BHEL, GAIL gets Maharatna PSU status

Government granted Maharatna status to BHEL and GAIL, a development which will provide them greater financial and functional autonomy and also ensure better valuation for shares of the two public sector undertakings. "The competent authority has approved the grant of Maharatna status for BHEL and GAIL which will give these public sector units greater financial autonomy," secretary in the department of public enterprises (DPE) O P Rawat told PTI. A Maharatna firm can take investment decision of up to Rs. 5,000 crore without going to the government. This limit is Rs. 1,000 crore for Navratna firms.