New Delhi,1 May:The Government of India has conferred “Navratna” status on the Power Grid Corporation of India Ltd. today, the 1st May 2008. The Power Grid Corporation of India Ltd. now becomes the third Navratna CPSE under the Ministry of Power.The conferment of Navratna status is in line with the Government’s policy to allow select Central Public Sector Enterprises becoming significant players in the economic development of the country as global giants. It is also in consonance with the National Common Minimum Programme (NCMP) whereby Government is committed to have a strong and effective public sector. With the grant of this status, Power Grid Corporation of India Ltd. will now have full managerial and commercial autonomy so as to effectively operate in a competitive environment. The Power Grid Corporation of India Ltd. is the Central Transmission Utility of the country and has the responsibility for undertaking transmission of power through inter-State transmission systems.The Ministry of Power now has three Navratna Public Sector Undertakings, NTPC, PFC and Power Grid Corporation of India Ltd.