Depending upon the performance, certain public sector companies in India are given Maharatna status. What enhanced powers are available to these companies with Maharatna status?
1. A Maharatna can invest up to Rs. 5000 crores in a single project without seeking government approval.
2. A Maharanta can create posts up to Executive Director level
Select the correct option from the codes given below:

Answer: [C] Both 1 & 2

The Government has introduced the Maharatna scheme in February, 2010 with the objective to delegate enhanced powers to the Boards of identified large sizes Navratna CPSEs so as to facilitate expansion of their operations, both in domestic as well as global markets. The Maharatna CPSEs in addition to having Navratna powers, have been delegated additional powers in the area of investment in joint ventures/subsidiaries and human resources development. The Maharatna CPSEs can invest Rs. 5000 crores in one project and create below Board level posts upto E-9 level (ie, upto Executive Director level). The Government has conferred Maharatna status to 7 CPSEs namely, (i) Bharat Heavy Electricals, (ii) Coal India Ltd. (iii) GAIL India Ltd. (iv) Indian Oil Corporation Limited, (v) NTPC Limited, (vi) Oil & Natural Gas Corporation Limited and (vii) Steel Authority of India Limited. [Economic Times]

This question is a part of GKToday's Integrated IAS General Studies Module