The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
So should airlines play the keening, trance-like Siddi folk music from the Kutch peninsula? The Sufiana Kalam of Kashmir? Carnatic music? Rabindra Sangeet? Bihu melodies? Classical music from the Hindustani gharanas? Ghazals? Bhajans? Bollywood hits?... asks Kanika Datta.
India's fuel sales surged past pre-pandemic levels in March on twin impact of the economy rebounding from the lifting of pandemic-related restrictions and anticipation of price increases leading to stocking. In the first two weeks of March, dealers, as well as the public, topped up their tanks in anticipation of an increase in prices that had been on hold in the run-up to the elections in states like Uttar Pradesh. While daily price revisions restarted on March 22, the increases were calibrated.
The Boeing Company's proposed MRO base in Nagpur for maintenance and repair of aircraft may have another partner in addition to state-owned carrier Air India.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
He is the first high-profile person who has deposed before the ED in this case.
National Aviation Company of India Limited, the public sector entity that owns Air India, will be offering a voluntary leave-without-pay scheme to 15,000 employees--around 46 per cent of its staff strength--to help the financially-strapped airline save over Rs 75 crore annually.
Both Vistara and AirAsia India, along with their partners, are quietly putting together an aggressive plan to become a formidable force in the skies. At the core of this new push is their plan to go international this financial year.
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
Mizintsev said that places for temporary accommodation and rest have been set up at the checkpoints.
Patel is being questioned in connection with a money laundering probe related to losses suffered by Air India as part of an alleged multi-crore aviation scam.
The government on Thursday approved the Rs 1,540 crore (Rs 15.40 billion) digitalisation programme for state-owned broadcasters Doordarshan and All India Radio in the 11th Plan to help meeting challenges posed by private operators.
No date has been announced for Air India's induction into the club of more than 28 leading carriers
The Intelligence Bureau on Sunday issued an alert about a possible hijack attempt on the Air India flight going to Kabul in Afghanistan.
The government on Thursday said state-owned carrier Air-India would raise funds through loan guaranteed by the US Exim Bank to part-finance its purchase of 68 aircraft costing about $7.2 billion.
Centre might move swiftly on its next round of strategic sales in CPSEs
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
Airfares are at an all-time low because of fall in crude oil prices.
'Since the growth is not fast enough to provide jobs for the young, the fallout will be political and social,' warns T N Ninan.
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.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
This will be the largest claim in the aviation sector for Indian insurers in the last three years
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
Tough measures need to be taken to make Air India "survive and thrive", global airlines body IATA said on Wednesday, asking the government to take a cue from the merger of two state-owned Japanese carriers which slashed jobs and operations to come out of bankruptcy.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. "It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said. Finance Minister Nirmala Sitharaman, too, had indicated review of the IPO in view of the evolving geopolitical situation.
In a letter to Civil Aviation Minister Vayalar Ravi, he sought permission to step down from the board of National Aviation Company of India Ltd.
India has realised that one can only deal with China from a position of strength and that is not palatable to Beijing, observes Dr Rup Narayan Das.
Say goodbye to train journeys as a surprisingly large number of low-cost airlines prepare to slug it out. Take the Rediff Business Quiz and find out how much you know about the new battle in the Indian skies.
India's investigating agencies have in the past made a lot of noise about probes that resulted in few convictions
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
A controversy was kicked up on Thursday with China's state-owned television CCTV showing India's map without Jammu and Kashmir and Arunachal Pradesh while reporting on Prime Minister Narendra Modi's visit.
But says the airline will have to meet targets to get fund.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
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 loans are backed by a government guarantee.
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