Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
Though public shareholding in Jet is already down to the mandated 25 per cent, the regulator wants its promoters to pare their stake further.
Probe reveals "first and second" level of decision making in ministries of finance and commerce was "compromised".
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
In a fresh crackdown on foreign fundings to NGOs, the Union Home Ministry has put the Ford Foundation of the USA on its "watch list" and ordered that all funds coming from the international organisation have to be routed only with its nod due to "national security concerns".
Worried over excessive outflow of foreign exchange as royalty and fees for technology transfer and use of brand names, Commerce and Industry Minister Anand Sharma wrote to Finance Minister P Chidambram on the matter.
Cricket Australia continues to monitor the situation in Sri Lanka but has no plans to change the schedule of the upcoming tour of the island state despite continued violence, the governing body said on Thursday.
In the 15-year dataset, the researchers noted an average of 7.8 incursions per year even though the Indian government's estimates are much higher.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
India as the G20 host has a 'unique role' to play in bringing about an end to the war in Ukraine due to its 'longstanding historical' ties to Russia, the United States has said, expressing hope to work closely with New Delhi to find a way to stop the conflict.
The US Geological Survey said the quake struck about 44 km (27 miles) from the city of Khost in southeastern Afghanistan and was at a depth of 51 km.
Since becoming the president of the UAE, Sheikh Khalifa has presided over a major restructuring of both the Federal Government and the government of Abu Dhabi.
The initiative is being called lateral recruitment to senior positions in the government.
The Department of Heavy Industry has been undertaking appraisals of each loss making CPSE to assess the prospects of revival.
According to him, there are enough laws but their implementation is important.
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
Income tax department sends out notices to cryptocurrency investors on suspicion of tax evasion.
The Indian government asked for the estimates published '10 years later'.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
Lavasa, a career bureaucrat, joined as Election Commissioner on January 23, 2018, and being senior most on the poll panel would have become CEC in April next year after the term of incumbent Sunil Arora ends.
In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
Experts warn of over-interpreting the numbers and said their sustainability needed to be watched beyond November, says Indivjal Dhasmana.
Accepting Odisha's proposal of constructing an additional 162 cyclone shelter houses as they helped in providing safe stay for people after evacuation from the coast, WB team agreed to provide assistance of $55 million for the purpose, the sources said.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
Pakistan Prime Minister Shehbaz Sharif on Thursday chose Lt Gen Asim Munir as the new Army chief to replace incumbent General Qamar Javed Bajwa.
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
Breaking a long tradition, the PMO has ensured that specific divisions in each ministry are allocated to junior ministers.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Some experts had said the Budget did not have much in terms of big ideas.
RBI is scheduled to announce mid-quarter review of monetary policy for 2013-14 on June 17.
Efforts of the government have been successful in reining in the growth of population, she said in a written reply.
