No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
The ones chosen for operation, management and development through a public-private partnership model are Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
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PSUs may not be financially sound enough to plug deficit or revive investment.
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called 'bad bank, by 2021-2022. Only 10 per cent of this has been executed.
The consortium beat six others at an auction on Thursday
The report cautioned that low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
Presenting the Budget for 2020-21, Sitharaman said Rs 1.7 lakh crore has been provided for transport infrastructure in 2020-21.
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
The airports chosen for operation, management and development through a public-private partnership model are those in Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
'...the President is pleased to accept the resignation tendered by Shri Ashok Lavasa, Election Commissioner with effect from the 31st August, 2020,' the notification said.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
While the Constitution makes everyone in India eligible to work anywhere in the country, states have used legal loopholes to frame laws.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
It was one of the toughest times in history to announce a budget, says Harsh Goenka, chairman of RPG Enterprises.
Bain Capital-backed Tyger Capital is planning to list its shares on the Indian stock exchanges by the next financial year and is targeting to grow its assets under management by four times to Rs 20,000 crore in five years from Rs 5,000 crore now, Gaurav Gupta, MD and CEO of the firm said. In an exclusive interview, Gupta said that keeping with the growing business, the finance company expects to on-board 600 people in the current financial year as it is opening 60-65 new branches for broad-basing its network in the country.
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
IFC will act as a transaction advisor for the projects to be developed in the public-private partnership mode.
Bharat Biotech's Covaxin has demonstrated 77.8 per cent effectiveness against symptomatic COVID-19 and 65.2 per cent protection against the new Delta variant.
Ahead of Modi-Putin talks, the US called upon India to make it clear to Russia that any resolution of the Ukraine conflict must respect the United Nations charter and Ukraine's territorial integrity and sovereignty.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
Railway route privatisation is not as rosy it looks as there is no bar on competition on one hand and demand-risks outweigh the benefits on other, even though the private operator is free to fix the tariffs, warns a report.
'This plan is basically to allow some of the government assets for rent, and surely not for sale.' 'There is a difference between selling a house and renting out a house.'
India's financial sector is dominated by large government-owned and private-sector banks.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
A host of companies have been lined up by the disinvestment department as candidates for stake sale.
The Supreme Court on Thursday set aside a Punjab and Haryana high court order granting an interim stay on a Haryana law providing 75 per cent quota in private sector jobs for residents of the state.
Opens operations in high-speed train, freight and suburban corridors to private sector
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
The state is planning an event similar to PM Narendra Modi's Startup India.
The Land Acquisition Bill, passed by Parliament during the Monsoon Session to replace a 119-year-old legislation, became a law with President Pranab Mukherjee giving assent to it on.
Government is looking to develop 15 airstrips owned by the state governments and 10 that are with the Airports Authority of India.
The company aims to be part of all smart city programmes in the country directly or indirectly and has come up with a host of India-specific products. Karan Choudhury reports.
No expecting mother ever needs to travel for more than 30 minutes to reach one of their hospitals, believes the Cloudnine group.
Ad man Gerson da Cunha, a multi-faceted personality who was very passionate about civic activism in later years, died in Mumbai on Friday. He was 92.
The airport has formulated standard operating procedures for post-lockdown safety of the passengers, which include social distancing, stringent thermal screening, positioning temporary quarantine centres and also continues to sanitise and disinfect the airport to ensure safety and well-being of the passengers when operations resume.
Safety and Efficacy results from the final analysis will be available in June, and the final report will be submitted to a peer-reviewed publication.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
'This is the first time the US has formally recognised the threat India faces from terrorist organisations based in Pakistan.'
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