Source: ET
Context: The Government of India has elevated Oil India Limited to the ‘Maharatna’ category, granting the company enhanced decision-making powers in financial matters.
Oil India has become the 13th Maharatna Central Public Sector Enterprise (CPSE) in India. Having achieved Navaratna status in 2010, Oil India’s recent acquisition of Numaligarh Refinery Ltd. further solidified its position as an integrated energy company.
Also, the government elevated ONGC Videsh Ltd (OVL) to Navratna CPSE. OVL will be the 14th Navratna amongst the CPSEs.
| Criteria for Maharatna Status | Criteria for Navratna Status | Criteria for Miniratna Status |
| 1. Shall have Navratna status | 1. Miniratna Category – I or Schedule ‘A’ CPSEs | Miniratna Category-I status:
· Made profit in the last 3 years continuously · Pre-tax profit is Rs.30 crores or more in at least 1 of the 3 years · Having Positive net worth status |
| 2. Listed on the Indian stock exchange with prescribed public shareholding | 2. ‘Excellent’ or ‘Very Good’ rating in 3 of last 5 years | |
| 3. Average annual turnover > Rs. 25,000 crore (last 3 years) | 3. Composite score of 60 or above in the following 6 performance indicators including Net Profit to Net Worth, Cost of Services, Earning per share, etc. | |
| 4. Average annual net worth > Rs. 15,000 crores (last 3 years) | Miniratna Category-II status:
· Made profit for the last 3 years continuously · Having positive net worth status. · Not defaulted in the repayment of loans/interest payment on any loans due to the Government. · Not dependent upon budgetary support or Government guarantees. |
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| 5. Average annual net profit after tax > Rs. 5,000 crores (last 3 years) | ||
| 6. Significant global presence/international operations |
