Some overseas investors refuse to be part of roadshows, citing environment risks
Barely able to stand on its own feet after the disinvestment blow, the Indian Tourism Development Corporation is now struggling to get unpaid dues totalling Rs 15 crore (Rs 150 million from the government.
To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
Over two lakh posts are estimated to be created by the Central government in its various departments.
Probe reveals "first and second" level of decision making in ministries of finance and commerce was "compromised".
Govt bosses in no hurry to exit from PSUs; many agencies, long process likely hurdles.
Dalal Street is bullish on invest
To check fiscal deficit, government needs to drastically cut Plan expenditure.
A tightrope walk ahead, especially as govt's fiscal deficit has already reached 99% of full-year estimates
Last week, the government had introduced a fresh round of austerity measures, including bans on first class travel, creation of new posts and holding meetings in five-star facilities.
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.
FM says government policies aim to contain inflation, spur growth.
'The road ahead for the government's fiscal management will be full of many new challenges,' warns A K Bhattacharya.
Centre working on open-ended lease agreement to enablesale of property at the end of the agreement period
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
Arun Jaitley addressed a post-Budget press conference.
Jet-Etihad deal documents among those leaked: CBI
Delivering the key mote address at the Citi's Investor Summit, Jaitley hoped that as a professional organisation the Reserve Bank will take 'the best decision'.
Failure to sell Air India, IDBI may have prompted a change in strategy.
In a first, Prime Minister Narendra Modi on Wednesday met the secretaries of all the government departments collectively and asked them to directly get in touch with him to resolve issues and expedite decision-making.
The IPL uses this system for players' auction.
Finance Ministry is considering to sell 5 per cent stake in ONGC in the current fiscal, which could garner about Rs 17,000 crore to the exchequer.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
India is the fifth worst-hit nation by the COVID-19 pandemic after the United States, Brazil, Russia and the United Kingdom, according to the Johns Hopkins University data.
Breaking a long tradition, the PMO has ensured that specific divisions in each ministry are allocated to junior ministers.
The government's austerity drive announced on Thursday , would lead to a saving of up to Rs 40,000 crore (Rs 400 billion) or 0.3 per cent of the Gross Domestic Product (GDP) but poses risks to growth, Japanese brokerage Nomura has said.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Here are the key highlights of the Interim Budget 2019-20 presented by Finance Minister Piyush Goyal in the Lok Sabha on Friday.
Earlier this month, market regulator Sebi had given go- ahead to the disinvestment department's proposal to give preference in share allotment to those PSUs located in states in which Neyveli's generating units were located.
The ban has been in force since last Friday.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
Initiated move to privatise Air India, but reports on poverty and cast census remained unfinished
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
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