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
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.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
The Centre on Monday proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 and sought public comments on banning mis-selling and fraudulent flash sale of goods and services on e-commerce platforms, and also on making registration of these entities mandatory with DPIIT. Ban on misleading users by manipulating search results, appointment of chief compliance officer and resident grievance officer are some of the other amendments being proposed. The Consumer Protection (E-Commerce) Rules, 2020 were first notified in July last year.
The National SC/ST Hub, under the micro, small and medium enterprises ministry, with an initial outlay of Rs 490 crore, will work towards strengthening market access/linkage, monitoring, capacity building, leveraging financial support schemes and sharing industry-best practices.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
Bank of England Governor Mervyn King has topped the list of 100 most powerful business people in the public sector and non-governmental organisations compiled by The Daily Telegraph. Vadera, parliamentary under-secretary of State for Business and Competitiveness, Department for Business Enterprise and Regulatory Reform, is ranked 20th.
To help consolidate India as a major global power, the Manmohan Singh-led United Progressive Alliance (UPA) government will unveil a new policy to promote Indian companies in international markets.
Banks will also consider requests from MSMEs for restructuring their stressed standard assets. So far, only 25 per cent of the around 1 million eligible MSMEs have taken benefit of the RBI's special dispensation.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
On June 1 2017, the credit protocol to the Intergovernmental Agreement of December 5 2008 and the GFA for Kudankulam NPP Units 5, 6 were signed.
Only those who stick to the old I-T regime will get this benefit.
If Vodafone Idea shuts, a bulk of the high-paying ARPU customers will move to Airtel as Reliance Jio does not have a comprehensive postpaid offering like it, and have aggressively preferred to play in the prepaid market. The bulk of Vodafone Idea customers use 2G phones and only a few of them use data. It will be easier for Airtel to woo these customers as they can shift seamlessly to its 2G network without changing handsets or even SIM cards,
Also said if some govt bodies have already been allowed to enter business, the Central Govt should provide appropriate exit route.
'India is still a small market but whatever we do, we do it with full focus.'
Protests at this time when efforts are underway to strengthen the PLA and keep morale high would be worrying for the military leadership, observes Jayadeva Ranade, the retired senior RA&W officer and distinguished China expert.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
What these elections prove beyond any doubt (if ever there was one) that Modi's hold over public mind and Shah's mastery of election management are unparalleled. It doesn't seem likely that they will be matched any time soon in the Indian political scene, reaffirms Shreekant Sambrani.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
The most expensive gift received by Modi was a painting worth Rs 30,000, which is at the toshakhana. He also received a silver plate and five small silver bowls worth Rs 25,000, marked 'option of the recipient pending'. Ditto with another painting worth Rs 25,000.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
As on December 31, government stake in IndianOil stood at 78.92 per cent.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
Public sector units, which saw a reduction in their head count in 2008-09 due to voluntary retirement schemes, have started hiring again and may return to the 2007-08 level of 15.66 lakh (1.566 million) employees this fiscal, a senior official said.
While Governor Das was sanguine on government walking the fiscal prudence path--which was missed three out of the five budgets of the Modi government--Acharya pointed to the fiscal slippages as a worry.
When public sector firms are run down as public fund-drenchers, several state-run enterprises in Kerala have made dramatic a turn-around, owing to a multi-pronged strategy of the Left Democratic Front government to bring back the loss-making units from the verge of collapse.
Coming from a family that has a 140-year history of growing coffee, Siddhartha, 59, initially dabbled in stock trading and wanted to work as an investment banker in Mumbai after completing his Master's in Economics from Mangalore University.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
Tier-II and tier-III towns have a reason to rejoice.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Centre might move swiftly on its next round of strategic sales in CPSEs
Cabinet set to approve broadened framework this week; market route to be pursued as well.
With intense competition in telecom sector, the two companies are rushing to diversify into other revenue streams, prominent among which are cloud services.
Oil India and other PSUs had filed clarificatory /modificatory petition before the Supreme Court. These companies own and operate telecom networks though they do not provide telecom services.
South Korean steel giant Posco's wait for a mining licence in Orissa has got a little longer.
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Technology, which was responsible for creating the new-age digital consumer issue for enterprises, also acts as a solution to the problem, says Karthick Viswanathan.
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