The central government has given the status of Maharatna to Hindustan Aeronautics Limited (HAL). With this, it has become the 14th Central Public Sector Enterprise (CPSE) to achieve this status. This will give the company more freedom to take its own decisions. This information was given by the Department of Public Enterprises on social media on Saturday.
The Maharatna status will further enhance HAL’s operational independence and financial powers, which will lead to the possibility of many good development projects in the future. Now HAL can invest up to 15 per cent of its assets in projects and can invest up to Rs 5,000 crore in foreign ventures without government approval.
The Department of Public Enterprises said in a post on X, the Finance Minister has approved the upgrade of HAL as the 14th Maharatna CPSE. The proposal was earlier recommended by the Inter-Ministerial Committee (IMC) headed by the Finance Secretary and the apex committee headed by the Cabinet Secretary.
Apart from HAL, the 13 Maharatnas include NTPC Limited, Oil and Natural Gas Corporation (ONGC), Steel Authority of India Limited (SAIL), Bharat Heavy Electricals Limited (BHEL), Indian Oil Corporation Limited (IOCL), Hindustan Petroleum, Coal India Limited, GAIL India Limited, Bharat Petroleum Corporation Limited (BPCL), Power Grid Corporation, Power Financial Corporation, Rural Electrification Corporation Limited and Oil India Limited.
