Photo by camTrailsThe government is actively considering the designation of 'maharatna' status for major Public Sector Undertakings (PSUs) to enhance their capacity for making strategic choices in significant domains related to both investment and mergers and acquisitions.
This initiative to establish a 'maharatna' category among the existing 'navaratna' companies aligns with the 100-day action plan set forth by the Ministry of Heavy Industries and Public Enterprises.
At present, there are 18 'navaratna' companies that possess the financial independence necessary to invest up to 1,000 crore rupees in forming joint ventures or subsidiaries overseas. Moreover, they are permitted the liberty to decide on mergers and acquisitions without requiring prior approval from the government.