The AAP government appointed senior bureaucrat Arvind Ray as principal secretary.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
India Ratings and Research on Friday revised down India's FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May. Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
The Tatas are rather overwhelmed with some facets of the airline they have discovered, but even more unnerved by what they may not have yet uncovered, reveals Anjuli Bhargava.
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.
Attorney General K K Venugopal told a bench headed by Chief Justice Ranjan Gogoi that the fight between the two officers impacted the image of the CBI.
As many as 10 merchant bankers, including ICICI Securities and SBI Cap, had evinced interest in managing the stake sale.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
The Yogi Adityanath government on Wednesday transferred 20 senior IAS officers, shunting out Principal Secretary-Information Navneet Sehgal and others who wielded considerable influence under the Akhilesh Yadav dispensation.
Divestment in top PSUs could make the ETF as big as Rs 30,000 crore.
Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
The government will hold veto power on all crucial decisions in the privatised Hindustan Petroleum Corporation Ltd through the 'golden share' clause in the share-holders agreement.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
Three days after he recommended filing of an FIR against former Chief Minister Sheila Dikshit and expressed apprehension over possible attempts to "remove" him as Delhi Law Minister, Kapil Mishra was divested of the portfolio which was given to Deputy Chief Minister Manish Sisodia.
He has no challenger in the Congress, the Akali Dal is in disarray. Will he call a snap election?
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
The department of consumer affairs is planning to put a ceiling on the stake that a single domestic investor can hold in a commodity exchange.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
A bench comprising CJI and Justice Sanjiv Khanna was hearing a PIL filed by NGO Common Cause challenging the appointment of Rao as interim CBI director.
The recommendations include divestment of 30 per cent government equity in BSNL, reducing the company's workforce by a third, and cancelling the telecom equipment order for 93 million GSM lines, replacing it with network outsourcing deals.
Mitra will take over from P V Bhide after January 31.
An announcement has barred the entry of journalists in the finance ministry.
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
The Anglo-Dutch merger was meant to revive the ailing British Steel which had incurred a net loss of 81 million in the year ended March 31, 1999
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
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It is a non-deal roadshow that begins amid threat of workers strike against divestment move
The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
The petition has sought laying down of specific mechanisms to ensure transparency in the process of appointment of CBI director.
A follow-on public offer of the state-run Rural Electrification Corp to raise around Rs 2,900 crore (Rs 29 billion) is likely to come up by the end of the current financial year (2009-10).
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
The railways heritage lines that are part of the UNESCO-accorded sites list include Darjeeling Himalayan Railway, Nilgiri Mountain Railway, and Kalka Shimla Railway.
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