The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
Given Narendra Modi's trust in him, Praful Khoda Patel is unlikely to back down in Lakshadweep.
A high pressure, highly inflammable gas leak was on Saturday reported at a well state-owned ONGC was drilling at its prime Mumbai High oil and gas fields, off Mumbai coast.
A Pawan Hans helicopter on Tuesday made an emergency landing on a road due to inclement weather at Gohpur Balijan in Sonitpur district near the Assam-Arunachal Pradesh border.
The President has accepted many other recommendations, including making announcements on Indian aeroplanes in Hindi followed by English.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
As the weather cleared in the morning, Navy, Coast Guard, Air Force and Union Territory administration started a joint evacuation drive and brought back all stranded tourists to Port Blair from Havelock and Neil islands of the Andaman and Nicobar archipelago.
A large Dhruv order could significantly boost Indian defence exports. These have grown from Rs 1,940 crore in 2014-2015 to Rs 10,745 crore in 2018-2019.
Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.
The bus, which way on its way to Kishtwar from Keshwan, skidded off the road at Sirgwari and rolled down into the gorge around 7:30 am.
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
'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.'
The government sought exemption of women drivers from the scheme, saying it may affect the safety and security of women.
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
As Kashmir valley remains under flood water, Air India has decided to ferry free of cost tourists trapped in Srinagar while Gujarat and Bihar governments are sending 75,000 food and dry food packets for affected people.
An overcast sky and low visibility at places on Wednesday did not come in the way of air rescue operations in rain-hit Uttarakhand, even though a thin veil of early morning fog briefly delayed flight of choppers from Sahasradhara helipad and Jollygrant airport.
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.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
India remained the world's fastest growing domestic aviation market with 51 straight months of doubled-digit traffic growth but the woes of passengers as well as carriers manifested in myriad forms.
'It is very clear that Air India cannot be managed by the government.' 'Air India should be run as a separate profit entity.'
The Kamov-226T indigenisation has been complicated by an unusually detailed Inter-Governmental Agreement.
The government has managed Rs 21,000 crore through stake sales and buybacks in the first six months, the highest-ever first half divestment revenue for any year by a good margin, raising expectations for the rest of FY17.
The King Air C90 12-seater aircraft had taken off from the Juhu airstrip on a test flight.
Airlines say ATF fuel prices in India are 40 per cent higher than in countries such as Singapore. Jharkhand, Chhattisgarh and Maharashtra
If receipts from disinvestment, tax buoyancy and black money scheme offset shortfall in spectrum sale, higher expenditure due to pay commission's recommendations and capital expenditure, then the government would be able to meet the target of controlling fiscal deficit at 3.5 per cent of GDP this financial year.
That it has been threatening to review this rule for a while is old hat anyway.
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
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