BHEL and SAIL face Maharatna downgrade over ₹5,000 cr benchmark
Business
BHEL and SAIL might soon lose their Maharatna status because they haven't hit the government's profit benchmark, an average ₹5,000 crore annual profit after tax over the last three years.
Out of 14 top public sector companies with this title, these two are the only ones falling short.
BHEL, SAIL risk ₹1,000 cr cap
Losing this status would seriously limit their freedom to make big business moves, dropping their investment cap from ₹5,000 crore to just ₹1,000 crore.
The government is also tightening rules for all public sector firms and asking for revival plans for BHEL and SAIL.
Plus, stricter penalties are on the way for breaking CSR or MSME procurement rules, so accountability is getting a major upgrade across the board.