Air India must tighten costs to comes out of the red or it wil perish in no time, says experts.
The biggest challenge is not the airline's debt, but downsizing its 16,800 employees, says Surajeet Dasgupta.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
The federal agency issued a statement, saying it has attached fresh assets worth more than Rs 35 crore that are "beneficially-owned and controlled" by the PFI "in the name of various trusts, companies and individuals" as part of its ongoing probe against the outfit and entities linked to it.
>The Indian Army still uses old British-era names and recruits soldiers based on caste or region, which hurts national unity, argues Colonel K Thammayya Udupa (retd).
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
"Based on this consensus, the process of disengagement is almost complete. Our efforts will be to take the matter beyond disengagement; but for that, we will have to wait a little longer," he added.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
The Indian Air Force will carry out a mega exercise covering the Northeastern region early next month to check its combat readiness, amid a fresh spike in tension with China along the Line of Actual Control in Arunachal Pradesh.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
It seems in the geopolitics of the 21st century, we can see the subcontinent acting as one geopolitical entity to secure its economic interests. Key to this transformation is a strong India that is pre-eminent but not dominant, notes Colonel Anil A Athale (retd).
It said the issues on which opinions have been attributed to him are in the public domain and have been extensively deliberated upon in the media.
The two sides held talks on Tuesday as well but it could not produce any tangible outcome, the sources said.
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
The meeting came after the Indian Army thwarted an attempt by the Chinese Army to transgress into Indian areas near the southern bank of Pangong Tso near Chushul in Ladakh on the intervening night of Saturday and Sunday.
The meeting started at around 11.30 am at Moldo on the Chinese side of Line of Actual Control (LAC) opposite Chushul to defuse the tensions in Eastern Ladakh sector due to Chinese military build-up, the sources said. This is the second meeting between the two corps commanders.
The figure, mentioned in his affidavit filed along with the nomination papers, is over five times the assets of his parents, which as per MP CM Nath's affidavit stood at over Rs 124 crore.
In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that it wants to legally rob people of their assets and lifelong savings they want to bequeath to their children.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
'For Pakistan, the comfortable old calculations and certainties are no longer valid.' 'Strikes on Indian targets now carry a high risk of retaliation and escalation,' notes Ajai Shukla.
The Chinese fighter aircraft activities took place from its bases including the Hotan, Gar Gunsa and Kashgar airfields which have been upgraded recently to enable operations by all types of fighters along with concrete structures to hide away the presence of the number of fighters present at its different airbases, the sources said.
China has put a hold on a proposal by the United States and India at the United Nations to blacklist Abdul Rauf Azhar, the brother of Jaish-e Mohammed (JEM) chief Masood Azhar and a senior leader of the Pakistan-based terror organisation.
'...and then get scaled down somewhat.' 'It will be difficult for any side to occupy meaningful territories, maybe just a bit here and there, and the destruction may vary on either side.'
It is the first mega exercise involving the two aircraft carriers after induction of the indigenously-built INS Vikrant in September.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
China has blocked a proposal by the US and India at the United Nations to blacklist Abdul Rauf Azhar, the brother of Jaish-e Mohammed (JeM) chief Masood Azhar and the deputy chief of the Pakistan-based terror group, in the second such move by Beijing in less than two months.
'The sky is the limit for what all could be done at an air base to neutralise terrorists. Good proactive local leadership and delegated operational effort would be key to ensuring that a handful of terrorists cannot hold a whole air base, and by extension, the whole nation to ransom,' says Group Captain P I Muralidharan (retd).
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