The Cabinet has given a go ahead for the introduction of Maharatna category for Central Public Sector Enterprises, CPSEs. Briefing media,on cabinet meeting today the Information and Broadcasting Minister Mrs. Ambika Soni said that the CPSEs must be Navratna company to get the status of Maharatna category. <br/> <br/>Other conditions are that these companies should be listed on Indian stock exchange with minimum prescribed public share holding under SEBI regulations. They should have an average annual turn over of more than 25 thousand crore rupees, an average annual networth of more than 15 thousand crore rupees and have an average annual net profit of more than 5 thousand crore rupees after tax reductions during the last three years.<br/> <br/>They should also have significant global presence. After getting the Maharatna status the Boards of these CPSEs will get enhanced powers in area of investment in joint ventures as well as creation of below board level posts. They will also be allowed to undertake mergers and acquisitions in India or abroad of 15 percent of networth with the ceiling of five thousand crore rupees. Mrs. Ambika Soni said that the main objective of the Maharatna scheme is to empower the mega public sector enterprises to expand their operations and emerge as global giants. <br/>