Three major PSUs, Oil & Natural Gas Corporation(ONGC), Indian Oil Corporation (IOC)   and NTPC are formally granted Maharatna Status which enables them to invest in projects worth  up to Rs. 5,000 crore. As ‘Navaratna’ companies their power was only up to Rs.1000 crore. Maharatna status provides greater autonomy and operational flexibility.The conditions for grant of the status are minimum average turnover of Rs. 25,000 crore, net profit of Rs. 5,000 crore for the past continuous three years. It is decided to grant Maharatna status to Steel Authority of India Limited (SAIL) also.

Though BSNL had fulfilled almost all the conditions and is one of the biggest companies, not even Navaratna status was not conferred to it. Ram Vilas Paswan, Communications Minster, when he inaugurated BSNL in October 2000, had assured that it will be granted Maharatna. At that time the name of Maharatna itself was new, the status Navaratna only existing. BSNL is now granted Miniratna status, which is nothing but an insult to such a mega company.