'It has taken 7-and-a-half years for this government to understand the fundamentals of economics.' 'If the prime minister wants to leave an imprint, he has to see to it that this succeeds.'
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
Lavasa will replace Rajan Watal, who retires on Saturday, even as the budgetary process is yet to be finally completed.
Jet and Etihad have already agreed upon a Rs 4,000-crore interim financing plan according to which Etihad will put in Rs 750 crore either on its own or from an offshore or onshore lender, and a matching amount will be provided by the Jet lenders.
Prime Minister Narendra Modi who inducted 19 new ministers into his Cabinet on Tuesday has carried out major changes in the portfolios of his top ministers.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
Both India and Nepal claim Kalapani as an integral part of their territory -- India as part of Uttarakhand's Pithoragarh district and Nepal as part of Dharchula district.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
The government is also planning to replace the current ageing Air India One or Boeing 747 with Boeing 777s. Arup Roychoudhury and Archis Mohan report.
Though the Cabinet reshuffle on July 5 has a clear stamp of the Prime Minister's Office, the changes have also increased the coherence between the Bharatiya Janata Party, the government and the Rashtriya Swayamsevak Sangh.
Broadly speaking, the expansion of the Council of Ministers sent out three major political signals.
A business in India wanting access to maps and geospatial data would typically have to wait months before it got what it wanted. All this is set to change with the new guidelines on geospatial data, report Neha Alawadhi and Peerzada Abrar.
Jet Airways on Thursday said it would introduce more flights on both its domestic and international networks.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
The government has hiked foreign investment caps.
Court documents show that the Kerala government, whose case was treated as the 'lead case' among all the petitions filed against Adani, made four allegations to convince the court to cancel the contract for the Thiruvanathapuram airport. The state's legal team couldn't substantiate most of these allegations with documentary proof and its self-defeating arguments in court failed to convince the judges to cancel the contract given to Adani. The battle for the Thiruvananthapuram airport between the Communist-led Kerala government, the Adani group and the Modi government over the past year hasn't had a dull moment since the proceedings began. Claims of a smoking gun turned out to be a damp squib, says Sai Manish.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
Air India stares at an operational loss of Rs 2,171 crore in 2014-15.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Jaitley said the global volatility has thrown up challenges
We have cleared all dues to our employees, says Ajay Singh
This is the second extension for the bids since June 18.
Hours after 21 ministers took the oath of office and became a part of Prime Minister Narendra Modi's ministry, speculation began on which minister would be handed which portfolio. However, all speculation ended after the list was announced.
The apex court issued notices to the Centre, ministries and departments concerned, Jet Airways and United Arab Emirate's Etihad Airways on the petition challenging the deal and sought their responses within four weeks.
Air India expects to wipe out some red marks from its balance sheet.
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
The Union government has no 'Buy India' policy, but has a 'Buy Air India' policy.
The government also proposed promoting 'one product one district' for better marketing and export of horticulture crops. It also called on states for early implementation of three key central model laws on land leasing, agriculture produce and livestock marketing and contract farming.
A brief report card on Modi's ministers.
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
Modi and the Qatari Prime Minister, who is in New Delhi on his first visit, discussed enhancing cooperation in defence and security, in particular in cyber security and agreed on joint action to tackle money laundering and terrorist financing.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
The man who could well have been a high-level corporate may have to content himself being deputy chief minister. But other challenges await.
The 41-year-old 'young gun' travelled the length and breadth of the state to strengthen the party at the grassroots level and ensure its comeback.
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