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.
