Coal India Ltd (CIL) has been conferred the coveted Maharatna status, giving the world's largest coal producer greater autonomy for taking investment decisions.
Along with CIL, Neyveli Lignite Ltd has also been awarded Navratna status, it was announced at a PSUs' function attended by President Pratibha Patil in New Delhi. Another PSU Pawan Hans Helicopters has received Mini-ratna tag.
"I take this opportunity to compliment the management and employees of CPSEs, who have been felicitated and conferred with Maharatna and Navratna status today," Patil said.
She said that the honour given to these PSUs recognises their performance over the years.
Once a company gets the Maharatna status, its board would not be required to take the government's permission for investments up to Rs 5,000 crore in a joint venture project or wholly-owned subsidiary. For the Navratna companies, the limit is Rs 1,000 crore.
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