But BSNL operates in the dynamic telecom sector with high growth rates. BSNL's problems have more to do with management and interference from the DoT.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The United Progressive Alliance government has initiated a move to revive a 20-year-old controversial bill which seeks to give representation to workers on company boards. As a first step, Union Labour Secretary Prabhat Chaturvedi met human resource directors and other senior officials of 12 'Navratna' PSUs in Delhi.
With the country poised to import 142 million tonnes in 2011-12, the development holds significance as a tie-up with railways will help CIL in transporting the imported coal to its destinations.
The government said on Friday it is considering offloading 10 per cent of its equity stake in navratna public sector unit Bharat Heavy electricals Limited.
Managers of the world seem to be united in their passion for wasting time at work.
Mines Minister B K Handique said that his ministry is not in favour of any further equity dilution in the navratna PSU.
Coal India wants to organise PAN cards and demat accounts for each of its 400,000 staff ahead of its IPO.
IOC, in the annual performance memorandum it signs with the petroleum ministry, stated that the Navratna oil companies should be granted freedom to fix retail selling price of petrol, diesel, domestic LPG and kerosene.
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
The 20 per cent FPO will be a combination of five per cent dilution of government's equity and five per cent issue of additional shares in each phase, a senior steel ministry official told PTI.
Coal India Ltd, Steel Authority of India Ltd, Bharat Heavy Electrical Ltd and Oil and Natural Gas Corporation were among the 15 top PSUs, which went about head hunting at the IIM-L. CIL and SAIL recruited 12 students each. "Out of the total of 267 IIM-L students graduating this year, PSUs recruited 65 students," IIM-L Placements Chairman Sushil Kumar told the media in Lucknow.
From a consumer point of view too this would bring about an improvement in the service levels of these companies as there would be more pressure on these companies to perform better and get profits.
In fact, the 9 per cent growth story cannot happen without coal, which fires over 50 per cent of the country's installed power capacity, says Partha S Bhattacharyya.
While companies have not launched too many products in rural areas of late, easy financing has helped push up demand.
The staff association of Bharat Sanchar Nigam Ltd has decided to defer its indefinite strike till September 1.
State-owned Bharat Sanchar Nigam Ltd (BSNL) may be back on track with its plans for an initial public offer (IPO). The public sector enterprise has placed a proposal for approval of the IPO to its trade union and it expects a positive response by June 3.
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The UPA has decided not to sell its shares in BHEL.
Finance Minister P Chidambaram attributed the fall in inflation on Friday to tight monetary measures taken by the Reserve Bank, but said it is too early to reach any conclusion on the price situation.
Even as the government is trying to park politicians on the boards of 'Navratna' companies, an official committee has cleared names of people like Tata Sons chairman Ratan Tata for appointment as independent directors on the board of HAL.
The company is also calling back former employees who may want to rejoin the Navratna.
Left parties on Monday agreed to consider government proposals to divest small percentage of equity in non-Navratna profit-making PSUs on a case-to-case basis.
Abandoning its attempts to push politicians on the board of Navratna companies as independent directors, the government has nominated four experts to the board of Bharat Heavy Electricals Ltd.
Navratna and petroleum major ONGC will sponsor the ninth National Football League beginning in Kolkata on January 12.
The finance minister says that FDI in retail will be permitted with Left parties' consent.
Five out of the top 10 companies in Fortune 500 list of Indian companies are from the oil sector.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
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