The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed with regard to the valuation of LIC, a senior official of one of the merchant bankers said. Even after the valuation, there are several regulatory processes that have concluded, the official said.
Cracking down further on hoarding, the Centre on Wednesday put onion and potato under purview of the Essential Commodities Act and imposed stock holding limits in a bid to improve availability and rein in prices.
The decision will help farmers earn an additional income of Rs 62,635 crore
Chidambaram's son Karti has been questioned twice by the ED in this case.
Among the panels announced on Thursday is the Appointments Committee of Cabinet (ACC) to be headed by the prime minister with Shah as the other member.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
This is the second time the former finance minister has got relief from arrest.
The airline hopes to gain credibility in the market with infusion.
The Oil Ministry is seeking Cabinet nod to allow Reliance Industries to retain three gas discoveries worth $1.45 billion in the eastern offshore KG-D6 block even after expiry of timelines.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
It is understood that the agency wanted to put a fresh set of questions to him regarding the deal and hence had asked him to appear.
The Bill seeks to give Sebi sweeping powers like attachment of properties and launch of recovery proceedings.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
'The AMs are a different beast and reflect the political play within the government.' 'Prime Minister Modi does not need to assuage any interest group to take the final call on any decision that belongs rightfully to the Cabinet,' points out Subhomoy Bhattacharjee.
Besides facilitating travel by easing the traffic bottlenecks, the approved lines would help the upcoming industries in the region.
While markets are upbeat over the government decision to nearly double the price of domestically produced natural gas, industry wants it to clearly lay the roadmap for free market pricing regime.
In a bid to encourage the fertiliser industry to increase its production volumes, the government has extended the system of actual freight reimbursement to all types of fertilisers. Currently, only urea enjoys this concession.
The Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a slew of social sector initiatives, including treating the backlog of reserved vacancies of other backward classes (OBCs) as a distinct group not subject to the limit of 50 per cent reservation in a year.
"As FM, I granted approval in the normal course of business," he said in a statement.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
The establishment of these medical colleges will add at least 15,700 MBBS seats in the country.
Both industrial and domestic consumers will have to shell out more money for electricity following a hefty 14 per cent hike in the royalty that states charge on coal, the major input for power generation.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
An expert panel approved policy for development of gas fields.
The Cabinet Committee on Economic Affairs on Wednesday deferred a decision on the package on pricing and distribution of sensitive petroleum products.
The Cabinet Committee on Economic Affairs did not take up the issue of hike in petroleum prices on Thursday, Commerce Minister Kamal Nath said.
FIPB has deferred 18 proposals.
The government has approved a hike in natural gas prices by 12 per cent to Rs 3,200 per thousand standard cubic meters from Rs 2,850 for power and fertiliser units.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
The Cabinet Committee on Economic Affairs on Saturday cleared ONGC Videsh Ltd's proposal to acquire stake in two oil blocks in Sudan.
After nearly five months wait, the government on Friday cleared UK's BP Plc buying 30 per cent stake in most of Reliance Industries' oil and gas blocks, including the showpiece KG-D6 gas fields, for $7.2 billion.
With a spate of clearances, including relief to companies facing delays in development of coal mines, the government is getting its act together.
The Union Cabinet on Thursday cleared the Rs 2,058 crore (Rs 20.58 billion) stake sale deal between Jet Airways and Abu Dhabi carrier Etihad.
If approved, gas price will rise to $6.775 per million British thermal unit from $4.2 currently.
Levy-sugar mechanism dismantled; govt to compensate states for supplying cheap sweetener via ration shops.
CCI, sector regulators may consult each other if jurisdictions overlap
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