Which public sector enterprise has the status of Maharatna?

The correct answer is Indian Oil Corporation Limited.

Important Points

• In India, Central Public Sector Enterprises (CPSEs) are classified under three different categories.
  1. Maharatna.
  2. Navratna.
  3. Miniratna.
• The eligibility criteria for a company to be listed under Maharatna status are:
  • Rs. 5,000 crores of net profit for three consecutive years,
  • an average annual turnover of Rs. 25,000 crore for three years or
  • should have an average annual net worth of Rs. 15,000 crore for three years.
• The Ministry of Heavy Industries and Public Enterprises is in charge of Central Public Sector Enterprises.
• The Ministry of Finance's Department of Public Enterprises (DPE) is the nodal department for all Central Public Sector Enterprises (CPSEs).
• As of June 2023, there are 12 Maharatna central public sector enterprises in India.
  1. Bharat Heavy Electricals Limited.
  2. Bharat Petroleum Corporation Limited.
  3. Coal India Limited.
  4. GAIL (India) Limited.
  5. Hindustan Petroleum Corporation Limited.
  6. Indian Oil Corporation Limited.
  7. NTPC Limited.
  8. Oil & Natural Gas Corporation Limited.
  9. Power Grid Corporation of India Limited.
  10. Steel Authority of India Limited.
  11. Power Finance Corporation Limited.
  12. Rural Electrification Corporation (REC) 

Key Points

• IOCL (Indian Oil Corporation Limited) is the country's largest commercial oil corporation.
  • Indian Oil Corporation Limited is listed under  Maharatna CPSEs.
  • It is owned by the Ministry of Petroleum and Natural Gas.
  • Indian Oil has branched out into alternative energy and downstream operations globalisation.
  • It has subsidiaries in Sri Lanka, Mauritius, the United Arab Emirates, Singapore, Sweden, the United States of America, and the Netherlands.

Additional Information

• The Indian Railway Catering and Tourism Corporation (IRCTC) is a government-owned company in India that offers ticketing, catering, and tourism services to Indian Railways.
  • IRCTC is listed under Miniratna I CPSEs.
• Hindustan Aeronautics Limited (HAL) is an Indian state-owned aerospace and defence company and one of the oldest and largest aerospace and defence manufacturers in the world today.
  • Hindustan Aeronautics Limited is listed under Navratna CPSEs.
• The Airports Authority of India (AAI) is a statutory agency that is governed by the Directorate General of Civil Aviation of the Ministry of Civil Aviation of the Government of India.
  • The Airports Authority of India (AAI) is listed under Miniratna I CPSEs.