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PSU(public sector units)are the government-owned corporations in India, in which 51% or more than 51% of the paid up share capital is owned by government of India. However, it can be only central government or only state government of any state or central government with any state government or state governments.
The status of Maharatna, Navratna, or Miniratna to CPSEe is given by the Department of Public Enterprises to Public Sector Enterprises according to their financial performance and growth.
Moreover, these statuses provide them more autonomy over financial and administrative matters to some extent and enable them to compete with other market players domestically as well as internationally and also awards a prestigious title. These statuses also represent the consistent growth of a company. Here is a brief description about Navratna companies, Maharatna companies, and Miniratna companies.
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