The key now is expenditure control, but how much?
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
The government was exploring options to secure higher dividend payment from state-run companies.
Steel secretary D R S Chaudhary said that the government is planning to sell 10 per cent stake.
Finance Ministry officials are engaging in hectic parleys with the PSUs to speed up the process so that the disinvestments can take place in the December and March quarters.
Amid sagging business outlooks from various chambers, economists on Wednesday told finance minister Pranab Mukherjee that Budget 2012-13 should restore the confidence of investors.
Economists want Budget to focus on infrastructure, have a clear strategy on disinvestment and state measures to boost investment climate.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
Kelkar panel says figures awry, fiscal deficit may cross 6% if reforms not undertaken.
The company has withdrawn the draft red herring prospectus (DHRP) for a follow-on public offering (FPO) filed with the Securities and Exchange Board of India in September for the disinvestment of the government's five per cent stake in the company.
Sony Ericsson, now, has become a wholly-owned subsidiary of Sony Corp.
In the corresponding period of the last financial year, fiscal deficit was 39.4 per cent of the estimates.
India's budget could have been more ambitions on the fiscal front.
The Budget chose to stick to an ambitious disinvestment programme for 2016-17.
The new guidelines restrict bankers not just from advising private sector companies in the 'same line of business' on public issues.
A Rs 40,000-crore (Rs 400-billion) shortfall in the Budget for 2011-12 is looming large and the market doesn't appear stable enough to absorb even a fraction of it.
Barely four months are left for the financial year to end and the government has reached only the halfway mark of its tax revenue collection target.
Unperturbed by the rise in the fiscal deficit, Finance Minister P Chidambaram on Thursday exuded confidence that it would remain within the target of 4.8 per cent of GDP in the current financial year.
To participate in an OFS, investors will have to open a trading A/C
With not much hope on robust tax collections and disinvestment, economists peg the gap between the government's expenditure and receipts to be between six and seven per cent for this financial year.
The decision to enhance AI fleet came after Tatas withdrew from the race to pick up stake in the national carrier in December 2001.
The government is planning to liberalise the terms and conditions for the sale of the national carrier. The Centre is still pursuing the option of selling the airline's subsidiaries before the airline itself, in order to deal with an outstanding debt of around Rs 27,000 crore.
The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.
The government is considering various options, apart from the public offer route, to achieve the disinvestment target for the fiscal by way of share buy-back, private placement of shares or asking cash-rich PSUs to buy equity in their peers.
Exuding confidence that Left Front would come back in its bastions, Communist Party of India-Marxist General Secretary Prakash Karat on Monday criticised the United Progressive Alliance-II for following anti-people policy. "In the UPA's first term, the Left exercised all restrains and succeed in checking prices, disinvestment and subjugation by the government to the corporate," said Karat.
In a criminal complaint filed before the court of Additional Chief Metropolitan Magistrate, Mumbai, Tata Sons has claimed that an article published by 'Outlook' in its March 28, 2011 edition and another in the April 4, 2011 edition made 'false and defamatory statements and harmed the reputation of the Tata business name'.
Newly-appointed Chief Vigilance Commissioner Pradeep Kumar, an IIT-Delhi alumni and Haryana cadre Indian Administrative Service officer of the 1972 batch, is a seasoned bureaucrat who has traversed the corridors of power in the capital having served in various key ministries.
The 5 per cent stake sale in Steel Authority of India is likely to fetch the government over Rs 2,000 crore (Rs 20 billion) at current market prices.
In a letter to Telecom Minister Kapil Sibal, Tata Communications chairman Subodh Bhargave gave a summary of the sequences of events since 2005, which also have concurrence of two directors nominated by the government.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
On indirect tax front, the government will earn 21 paise from excise and customs.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
The Planning Commission projected the Centre's fiscal deficit to come down to three per cent of the gross domestic product.
The present turmoil in Air India has thrown up many alternatives including privatisation. Memories are short. Recalling the past may be relevant.
Does the UPA govt have any other options if it wants to exploit its public sector assets to raise resources and bridge its fiscal deficit?
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'.
However, the finance ministry is hopeful of keeping its fiscal deficit under control.
