Ananya Gupta
August 31, 2023 12:42
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List of Maharatna Companies in India 2023: To learn more about the comprehensive list of Maharatna Companies in India for the year 2023 for UPSC examinations.
Maharatna Companies in India 2023: In India, the list of Navratna and Maharatna companies for the year 2023 comprises Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs), or State Level Public Enterprises (SLPEs). The Ministry of Heavy Industries and Public Enterprises oversees CPSEs, while all Central Public Sector Enterprises fall under the jurisdiction of the Department of Public Enterprises (DPE). The DPE is responsible for creating CPSE policies, which primarily involve matters related to staff management, financial independence, and enhancing performance assessment and growth. As of December 2022, there are a total of 14 Navratna Companies and 12 Maharatna Companies in India. Maharatna Companies in India are big and important companies owned by the government. These companies are considered special because they have a significant impact on the country’s economy. They are given this special status because of their size, performance, and influence in various industries.
In India, the formation of all government-owned enterprises is regulated by the Companies Act of 2013. The establishment of Indian Public Sector Undertakings (PSUs) falls under Section 8 of this Act. Companies are classified as Maharatna Companies based on predefined goals encompassing both financial and non-financial aspects. Here are the criteria that an entity must satisfy to be recognized as a Maharatna Company.
Meeting these criteria is essential for a company to be recognized as a Maharatna Company in India.
Maharatna Companies in India receive certain special advantages due to their significant size and impact. Some of these benefits include:
Maharatna Companies are a special category of public sector enterprises in India that have been granted certain enhanced privileges and autonomy due to their significant size, financial performance, and influence in various industries. These companies are considered leaders in their respective sectors and play a crucial role in the country’s economic growth and development. Here are the Maharatna Companies in India:
| List of 10 Maharatna Companies 2023 | ||
|---|---|---|
| S.No. | Company Name | Year |
| 1 | Oil and Natural Gas Corporation (ONGC) | 1956 |
| 2 | Bharat Heavy Electricals Limited (BHEL) | 1964 |
| 3 | National Thermal Power Corporation (NTPC) | 1975 |
| 4 | Steel Authority of India Limited (SAIL) | 1964 |
| 5 | Indian Oil Corporation Limited (IOCL) | 1959 |
| 6 | Bharat Petroleum Corporation Limited (BPCL) | 1952 |
| 7 | Hindustan Petroleum Corporation Limited (HPCL) | 1974 |
| 8 | Power Grid Corporation of India | 1989 |
| 9 | Coal India Limited (CIL) | 1975 |
| 10 | Gas Authority of India Limited (GAIL) | 1984 |
| 11 | Rural Electrification Corporation (REC) | 1969 |
| 12 | Power Finance Corporation | 1986 |
1.Oil and Natural Gas Corporation (ONGC)-ONGC is India’s largest exploration and production company in the oil and gas sector. It is involved in the exploration, production, and distribution of oil and gas resources.
2.Bharat Heavy Electricals Limited (BHEL)- BHEL is a prominent engineering and manufacturing company specializing in power equipment, industrial products, and systems. It contributes to India’s power generation and infrastructure development.
3.National Thermal Power Corporation (NTPC)- NTPC is a leading power generation company in India with a focus on clean and sustainable energy production. It operates numerous thermal, hydro, and renewable energy projects.
4.Steel Authority of India Limited (SAIL)- SAIL is a major steel-making company in India, owning and operating various steel plants across the country. It plays a significant role in the development of the steel industry.
5.Indian Oil Corporation Limited (IOCL)-IOCL is a major oil and gas company involved in refining, marketing, and distribution of petroleum products. It operates several refineries and has a significant presence in the energy sector.
6.Bharat Petroleum Corporation Limited (BPCL)- BPCL is a leading oil and gas company involved in refining, marketing, and distribution of petroleum products. It operates several refineries and retail outlets.
7.Hindustan Petroleum Corporation Limited (HPCL)-It is engaged in refining, marketing, and distribution of petroleum products. HPCL operates two major refineries in Mumbai and Visakhapatnam, producing a wide range of petroleum products including gasoline, diesel, LPG, aviation turbine fuel, and more. The company also has a significant presence in the petrochemicals sector and is involved in various initiatives to enhance its energy and environmental sustainability.
8.Power Grid Corporation of India- Power Grid is responsible for the transmission and distribution of electricity across the country. It plays a vital role in ensuring a reliable power supply.
9.Coal India Limited (CIL)-CIL is the largest coal-producing company in the world and contributes significantly to India’s energy needs. It operates numerous coal mines across the country.
10.Gas Authority of India Limited (GAIL)-GAIL is a natural gas processing and distribution company that plays a crucial role in the development of the natural gas sector in India.
11.Rural Electrification Corporation (REC)-Rural Electrification Corporation (REC) is a government-owned financial institution in India that focuses on providing financial assistance for rural electrification projects and initiatives.
12.Power Finance Corporation-Is a government-owned financial institution in India that specializes in providing financial assistance for the development and expansion of the power sector in the country. Established in 1986, PFC plays a crucial role in funding and supporting power projects, both in the public and private sectors.
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