Why do only a few public sector companies carry statuses like Maharatna, Navratna or Miniratna? Are these titles awarded only to central public sector enterprises? Who grants these titles, and why?

India, June 22 -- Navratna status is a prestigious recognition granted by the Government of India to high-performing public sector enterprises, giving them greater financial and operational freedom.

Union Finance Minister has approved the upgradation of Chennai Petroleum Corporation Ltd to Navratna status. Chennai Petroleum Corporation, a Ministry of Petroleum and Natural Gas central public ...

Garden Reach Shipbuilders & Engineers is a defence public sector undertaking, under the administrative control of Ministry of Defence.