Oil and Natural Gas Corporation (ONGC)
- Established in 1955 under Jawaharlal Nehru’s Prime Ministership, ONGC began as an Oil and Gas division within the Geological Survey of India.
- Progressing from a Directorate to a Commission named Oil & Natural Gas Commission in August 1956.
- Evolving further, it became a Corporation in 1994 and achieved Navratna status in 1997, later attaining Maharatna status in 2010.
- ONGC holds the position of India’s largest producer of crude oil and natural gas.
- It contributes significantly, approximately 71%, to the country’s domestic oil and natural gas production.
Maharatna Companies in India
Maharatna companies in India are a distinct category among Public Sector Undertakings. The term “Maharatna”, which means “a great jewel” in Hindi, highlights the importance of these companies in the national economy and their impact globally. To have the Maharatna status, companies must meet specific criteria set by the Indian government, including already holding Navratna status, being listed on India’s stock exchange with a minimum prescribed public shareholding, and maintaining strong financial performance.
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