Hindustan Aeronautics Limited (HAL) Achieves Maharatna Status, Becoming the 14th CPSE.

National

On 12 October 2024, the Department of Public Enterprises (DPE) under the Ministry of Finance (MoF) upgraded the status of Hindustan Aeronautics Limited (HAL) from "Navratna" to "Maharatna" Central Public Sector Enterprise (CPSE).


      - The Hon'ble Finance Minister has approved the upgradation of Hindustan Aeronautics Limited (HAL) to the 14th #Maharatna CPSE.

      - This proposal was previously recommended by the Inter-Ministerial Committee (IMC) chaired by the Finance Secretary.

     

Main Points:-   (i) (i) HAL is a major player in the Indian aerospace and defense sector. It has received multi-million dollar contracts from international aerospace firms such as Airbus, Boeing and Honeywell to manufacture aircraft engines and spare parts.

      (ii) With its new Maharatna status, HAL gains increased operational autonomy and financial powers, allowing it to invest up to 15% of its net worth in projects and a maximum of Rs 5,000 crore in foreign ventures without requiring approval from the Government of India (GoI).


About Hindustan Aeronautics Limited (HAL)

CMD : Dr. D.K. Sunil
Headquarters: Bengaluru
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