Companies such as SAIL, ONGC, IOC and Hindustan Copper are waiting to hit the markets.
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.
Heavy Industries Minister Praful Patel said Scooters India could be considered for complete privatisation
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
On September 7, the trade unions have called a dawn to dusk bandh to protest against rise in price of daily commodities and, once again, fuel price hikes.
Air India will very soon get funds from the government for its day to day operations and will even place orders for a couple of aircraft
It was 55.3 per cent for the same period last year, and data shows the fiscal deficit for April-May was kept in reasonable check in spite of heavy frontloading of expenditure.
Steel Authority of India Ltd (SAIL) is looking for ventures into analogous sectors. While the state-run company is going for a follow-on public offer (FPO) in early 2011, it is looking at some aggressive expansion plans, and mergers and acquisitions as well, said Chandra Shekhar Verma, chairman and managing director.
Better fiscal balance on back of revenues from 3G auctions.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
NALCO may invest Rs 700 crore in two mines of Hindustan Copper
Finance Minister Pranab Mukherjee is slated to present the Budget on February 26.
Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
Finance Ministry is planning to dilute its stake in seven or eight government companies.
The government asked five states to tighten security and take maximum precaution during the 48-hour shutdown called by the Maoists beginning on Tuesday.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
The move is expected to encourage brokers to sell issues, which have not received a very encouraging response so far.
Besides, some PSUs that have remote locations are unable to communicate the public offer message to their employees and face various difficulties like opening demat accounts.
He was last month appointed as Secretary in Department of Economic Affairs in place of his batchmate Arvind Mayaram, who was first shifted to Tourism and then to Minority Affairs Ministry.
While IndiGo had 11.8 per cent of all the international seats to and fro India in the last week of August, Air India's seat share was 11.4 per cent. Emirates came third with 8.1 per cent, and rest of the airlines constituted 68 per cent of the seat share.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
Arun Jaitley addressed a post-Budget press conference.
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
Top sources in the government told Business Standard that Railway Minister and Trinamool Congress chief Mamata Banerjee's opposition to divestment plans of profit-making public sector entities prompted the cabinet not to take it up for discussion today.
Just five days after mandating all listed companies to have a minimum 25 per cent public float, the government said on Wednesday indicated it was open to a review of the new rules. "If there is need for any modification, correction, amendment, or may be amplification, it will be done," Finance Secretary Ashok Chawla told reporters on the sidelines of a function by the Confederation of Indian Industry.
Financial services company Morgan Stanley's Asia chief Stephen Roach is more bullish on Indian economy than China.
Biggest ever share sale by any private or public sector co in India.
Mitra will take over from P V Bhide after January 31.
Last year, Air India replaced veg and non-veg sandwiches with veg hot meals on flights
Nine major trade unions have called for a 24-hour long nationwide bandh on Tuesday to protest against price rise, disinvestment of public sector, retrenchment and entry of foreign capital in retail market.
The Budget is likely to implement the Congress's poll promise of a Food Security Bill, apart from increasing funds for schemes under the Mahatma Gandhi National Rural Employment Guarantee Act, earlier known as NREGA.
While the government is banking on divestment of its stake in the country's biggest trading giant MMTC Ltd to meet its Rs 40,000-crore (Rs 400 billion) disinvestment target for 2010-11, MMTC chairman and managing director Sanjiv Batra believes it may take more time, as the government is yet to appoint independent directors on its board.
Disinvestment secretary Sunil Mitra last month wrote to his counterpart in Petroleum ministry R S Pandey seeking comments on 'public offerings from Government's shareholding' in ONGC and IOC. While government has not allowed IOC and other retailers Bharat Petroleum and Hindustan Petroleum to raise petrol, diesel, domestic LPG and kerosene price in line with the cost, they have not been given the promised compensation.
In its order on an RTI query filed by advocate Arjun Harkauli on the issue, the Central Information Commission observed, "In response to therequest for information relating to disinvestment of government's 51 per cent stake BALCO, the Chief Public Information Officers of the respondents have stated that they have made attempts to search and trace the desired documents but to no avail."
The unions, CITU, AITUC, BMS, INTUC, HMC, AUITUC, TUCC, AICCTU and UTUC demanded that the government stop disinvestment of public sector units and bring in a lagislation to protect workers of unorganised sector.
The Left parties which had raised the issue were not satisfied with his reply and walked out and they were joined by Samajwadi Party.
The government has already mopped up more than Rs 17,000 crore (Rs 170 billion) through divestment in the current financial year and is on course to achieve the Rs 40,000 crore (Rs 400 billion) target by fiscal year-end.
It says 30 PE firms have divested stakes worth $1.46 billion during April-June this year against 29 PE firms that disinvested $820 million in the same period last year.
Centre working on open-ended lease agreement to enablesale of property at the end of the agreement period
