Government of India Confers Maharatna status to four PSUs

The Government of India conferred Maharatna status to four Public Sector Undertakings (PSUs) - Oil and Natural Gas Corporation of India (ONGC) , Indian Oil Corporation Ltd (IOCL), Steel Authority of India Limited (SAIL) and National Thermal Power Corporation( NTPC).

The Maharatna status is given to Navaratna companies those having average turnover of more than twenty five thousand crores annually, five thousand crores of net profit and should have minimum net work of fifteen thousand crores during last three years.

The status to these four PSUs will allow them to decide on investing upto Rs 5,000 crore in one project, where as Navaratna companies can invest Rs. 1,000 crores.