Finance Ministry approves upgradation of Oil India Ltd to 'Maharatna' CPSE

Digital Desk: The Finance Ministry approved the upgradation of Oil India Limited (OIL) to the category of 'Maharatna' Central Public Sector Enterprises (CPSE) category.

13 "Maharatna" CPSEs are currently present in the nation as a result of the government's decision.

According to the information available on the website of the Department of Public Enterprises, Bharat Heavy Electricals Limited (BHEL), Bharat Petroleum Corporation Limited (BPCL), Coal India Limited, GAIL India Limited, Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited, NTPC Limited, Oil & Natural Gas Corporation Limited (ONGC), Power Finance Corporation, Power Grid Corporation of India Limited, Rural Electrification Corporation Limited and Steel Authority of India Limited (SAIL) are already included in this list.

The Department of Public Enterprises confirmed the changes via their official Twitter handle on Thursday, saying, “Union Finance Minister approved upgradation of Oil India Ltd (OIL) to ‘Maharatna’ Central Public Sector Enterprises (CPSE). Among the CPSEs, OIL will be the 13th Maharatna. OIL is a M/o Petroleum & Natural Gas CPSE with an annual turnover of Rs 41,039 crores and net profit of Rs 9854 crores for the YEAR 2022-23.”

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