GoI likely to take up Maharatna proposal in next cabinet meet

GoI likely to take up Maharatna proposal in next cabinet meet

"The matter was not taken up in the last Cabinet (meeting). Maybe in the next Cabinet (meeting), that decision will be taken up. They (eligible CPSUs) will be getting that special status," Minister for Heavy Industries and Public Enterprises, Vilasrao Deshmukh told reporters here.

Public sector enterprises, which have an annual net profit of more than Rs 5,000-crore will eligible for Maharatna status, which will empower them to avail special powers including for increased investments, Deshmukh said.

With a view to give more autonomy to CPSUs, The Department of Public Enterprises had sent its proposal to the Cabinet to grant special status to select CPSUs like ONGC, SAIL, BSNL, NTPC and CIL.

Deshmukh said he was hopeful that National Thermal Power Corporation, which is India's largest power company, would soon get the special status once the proposal is cleared by the Cabinet.

"I hope very soon NTPC will get the status. NTPC is one of those companies which could be eligible for that status," the Minister said.

The Government awarded the Navratna status and Mini Ratna status to well-performing PSUs, allowing them greater autonomy to compete in the global market.

There are 18 Navratna firms, which include NTPC, BHEL, BPCL, GAIL, ONGC and MTNL.

The Government has also allowed Mini Ratna status to nearly 41 PSUs, which include Chennai Petroleum Corporation, Goa Shipyard and Container Corporation of India, amongst others.