What is Maharatna category?
Table of Contents
What is Maharatna category?
The Maharatna Status The following conditions must be satisfied in order to get Maharatna status: The Average annual turnover of the PSU during the last 3 years is more than Rs. 25,000 crore. The Average annual net worth during the last 3 years is more than Rs. 15,000 crore.
How many navratnas are there?
There are 14 Central Public Sector Enterprises that have been designated as Navratna Companies under the Government of India’s criteria.
The government grants the status of Navratna, Miniratna and Maharatna to Central Public Sector Enterprises (CPSEs) based upon the profit made by these CPSEs. These companies are owned and operated by the Union Government of India, or a state government, or both.
What is the difference between Navaratna and Maharatna status?
In 2009, the government established the Maharatna status, which raises a company’s investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore. The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project; the Navaratna companies could invest up to Rs 1,000 crore without explicit government approval.
How to become a Maharatna company in India?
To get to the status of Maharatna, a Navratna must have an annual profit of more than 5000 crores, a net worth of Rs. 15000 crores, and a turnover of Rs. 25,000 crores in the last three years. In India, there are just 4 companies that have been conferred the title of Maharatna, and they are IOCL, NTPC, ONGC, and SAIL.
How many navratnas are there in India?
There are currently 7 Maharatnas, 14 Navratnas and 53 Miniratnas-I and 16 Miniratna-II. There are multiple factors and criterias for granting ‘ratna’ status. However, major criteria of awarding status are:
There are many Central Public Sector Enterprises (CPSE) which are functioning under Government of India and Navratna, Miniratna and Maharatna are the three terms which government uses to categorize all those CPSEs.