Finance Minister Approves HAL's Upgrade to Maharatna Status as India's 14th CPSE

Oct 12, 2024, 08:52 AM

India's Finance Minister has approved the upgradation of Hindustan Aeronautics Limited (HAL) to Maharatna status, making it the 14th Central Public Sector Enterprise (CPSE) to receive this designation. The proposal was announced by the Department of Public Enterprises and was recommended by an Inter-Ministerial Committee led by the Finance Secretary and an Apex Committee headed by the Cabinet Secretary. Defence Minister Rajnath Singh congratulated HAL on this achievement. The Maharatna status grants HAL greater financial and operational autonomy, bolstering its position in the aerospace and defense industries.