BEWARE OF FAKE INSTITUTES WITH SIMILAR NAMES. blank    blank
banner

ONGC Videsh Upgraded to a 'Navratna'



  Aug 08, 2023

ONGC Videsh Upgraded to a 'Navratna'


Oil India Ltd (OIL) Upgraded to Maharatna status

 

Q1: What is the significance of ONGC Videsh being upgraded to a 'Navratna' CPSE?

A: The upgrade to 'Navratna' status means that ONGC Videsh will have more autonomy in terms of investment, setting up joint ventures, and making other financial decisions. It will enjoy greater operational and financial freedom within the framework of a Central Public Sector Enterprise (CPSE).
 

Q2: How many Navratna companies does India currently have?

A: India currently has 14 Navratna CPSEs.
 

Q3: What are the criteria for a CPSE to be designated as a Navratna company?

A: The criteria for a CPSE to be designated as a Navratna company include having a miniratna status with four independent board directors. The company must also achieve a score of 60 out of 100 in various parameters, including net worth, net profit, total production cost, manpower cost, service cost, capital employed, and profit before depreciation, interest, and taxes (PBDIT).
 

Q4: What is the annual turnover and net profit of ONGC Videsh for the year 2022-23?

A: ONGC Videsh reported an annual turnover of ₹11,676 crore and a net profit of ₹1,700 crore for the year 2022-23.
 

Q5: How many Maharatna companies does India currently have, and which CPSE recently got upgraded to Maharatna status?

A: India currently has 13 Maharatna companies. Oil India Ltd (OIL) recently got upgraded to a 'Maharatna' CPSE, taking the total number of Maharatna entities to 13.
 

Q6: What are the benefits of a CPSE being designated as a Maharatna company?

A: The Maharatna status provides the state-run company with greater operational and financial autonomy, allowing it to take independent decisions and have more freedom in its functioning.
 

Oil India Ltd (OIL)

 

Q1: What is the significance of Oil India Ltd (OIL) being upgraded to Maharatna status?

A: The upgrade to Maharatna status provides Oil India Ltd with greater operational and financial autonomy. It allows the company to take independent decisions and have more freedom in its functioning within the framework of a Central Public Sector Enterprise (CPSE).
 

Q2: How many Maharatna companies does India currently have?

 
A: India currently has 13 Maharatna CPSEs.
 

Q3: What are the benefits of a CPSE being designated as a Maharatna company?

A: The Maharatna status provides CPSEs with higher levels of operational and financial autonomy. It enables them to make investment decisions, enter into joint ventures, and carry out business activities with more freedom. Additionally, Maharatna status enhances the prestige and recognition of the company in the market.
 

Q4: How does the Maharatna status differ from Navratna status?

A: The Maharatna status is higher than the Navratna status in terms of the level of autonomy and powers granted to the CPSE. While both statuses provide certain privileges, Maharatna companies typically have greater operational and financial freedom compared to Navratna companies. India currently has 14 Navratna CPSEs.


Share:
 

Get a call back

Fill the below form to get free counselling for UPSC Civil Services exam preparation

 
UPSC DAILY CURRENT AFFAIRS

 
INDIA’S CAPITAL MARKET REFORMS
 
ENERGY EFFICIENCY SERVICES LIMITED (EESL)
 
INDIA’S NEED FOR BATTERY STORAGE IN ENERGY TRANSITION
 
DEDICATED FREIGHT CORRIDORS
 
Committee for Base Year Revision of CPI and WPI Price Indices
 
Preserving India’s Ecological Treasures: Biodiversity Heritage Sites
 
Senna Spectabilis: The Invasive Species
 
India Maritime Centre
 
Two faces of the moon and Change 6
 
Sindhu Sarasvati and Indus Sarasvati Civilisation
 
Ladakh's Ancient Rock Art:
 
PARAMARA DYNASTY: CULTURAL CONTRIBUTIONS AND LEGACY
 
PARAMARA DYNASTY: INDIAN HISTORY
 
Circadian Rhythms
 
Morning Sunlight and Circadian Rhythms