The government will invite bids by next week from advisors for selling its 8.0 per cent stake in Maruti Udyog Ltd.
Government is expected to invite initial bids for sale of majority stake in Manganese Ore India by next week.
The government is likely to mop up between Rs 950 crore and Rs 1,000 crore (Rs 9.5 billion and Rs 10 billion) from the public offer of shares in car-maker Maruti Udyog Ltd at Rs 122-125 a share.
HPCL advanced further on Monday on buying support from institutions following reports that a inter-ministerial group is likely to meet on Thursday to shortlist the names of bidders for the state-run oil refiner.
The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
The framework for new licences will be ready by end of this financial year.
Concerned over the fallout of the Red Sea crisis and severe shortage of containers against the backdrop of a steep decline in merchandise exports in August, the Union government is pulling out all the stops to find a solution. To begin with, the government has devised a strategy aimed at boosting container supply and supporting exporters.
Alleging that something was fishy in the Jet-Etihad deal, BJP today demanded that the Prime Minister's Office should come clean on the issue.
A marginally lower stock of 21.04 million tonnes is to be maintained in the first quarter as on April 1 as against 21.2 million tonnes.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
Elections are scheduled in five states of Uttar Pradesh, Uttarakhand, Manipur, Goa and Punjab.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Sai said the revenue on account of steel exports stood at Rs 29,994 crore (Rs 299.94 billion) in 2013-14.
MCA is a legal contract, which prescribes the terms and conditions for executing a road project.
The Centre is unlikely to announce an agreement over payment mechanism with Russia until a ceasefire is declared in the Ukraine war, said people in the know. An inter-ministerial group headed by the finance ministry has been meeting regularly for over a month to analyse and discuss payment mechanisms that can work under the current circumstances and ensure the trade between India and Russia is not disrupted. The US had recently said that there would be consequences for countries actively attempting to "circumvent or backfill" American sanctions against Russia.
The Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. The Department of Investment and Public Asset Management (DIPAM) had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. DIPAM had asked government-appointed property consultants to identify issues in the bidding criteria for resolution.
The industry body said a strong inter-ministerial coordination group is required to resolve sticky issues like the 'mining conundrum' and 'raw material securitisation' for sectors like steel.
A special task force of the SFIO recently submitted an interim report to the Corporate Affairs Ministry in this regard.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Several states and UTs including Delhi, Maharashtra, Karnataka and Telangana have decided to opt for global tenders for procurement of anti-coronavirus shots with the domestic supply falling short to meet the rising demand.
The Centre will provide MI-17 cargo chopper to Uttarakhand to ferry heavy equipment to calamity-hit high altitude areas to expedite reconstruction work in the hill state.
$100-million Walmart investment of 2010 into Cedar, a group company of Bharti, is being investigated by ED.
India's plans to relax foreign direct investment (FDI) rules across a broad spectrum of industries have received the final approval from the Cabinet Committee of Economic Affairs (CCEA).
A group of ministers, headed by Agriculture Minister Sharad Pawar, has been formed to resolve inter-ministerial differences stalling the national manufacturing policy which aims at giving a boost to the sector.
The base price would be made public only after the close of market hours on Thursday.
Janata Party chief Subramanian Swamy on Thursday sought suspension of the new bilateral air services agreement between India and Abu Dhabi, saying prima facie it appeared to be linked with Jet-Etihad deal.
Even as the freeze on all decisions and notifications for fresh special economic zones continues, the government on Friday gave its nod for authorised operations in 30 notified SEZs, while granting co-developer status to five zones.
The private STP is being set up by the JSS Group at Infocity in Chandaka, Bhubaneswar.
The planning commission's core group on tsunami rehabilitation\nhas finalised its report.
While Moily refused to elaborate on the reasons for the deferment, sources said his ministry had raised concerns over pricing of IOC shares.
Incumbent airlines oppose the proposal.
Jharkhand, Odisha and Rajasthan do not meet the criteria for being accorded the special category status, while such proposal from Bihar is under consideration, Parliament was informed on Thursday.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Probe has been completed against 83.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
India has been mentioned in the report of the Secretary-General on Children and armed conflict since 2010 along with other countries of Burkina Faso, Cameroon, Lake Chad basin, Nigeria, Pakistan, and the Philippines for alleged recruitment and use of boys by armed groups in Jammu and Kashmir; detainment of boys by Indian security forces in J&K for their alleged association with armed groups, or on national security grounds.
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