The Cabinet is expected to clear tomorrow the proposal to grant the coveted 'Maharatna status' to public sector blue-chips like ONGC, SAIL, BSNL, NTPC and CIL giving them increased autonomy.
The proposal for granting the enhanced status to these companies is likely to come up for the consideration of the Cabinet tomorrow, a source said.
These profit-making PSUs may get freedom to take investment decision of up to Rs 5,000 crore without government approval once they are given the Maharatna status. The new tag would also allow them to forge joint ventures, float overseas arms and go for large mergers and acquisitions.
At present, the top performing Central PSUs are called Navratnas. There are 18 such companies and several of them are listed and traded in the stock markets.