Photo by camTrailsGovernment is considering giving ‘maharatna’ status to big PSUs to provide them greater freedom to take strategic decisions in key areas of investment and mergers and acquisitions.

The plan to create the ‘maharatna’ group among the so-called ‘navaratna’ companies is part of the 100-day agenda of the ministry of heavy industries and public enterprise.

Currently 18 ‘navratna’ companies have financial autonomy to invest up to one thousand crore rupees in setting up joint ventures or subsidiaries abroad and freedom to decide on merger and acquisitions without the government permission.