Building Blocks Of Indian Economy, Maharatna Companies For Growth And Prosperity
Directly or indirectly, there are some Public Sector Enterprises in India, which have benefited the country and the countrymen alike. These companies have been involved in the economical and social growth of the country, providing people with products and services, which allow them to lead a satisfactory life. Indian government is also getting benefit because of the large-scale revenues it generates by the running of these public sector undertakings.
To provide further growth opportunities and to let them prosper with some autonomy, Indian Government, through the Department of Public Enterprises has conferred the status of Maharatna to a few companies. Maha means large while Ratna is a colloquial term for gems or precious stones. Very truly, these companies have been the gems of Indian society. But the conferring of Maharatna status on these companies, allows them a few independence.
The concept was brought into force in the year 2009, so as to help these PSUs in raising investment ceilings from Rs 1,000 crores to Rs 5,000 crores, without asking the government’s approval. This allowed them a greater power of autonomy.
Presently in India, there are 5 companies, namely Coal India Limited, NTPC, Indian Oil Corporation Limited, Oil and Natural Gas Corporation Ltd and Steel Authority of India Limited, which have been classified as Maharatna companies. These companies had Navratna status, prior to being granted the Maharatna status. Other qualifications associated with these companies are listing in the Indian Stock Exchange, average annual turnover of Rs 20,000 crores for last 3 years, average net worth of Rs 10,000 crores in the last 3 years, annual net profit of Rs 2,500 crores after tax in the last 3 years and finally the need to have a global presence.
Maharatna Companies Recruitment 2013
Indian Oil Corporation Limited – IOCL Recruitment 2013
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NTPC Limited – NTPC Recruitment 2013
Oil & Natural Gas Corporation Limited – ONGC Recruitment 2013
Steel Authority of India Limited – SAIL Recruitment 2013
Coal India Limited – Coal India Limited Recruitment 2013