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Maharatna Status
November 10 , 2019
1715 days
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- The union Ministry of Heavy Industries and Public Enterprises accorded 'Maharatna' status to state-owned Hindustan Petroleum and Power Grid Corporation.
- Power Grid Corporation of India Limited is India's largest electric power transmission utility firm.
- As of 23 October 2019, there are 10 Maharatnas, 14 Navratnas and 73 Miniratnas.
Benefits
- Being awarded since 2010, the Status will give them greater operational and financial autonomy.
- It will impart enhanced powers to their boards to take financial decisions.
- The Government raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crores.
- The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project.
Eligibility
- Three years with an average annual net profit of over Rs. 2500 crore, OR
- Average annual Net worth of Rs. 10,000 crore for 3 years, OR
- Average annual Turnover of Rs. 20,000 crore for 3 years (against Rs 25,000 crore prescribed earlier).
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