In an interview with Mihir Mishra and Jyoti Mukul, Nath, who as the commerce and industry minister in the previous United Progressive Alliance government was part of the fire-fighting to minimise impact of the slowdown, says that the current year will be better than the last year.
The department had earlier also examined the option of a direct equity sale but opted for a PPP model because it offered revenue sharing opportunities, fertiliser secretary Atul Chaturvedi said. Chaturvedi explained that whereas the outright sale of equity will mean the government will have to wait for the plants to make profits to get a share of revenue, the PPP mode will help it do so in the first year.
Permission for dual listing would require full capital account convertibility and therefore changes in regulations under the Foreign Exchange Management Act.
Meeting will confine discussion to processes involved in building consensus among members.
India will be pushing for greater capitalisation of the World Bank at the meeting of G20 finance ministers in London next month. The meeting will precede the Pittsburgh meeting of G20 head of states scheduled later in September.
The delay in the monsoon arrival had caused water storage to touch a historic low of 9 per cent in June (see table), as per data from the Central Water Commission. The latest data of Central Electricity Authority shows daily power availability in the country was 0.7 per cent ahead of demand on August 12 from an 8-10 per cent deficit last month.
India will commission its first 500-Mw fast breeder reactor (FBR) for generating commercial nuclear energy by the end of next year. The reactor, when commissioned, will mark the country's entry into the second phase of its three-stage nuclear energy programme.
Besides doubts relating to round tripping of investments through Mauritius, the proposal was earlier rejected on the ground that there were no details about the offshore entity.
In a written reply to a question asked in Parliament earlier this week, minister of state for power Bharatsinh Solanki admitted that the coal stock position at some of NTPC's power stations had depleted. NTPC Ltd, the country's largest power generator, however, denies any shortage of dry fuel.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
India has managed to create ripples in the global commodities market with countries like the US and China set to follow its benchmark price for potash, a fertiliser widely used in the country. Breaking a well-entrenched global cartel, government-owned Indian Potash Ltd has managed to negotiate a potash deal with Russian company Silvinit at $460 a tonne
Development plan for K-G basin runs for 12 years, so can't supply to RNRL for 17 years, says RIL.
Anil Ambani's Reliance Natural Resources Ltd is laying claim (through a family agreement prior to the group's split) to gas from estranged brother Mukesh Ambani's Reliance Industries Ltd at a fixed price of $2.34 per mBtu
The Union government's six-year initiative to unbundle state electricity boards into separate entities for power generation, transmission, distribution and trading businesses is set to be delayed further, with seven states still to do so, even as the Centre's latest time-limit expired on June 30. After 6 years of pushing, just 14 states have turned these into separate units.
With deficient monsoon reducing hydropower generation in the country by around 40 per cent, the power ministry has started stressing more on power from coal and natural gas.
Sources said the company was likely to be incorporated with the four government companies holding equity in proportion to their profits, implying that the bigger the profit size, the larger their holding. The combined holding is likely to be in the range of Rs 325 crore (Rs 3.25 billion).
the terminal will not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies
Prime Minister Manmohan Singh has asked the Cabinet Committee on Economic Affairs to decide on a Planning Commission proposal to allocate a portion of power generated from Centrally-owned utilities for open access to large consumers.
The company has four lenders -- State Bank of India, IDBI, ICICI and Canara Bank. According to the Reserve Bank of India norms, these loans would be declared as NPAs if the project is not financially restructured by March 31, 2009. The restructuring exercise includes a 50 per cent hike in the tariff for sale of power from the project, to be allowed by the Central Electricity Regulatory Commission. The project is expected to become viable after this.
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