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Government confers Maharatna status to Hindustan Petroleum

With this, HPCL is set to become the tenth Maharatna PSUs.

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By Newsd
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The Ministry of Petroleum & Natural Gas approved the proposal for grant of Maharatna status to Hindustan Petroleum Corporation Limited, an office memorandum dated October 23rd read.

With this, HPCL is set to become the tenth Maharatna PSUs.

Here is the complete list of companies/PSUs that fall under the Maharatna status

  • Bharat Heavy Electricals Limited (BHEL)
  • Coal India Limited (CIL)
  • Gas Authority of India Limited (GAIL)
  • Indian Oil Corporation Limited (IOCL)
  • National Thermal Power Corporation Limited (NTPC)
  • Oil and Natural Gas Corporation Limited (ONGC)
  • Steel Authority of India Limited (SAIL)
  • Bharat Petroleum Corporation Limited (BPCL)
  • Hindustan Petroleum
  • Power Grid Corporation Of India Limited (POWERGRID)

Eligibility for Maharatna category: 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).

The government introduced the Maharatna scheme from May 2010, to empower mega central public sector enterprises to expand and emerge as global giants. A decision on this status is taken first by an inter-ministerial committee (IMC), which has the secretaries of DPE, the department of expenditure, of the ministry concerned and a Niti Aayog representative. After this, by a panel headed by the cabinet secretary. A final call will be taken by the minister of HI & PE.

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