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.
It is in no way a government of the economic Right. The Right is limited to religion and nationalism. The rest is as Left as the Congress or any other party, observes Shekhar Gupta.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
After the April-July fiscal deficit data was released on August 31, several analysts hinted that the government may need to go for cuts in capital expenditure to meet the fiscal deficit target.
Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
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.
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
The government will decide in August whether to sell a 5 percent stake in ONGC, a senior oil ministry official said, in a deal that would be worth $2.9 billion at current market prices.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
Govt seems to bullish to meet its disinvestment target in current fiscal.
The railways heritage lines that are part of the UNESCO-accorded sites list include Darjeeling Himalayan Railway, Nilgiri Mountain Railway, and Kalka Shimla Railway.
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.
In a Q&A with Doordarshan, Jaitley discusses how he chose the areas on which he would spend more.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
Single window clearances for realty must.
Getting the balance between fiscal restraint and growth-contracting policy remains a problem.
Full list of the rejigged Union Council of Ministers
Corporates understand that the PMO drives all key decisions in this government.
Just 5 departments account for about 88 per cent of the Union government's civilian employees. A leaner bureaucracy will help Modi keep his promise of maximum governance with minimum government, says A K Bhattacharya.
The FM should quietly get the oil companies to offload the shares in the market and pocket the gains
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.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
Private sector firms need to be re-engaged for better infra planning.
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.
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