Hindustan Aeronautics may be upgraded to Maharatna category by December

State-run Hindustan Aeronautics Limited (HAL) is likely to be upgraded to the category of Maharatna from its current status of Navratna among the Central Public Sector Enterprises (CPSEs) by the end of this calendar year, a senior finance ministry official said.

This would impart greater operational and financial autonomy to the HAL’s board, allowing it to make project investments up to Rs 5,000 crore without seeking government approval. A Navratna, on the other hand, is permitted to make autonomous project investments up to Rs 1,000 crore only.

“There is huge scope for upgrading HAL into the Maharatna