The term "Miniratna" refers to a category of public sector enterprises in India that are recognized for their financial performance and operational efficiency. These companies are granted certain privileges and autonomy to enhance their competitiveness and decision-making capabilities. The Miniratna status is awarded by the Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises. Miniratna companies are classified into two categories: Category I and Category II. Category I companies can incur capital expenditure without government approval, while Category II companies have a lower threshold for such expenditures. This status aims to empower these enterprises, enabling them to operate more effectively in the market while contributing to the Indian economy.