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Government considering Maharatna status for BHEL & GAIL

By Religare

Government considering Maharatna status for BHEL & GAIL
The government of India has said that an inter-ministerial committee is looking into a proposal to give Maharatna status to BHEL and GAIL.

It is also considering Navratna status for Engineers India Ltd (EIL), Mazagaon Dock Ltd., Rashtriya Chemicals and Fertilizers (RCF).

In a written reply to Lok Sabha, Praful Patel, Minister of Heavy Industries and Public Enterprises said, "The Inter-Ministerial Committee (IMC) has already considered the proposals for grant of Navratna status to EIL and RCF and grant of Maharatna status to BHEL and GAIL."

The proposal to grant Navratna and Maharatna status to the Central Public Sector Enterprise (CPSE) is initially considered by the Inter-Ministerial Committee headed by the DPE Secretary and thereafter by the apex committee headed by cabinet secretary.

To be eligible for the grant of the Maharatna status, the company should have an average turnover of over Rs 25,000 crore, average annual net worth of more than Rs 15,000 crore and average annual net profit of over Rs 5,000 crore during the last three years.

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