Finance has upgraded Chennai Petroleum Corporation Ltd (CPCL) as India's 28th Navratna company and Garden Reach Shipbuilders & Engineers Ltd (GRSE) as the 29th Navratna Central Public Sector Enterprise (CPSE).
Following this, both Public Sector Undertakings (PSUs) can invest up to Rs 1,000 crore or 15% of their net worth on a single project without prior approval from the central government.