The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
The government is planning to liberalise the terms and conditions for the sale of the national carrier. The Centre is still pursuing the option of selling the airline's subsidiaries before the airline itself, in order to deal with an outstanding debt of around Rs 27,000 crore.
Tuesday's meeting at the PM's residence, attended by all the five secretaries in the finance ministry besides top officials of other economic ministries and NITI Aayog, cleared a five-year vision plan for the government to make India a $5-trillion economy by 2024.
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Budget-makers in North Block are looking to maintain this fiscal status quo, in spite of tax revenues nowhere close to where the government wants and in spite of possible higher expenditure commitments.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Maruti's exports in May were down 2.4% at 9,089 units
National artificial intelligence unit stuck for lack of anchor department
This is not her first stint in North Block or in leading a major economic ministry. She started Prime Minister Narendra Modi's first term as minister of state for finance, was made the commerce minister, and then became the defence minister.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
The incoming government will have to encourage private investments, bring down cost of capital
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
The election campaign finally ended on Friday, May 17. Arindam Majumder reveals what he discovered on the election front on a long rail journey.
The business of volume can be a win or a loss for a sugar mill as India's sugar market is heavily controlled by the government.
Sources involved in the bidding process confirmed that the entity had submitted a bid but expressed doubt over its acceptance
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