The government has conferred the Mini-ratna II status to National Small Industries Corporation (NSIC), providing it greater financial autonomy. Speaking to reporters on the sidelines of a function, Micro, Small and Medium Enterprises Minister, Virbahdra Singh said a Mini-ratna II company can incur capital expenditure on new projects, modernisation and purchase of equipment without the government approval up to 150 crore rupees or up to 50 per cent of their net worth, whichever is lower. Mr Singh said NSIC has been made a Mini-ratna company because of its persistent good performance. NSIC has been working towards promotion and fostering growth of small scale industries and micro, small and medium enterprises in the country.