SAIL, ONGC, IOC, NTPC may get Maharatna tag

Four public sector giants — ONGC, Steel Authority of India Ltd (SAIL), Indian Oil Corp (IOC) and National Thermal Power Corp (NTPC) — were likely to get in next ten days the Maharatna status, which would empower these Public Sector Undertakings (PSUs) with greater autonomy, a top government official said today.

“We hope to confer Maharatna status in about 10 days ... as of now four appear to be there,” the Secretary, Department of Public Enterprises, Bhaskar Chatterjee told reporters on the sidelines of a CII summit.

Asked if SAIL, ONGC, and NTPC are likely to make the cut to be in the Maharatna category, he said, “Yes, these are there and also Indian Oil Corporation.” Under the new status, PSUs will get more autonomy and can take investment decisions up to Rs 5,000 crore without the government approval against the present limit of Rs 1,000 crore.