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enterprise. These companies are owned by the union government of India, or one of the many state or
territorial governments, or both. The company stock needs to be majority-owned by the government to
be a PSU. PSUs may be classified as Central Public Sector Enterprises (CPSEs), public sector banks
(PSBs) or State Level Public Enterprises (SLPEs).
CPSEs are companies in which the direct holding of the Central Government or other CPSEs is 51% or
more. They are administered by the Ministry of Heavy Industries and Public Enterprises.
History :When India achieved independence in 1947, India was primarily an agricultural country with a weak
industrial base. The national consensus was in favour of rapid industrialisation of the economy which
was seen as the key to economic development, improving living standards and economic sovereignty.
Building upon the Bombay Plan, which noted the requirement of government intervention and
regulation, the first Industrial Policy Resolution announced in 1948 laid down broad contours of the
strategy of industrial development. Subsequently, the Planning Commission was constituted in March
1950 and the Industrial (Development and Regulation) Act was enacted in 1951 with the objective of
empowering the government to take necessary steps to regulate industrial development.
Prime Minister Jawaharlal Nehru promoted an economic policy based on import substitution
industrialisation and advocated a mixed economy.
He believed that the establishment of basic and heavy industry was fundamental to the development
and modernisation of the Indian economy. India's second five year plan (195660) and the Industrial
Policy Resolution of 1956 emphasized the development of public sector enterprises to meet Nehru's
national industrialisation policy. Indian statistician Prasanta Chandra Mahalanobis was instrumental to
its formulation, which was subsequently termed the FeldmanMahalanobis model.
The major consideration for the setting up of PSUs was to accelerate the growth of core sectors of the
economy; to serve the equipment needs of strategically important sectors, and to generate employment
and income. A large number of "sick units" were taken over from the private sector. Additionally, Indira
Gandhi's government nationalised fourteen of India's largest private banks in 1969, and an additional
six in 1980. This government-led industrial policy, with corresponding restrictions on private
enterprise, was the dominant pattern of Indian economic development until the 1991 Indian economic
crisis. After the crisis, the government began disinvesting its ownership of several PSUs to raise capital
and privatise companies facing poor financial performance and low efficiency
Governance :Various PSUs have been awarded additional financial autonomy. These companies are "public sector
companies that have comparative advantages", giving them greater autonomy to compete in the global
market so as to "support [them] in their drive to become global giants".
Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997.
Originally, the term Navaratna meant a talisman composed of nine precious gems. Later, this term was
adopted in the courts of Gupta emperor Vikramaditya and Mughal emperor Akbar, as the collective
name for nine extraordinary courtiers at their respective courts.
In 2010, the government established the higher Maharatna category, which raises a company's
investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.
The Maharatna firms can now decide on investments of up to 15 per cent of their net worth in a project
while the Navaratna companies could invest up to Rs 1,000 crore without explicit government
approval. Two categories of "Miniratnas" afford less extensive financial autonomy.
Maharatna
Navratna
Eligibility
Miniratna
Category-I
Miniratna
Category-II
Have
made
profits
continuously for
the last three
years or earned
a net profit of
Rs. 30 crore or
more in one of
the three years
up to Rs. 500
crore or equal to
their net worth,
whichever
is
lower
. up to Rs. 300
crore or up to 50%
of their net worth,
whichever is lower
Criteria for grant of Maharatna status :The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna
status.
(i)
(ii) Listed on Indian stock exchange with minimum prescribed public shareholding under
SEBI regulations.
(iii) Average annual turnover of more than Rs. 25,000 crore, during the last 3 years.
(iv) Average annual net worth of more than Rs. 15,000 crore, during the last 3 years.
(v) Average annual net profit after tax of more than Rs. 5,000 crore, during the last 3
(vi) Should have significant global presence/international operations.
years.
this coveted status amongst every central CPSEs. GAIL has been registered in the 131st position among
India's Most Trusted brands as indicated by the Brand Trust Report 2014, a study directed by Trust
Research Advisory.
GAIL (India) Ltd is India's leader Natural Gas Company, integrate all parts of the Natural Gas quality
chain (counting Exploration & Production, Processing, Transmission, Distribution and Marketing) and
its related services. The company is a coordinated vitality company along the Natural Gas value chain
with global footprints. They have interest in the matter of natural gas, LPG, Liquid Hydrocarbons and
Petrochemicals. They have likewise differentiated into Exploration & Production, City Gas Distribution
and are regularly expanding their overseas presence.
Their different business incorporates giving consultancy, project management and guidance, oil and gas
exploration, and coal mining. The company provides 28.6% of the corporate power generation of India.
They were positioned 317th in the '2009, Forbes Global 2000' locate of the World's greatest companies.
Year of Establishment
JAN, 1964
01.11.1975
16.08.1984
01.09.1964
07.11.1975
14.08.1956
24.01.1973
Research Methodology
Bharat
Heavy
Electricals
JAN,
1964
Limited
7
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
01.02.2013
11.11.1997
15
years
3
months
47333
4022
8.50
Indian
Oil
Corporation
Limited
01.09.1964
19.05.2010
22.07.1997
447096
5005.17
1.12
NTPC
Limited
07.11.1975
67930.81
12619
18.58
Oil
Corporation
&
Natural
Gas
14.08.1956
82552
20926
25.35
Steel
Authority
of
India
24.01.1973
12
10
months
49350
2170.35
Name
of
the
CPSEs
Year
of
Establishment
status
Date
of
status
Time
Maharatna
taken
status
to
get
from
Turnover
Navaratna
(201213)
in
crores
Profit
Tax(2012-13)
After
in
%
crores
Profit
Bharat
(2012-13)
Heavy
Electricals
JAN,
1964
Limited
7
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
01.02.2013
11.11.1997
15
3
months
47333
4022
8.50
Indian
Oil
Corporation
01.09.1964
Limited
447096
5005.17
1.12
NTPC
Limited
07.11.1975
19.05.2010
22.07.1997
12
years
10
months
67930.81
12619
18.58
Oil
Corporation
&
Natural
Gas
14.08.1956
82552
20926
25.35
Steel
Authority
of
India
24.01.1973
49350
2170.35
Name
4.40
of
the
CPSEs
Year
of
Establishment
Date
status
of
Time
taken
status
to
get
Maharatna
Navaratna
status
from
Turnover
13)
(2012Profit
in
crores
After
in
Tax(2012-13)
crores
%
(2012-13)
Profit
Bharat
Electricals
Heavy
Limited
JAN,
1964
01.02.2013
15
7
months
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
11.11.1997
3
47333
4022
8.50
Indian
Oil
Corporation
01.09.1964
447096
5005.17
1.12
NTPC
Limited
07.11.1975
67930.81
12619
18.58
Oil
&
Natural
Gas
Corporation
14.08.1956
22.07.1997
12
years
10
months
82552
20926
25.35
Steel
Authority
of
India
24.01.1973
Limited
19.05.2010
49350
2170.35
4.40
Name
of
the
CPSEs
Year
of
Establishment
status
Date
of
status
Time
Maharatna
taken
status
to
get
from
Turnover
Navaratna
(201213)
in
crores
Profit
Tax(2012-13)
After
in
%
crores
Profit
Bharat
(2012-13)
Heavy
Electricals
JAN,
1964
Limited
7
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
01.02.2013
11.11.1997
15
years
3
months
47333
4022
8.50
Indian
Oil
Corporation
01.09.1964
447096
5005.17
1.12
NTPC
Limited
07.11.1975
67930.81
12619
18.58
Oil
Corporation
&
Natural
Gas
14.08.1956
82552
20926
25.35
Steel
Limited
Authority
of
India
24.01.1973
19.05.2010
22.07.1997
12
10
months
49350
2170.35
Name
4.40
of
the
CPSEs
Year
of
Establishment
Date
status
of
Time
taken
status
to
get
Maharatna
Navaratna
status
from
Turnover
13)
(2012Profit
in
crores
After
in
Tax(2012-13)
crores
%
(2012-13)
Profit
Bharat
Electricals
Heavy
Limited
JAN,
1964
7
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
01.02.2013
11.11.1997
15
3
months
47333
4022
8.50
Indian
Limited
Oil
Corporation
01.09.1964
19.05.2010
22.07.1997
12
years
10
months
447096
5005.17
1.12
NTPC
Limited
07.11.1975
67930.81
12619
18.58
Oil
&
Natural
Gas
Corporation
14.08.1956
82552
20926
25.35
Steel
Authority
of
India
24.01.1973
49350
2170.35
4.40
MAHARATNA
COMPANIES
Name
of
the
CPSEs
Year
of
Establishment
status
Date
of
status
Time
Maharatna
taken
status
to
get
from
Turnover
Navaratna
(201213)
in
crores
Profit
Tax(2012-13)
After
in
%
crores
Profit
Bharat
(2012-13)
Heavy
Electricals
JAN,
1964
Limited
01.02.2013
22.07.1997
15
years
7
months
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
6
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
11.11.1997
3
47333
4022
8.50
Indian
Oil
Corporation
01.09.1964
Limited
447096
5005.17
1.12
NTPC
Limited
07.11.1975
12
10
months
67930.81
12619
18.58
Oil
Corporation
&
Natural
Gas
14.08.1956
19.05.2010
22.07.1997
82552
20926
25.35
Steel
Authority
of
24.01.1973
49350
2170.35
Bharat
4.40
Heavy
Electricals
JAN,
Limited
7
50156
6615
13.19
Coal
India
Limited
01.11.1975
11.04.2011
24.10.2008
2
years
63
months
88281
17356
19.66
GAIL
(India)
Limited
16.08.1984
01.02.2013
11.11.1997
15
years
months
47333
4022
8.50
Indian
Oil
Corporation
01.09.1964
Limited
19.05.2010
22.07.1997
447096
5005.17
1.12
NTPC
Limited
07.11.1975
67930.81
12619
18.58
Oil
Corporation
&1964
Natural
Gas
14.08.1956
82552
20926
25.35
Steel
Authority
of India
India
24.01.1973
12
10
months
49350
2170.3