Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Pawan Verma contended that PSU banks are influenced to give loans to the people who are not able to repay them.
Is it a divine, sacrosanct university, a holy cow, prohibiting human intervention?
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
The department of investment and public asset management is scouting for investment bankers and legal advisors to carry forward the transactions.
The markets have reacted negatively, for example, to recent news that Cairn India, of which the Anil Agarwal group company Vedanta owns 60 per cent, will give a $1.25-billion loan (about Rs 7,500 crore) on notably easy terms to Sesa Sterlite, another Anil Agarwal group company.
The company plans to raise Rs 750 crore; other realtors may follow.
The Association for Democratic Reforms has stated in its report that 87 percent of the contributions or donations made to political parties in the past eight years were from business houses. The corporate houses contributed Rs 378.89 crore, constituting 87 per cent of the total contribution from known sources of political parties.
The Rajya Sabha MP said for electoral success 'it is essential that the ideology of Hindutva is never lost sight of'.
For about three more years, the Indian Navy will have to make do with its lone carrier -- the Russia-built INS Vikramaditya.
The Department of Investment and Public Asset Management (Dipam) has asked ministries, government departments, and public sector undertakings (PSUs) to send a list of assets that can be monetised under the proposed National Monetisation Pipeline. The list will be used for creation of an asset monetisation dashboard, which will keep a track of such assets. The government, meanwhile, has asked CRISIL to prepare a road map for monetising assets of PSUs and government departments.
Scheduled to be completed in 2016, the 4.94 km rail-cum-road bridge, India's longest bridge, will come up across the mighty Brahmaputra at Bogibeel in Assam. It is not only expected to be a lifeline for the Northeast, but will also strengthen the country's security.
It is the six per cent target RBI is more concerned about.
Markets rebound with financials leading the gains on hopes of a peaceful solution to the turmoil in Ukraine
Syed Firdaus Ashraf/Rediff.com tracks Prime Minister Narendra Damodardas Modi's project-launching spree with just about three months to go for the assembly election in India's most populous state.
The Survey shows fiscal consolidation despite slowdown in growth.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
Hike in planned public-sector capital expenditure will be credit-positive for infra cos
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
Participants are eyeing the Bihar elections.
Leaders hope the Ayodhya temple ceremony would pave way for harmony.
He also asserted that the freedom of press has to be preserved at any cost in a democracy but media should remember that freedom comes with responsibility.
'To keep the next catastrophe at bay, a carbon free economy will be an imperative. 'Our 2000 cc internal combustion engine powered personal cars and public transport may have to give way to electric and hydrogen powered fuel cells. 'The oil refineries which were so much part of my professional life may have to be dismantled and trees planted in its place. 'The smokestacks, which once upon a time represented growth and prosperity, will now be gory symbols of a polluting past,' notes former Hindustan Petroleum chairman Arun Balakrishnan.
PM's Massive Mission to achieve 'Swachh Bharat' by 2019 is a tribute to Mahatma Gandhi on his 150th birth anniversary.
The Cabinet Committee on Divestment will meet on Tuesday to discuss among other things relaxation of bidding norms for Shipping Corporation of India to woo foreign bidders while taking Air-India and Indian Airlines off the divestment list.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
A 'Hindu India' would not be Hindu at all, but a 'Sanghi Hindutva state', which is a different country altogether, says Tharoor in his new book The Battle of Belonging that was released on Saturday.
'Bola nikal jao. Sala firing karte hai Russi.'
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
ONGC is the country's most profitable PSU.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
A Madhya Pradesh farmer has claimed that he lost his crop because of Prime Minister Narendra Modi's proposed rally in the state on February 18.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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