The Cabinet Committee on Economic Affairs on Saturday cleared ONGC Videsh Ltd's proposal to acquire stake in two oil blocks in Sudan.
The government on Thursday cleared the long-awaited sale of the UTI Asset Management Company to three state-owned banks and the LIC at a price of Rs 1,237 crore.
"It has been decided to sell 8 per cent equity in Maruti," Heavy Industries and Public Enterprises Minister Santosh Mohan Deb told reporters after the meeting of Cabinet Committee on Economic Affairs on Friday.
In a bid to promote industry and tourism in North Eastern states, the government will provide Rs 175 crore (Rs 1.75 billion) to Indian Airlines arm Alliance.
State-owned Bharat Petroleum Corporation Ltd will commission the Rs 6,354 crore (Rs 63.54 billion) Bina refinery in Madhya Pradesh in two years' time.\n\n\n\n
The finance ministry is believed to have objected to some provisions of the policy.
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.
The government on Thursday fixed the Minimum Support Price for rabi crops, raising the MSP for pulses and oilseeds up to Rs 30 per quintal and leaving that for wheat unchanged at Rs 620 a quintal.
Spectrum qualifies for the infrastructure criteria, say ministry officials.
The Cabinet Committee on Economic Affairs has approved ONGC Videsh Ltd's proposal to invest an additional $1.1 billion in Sakhalin-I project in Russia.
The government on Wednesday rolled back its decision to hike LPG price by Rs 5 every month.
The cabinet committee on economic affairs will meet this evening to decide on the prices of petrol, diesel, LPG and kerosene, petroleum minister Mani Shankar Aiyar said.
In a move to protect the interests of national oil companies against the fluctuations in global crude prices, the government on Monday decided to grant these PSUs limited freedom to fix petrol and diesel prices.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, will acquire 11 per cent stake in a 744 million barrel oil field in Sudan for $125.4 million.
The chief adviser's decision to stay in office came two days after he told student-led National Citizen Party (NCP) leaders that he was mulling resignation as he felt "the situation is such that he cannot work", citing difficulties in working amid the failure of political parties to find common ground for change.
The decision is expected to provide a push for their development in healthcare, cultural identity, education, financial matters, skill development and women empowerment among others, the Chief Minister's Office said in a statement.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
Deputy Commissioner for the New York City Mayor's Office for International Affairs Dilip Chauhan made the announcement in the presence of Minister of State for Social Justice and Empowerment Dr Ramdas Athawale, who delivered the keynote address at a special event organised at the UN headquarters on Monday to commemorate Dr Ambedkar's 134th birth anniversary.
The Union Cabinet has cleared disinvestment of the country's largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (initial public offering), which is touted to be the biggest public issue in Indian corporate history. The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
With Congress party vice president Rahul Gandhi making a strong pitch for raising LPG cap, Oil Minister M Veerappa Moily on Friday said the quota of subsidised cooking cylinders will be hiked to 12 from 9 per household.
Once the iconic red-brick building of British India Corporation (BICL), which manufactured the popular "Lal-Imli" brand of woollen products, made Cawnpore (now Kanpur) the Manchester of the East. In the 75th year of independence, the government may finally pull the curtains on the century-old, now defunct public sector enterprise. "The Department of Public Enterprises (DPE) has floated a draft cabinet note for closure of British India Corporation (BICL) along with National Textiles Corporation (NTC). "The Cabinet may soon tak
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
The capital cost of the entire project, including a 5.6-km-long bridge, other minor bridges, underpasses and a rail overbridge, was estimated at over Rs 2,900 crore. The decision to cancel the project came in the backdrop of the killing of 20 Indian soldiers in a clash with Chinese troops in eastern Ladakh's Galwan Valley on June 15.
The agreement between the two has a long stop date clause, stipulating that all approvals be secured by then.
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.
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.
MCA is a legal contract, which prescribes the terms and conditions for executing a road project.
FIPB has deferred 18 proposals.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
After attacking the Jet-Etihad deal, Janata Party President Subramanian Swamy on Wednesday trained his guns on the Air Asia proposal to set up an Indian carrier, saying the FIPB clearance to it was "not legally valid".
The move is part of a larger initiative by the government to speed up work in the highway sector.
Prime Minister Narendra Modi on Friday announced a Rs 100 per cylinder cut in cooking gas LPG price to ease financial burden on households. Non-subsidised cooking gas price will be cut to Rs 803 per 14.2-kg cylinder in the national capital with effect from midnight of Friday/Saturday, official sources said. Prices vary from state to state depending on the incidence on local taxes.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
To proceed with a Cabinet proposal to grant the relaxations to RIL, the Election Commission's approval will be sought.
The approvals would be handled independently by administrative ministries of different sectors.
