The fiscal deficit rose primarily on the back of lower non-tax revenues, which came in at 60 per cent of full-year target, compared with 62.4 per cent for the same period last year.
The government is betting on the fact that it will be conducive for the new owner to give voluntary retirement scheme
FPIs are currently capped at 5 per cent of the total outstanding government dated securities, and own 4.5 per cent
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
'We are making a transition from governance to campaign mode.' 'The speed of execution is picking up,' says Union Minister Jayant Sinha.
Grounded Indian planes will be up in air by end of April says company president
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Government to ask airlines to educate flyers. 'It will be an exhaustive charter which will tell the passenger about all their rights, like whether they are eligible for a refund when there is a delay in flight, what to do in case of a flight delay and other in-flight etiquette.'
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
I&B Ministry, Prasar Bharati are in tussle over ministry's directives, reports Shreya Jai and Arindam Majumder.
In contrast to its global peers, a lion's share of Delhi airport's growth came from domestic flyers, which, at 46.6 million, makes up for 73 per cent of the total number of passengers.
The idea is to monitor centrally sponsored schemes, partly funded schemes, loans, programmes and any other endeavour into which funds are pumped.
This move will enable it to incur higher-than-mandated borrowing, and possibly spending, till the 2024 Lok Sabha election cycle.
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.
Accounting for the first Advance Estimates for 2017-18, an additional planned borrowing of Rs 200 billion, the fiscal deficit could come in at 3.35 per cent of GDP.
Modi's 'UDAN' project faces fund crunch as too many airlines have come on board
There have been demands from a section of stakeholders that the long-term capital gains tax on equities be reimposed.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
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