The government has tweaked the income tax laws to make it easier for the new owners of loss-making public sector undertakings (PSUs) to carry forward the accumulated losses and set them off against future profits. This will result in significant tax savings for the new owners if they are able to turnaround operations of the ailing PSU within a few years. This will, in turn, boost the post-tax earnings and returns for the new owners.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
They shouted slogans against the signboard when the airport is named after Chhatrapati Shivaji Maharaj.
Puja at the Kedarnath temple is set to resume on September 11. However, the yatra to the battered shrine wouldn't resume this season.
The department of investment and public asset management is scouting for investment bankers and legal advisors to carry forward the transactions.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
Over a month after calamity hit Uttarakhand, the state government has finally prepared a roadmap for clearing tonnes of debris left over by the destruction at Kedarnath and extricating bodies still trapped underneath the rubble at the Himalayan shrine and adjoining areas.
He also expressed doubts about fairness in a Central Bureau of Investigation probe into alleged corruption in the DDCA.
With weather clearing up, relief operations on Sunday gained momentum in Uttarakhand as the government came out with a roadmap for clearing tonnes of debris and extricating bodies in Kedarnath and adjoining areas ravaged by flash floods over a month ago.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Hitting back at Arvind Kejriwal over the DDCA row, Finance Minister Arun Jaitley on Thursday accused him of spreading "false propaganda", saying he seems to believe in untruth and defamation and delivers a language that borders on hysteria.
Kirti Azad, a known detractor of Jaitley, egged on the Congress to seek a time-bound SIT probe.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances