With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
Once the iconic red-brick building of British India Corporation (BICL), which manufactured the popular "Lal-Imli" brand of woollen products, made Cawnpore (now Kanpur) the Manchester of the East. In the 75th year of independence, the government may finally pull the curtains on the century-old, now defunct public sector enterprise. "The Department of Public Enterprises (DPE) has floated a draft cabinet note for closure of British India Corporation (BICL) along with National Textiles Corporation (NTC). "The Cabinet may soon tak
With a spate of clearances, including relief to companies facing delays in development of coal mines, the government is getting its act together.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
The government on Thursday further liberalised the foreing investment regime by allowing Foreign Investment Promotion Board to clear proposals from overseas entities worth up to Rs 1,200 crore (Rs 12 billion), against the existing limit of Rs 600 crore (Rs 6 billion).
The relaxation will apply to those sectors that have composite caps (foreign direct investment or FDI plus FII). "The move will not impact sectors like banking and insurance which are governed by Acts of Parliament. However, sectors with composite caps which see administrative control like telecommunication services, broadcast services like direct-to-home and FM radio will benefit," a Delhi based FDI policy expert told Business Standard.
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
While the government expects the new urea policy to bring more investment, the fertiliser industry is less than enthused. New capacities to make urea, industry representatives say, will come up only if adequate fuel and timely payment of subsidy dues is ensured.
Pepsico India Holding need not divest 49 per cent equity in bottling firms to Indian companies, with the government today exempting it from the obligation following change in FDI rules for the food processing sector.
Aiming at bolstering the sagging economy as well as providing housing to all, the urban poor will get 5 per cent interest subsidy for home loans up to Rs 100,000, taken during the Eleventh Plan period.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
Sugar mills may get some relief from the government following a proposal to raise the interest rate subsidy on loans against excise duty paid by the mills during the last and current financial years.
The government on Monday cleared a Rs 1,718 crore (Rs 17.18 billion) project to set five centres for automotive testing and homologation throughout the country over the next six years.
The government on Thursday approved setting up of a world-class drug research institute in Lucknow at a cost of Rs 190 crore (Rs 1.9 billion).
The coins will be issued with three different themes -- Unity in Diversity, Mudras from Bharatnatyam and Connectivity and Information Technology.
The IT modernisation project with this outlay was approved by Cabinet Committee of Economic Affairs in November 2012.
At the end of September quarter, Tail Winds held 68,15,843 shares, equivalent to 7.89 per cent holding, of Jet Airways.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Air India is awaiting the Union civil aviation ministry's nod to sell its properties in Mumbai and Chennai
The coal-bearing states shall be getting additional revenue from such coal mines.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
