'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The government on Thursday decided to provide budgetary support of Rs 141.41 crore (Rs 1.41 billion) to 16 central public sector undertakings to enable them to pay pending salaries and statutory dues of their employees.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
The finance ministry may ask cash-rich public sector undertakings (PSUs) to invest in foreign assets that are currently available at cheap rates due to the global economic slowdown.
The Finance Ministry has asked cash-rich public sector companies (PSUs) to utilise surpluses for expansion and overseas acquisitions, a move that will promote investments and growth.
Public sector companies and some government departments have come in for severe criticism in the India Infrastructure Report 2003. The report says the inefficiencies of PSUs have provided private firms with a huge pricing advantage.
Around 1.5 crore polling and security personnel, about 55 lakh EVMs and four lakh vehicles will be deployed for the polls, according to the poll authority.
Vedanta chairman Anil Agarwal on Saturday pressed for further liberalisation of the defence sector and called for corporatisation of defence factories to make the country self reliant in respect of arms and ammunition. There are 52 defence factories for manufacturing arms and ammunition in the country but most of them are running at 10 per cent capacity, he said. "We (India) can be the largest producer of arms and ammunition. "If the defence factories are corporatised it will bring in a new way of thinking," Agarwal said while addressing the inauguration of a post graduate programme for executives virtually from London.
What are the implications of the new players coming into the retail segment on existing companies like BPCL, HPCL and IOC? \n\n\n\n
Included in the list are Industrial Development Corp of Orissa, Coop Spinning Mills of Nayagarh, Badamba and Baragarh, Kalinga Spinning Mills, Dhenkanal and Gopi Spinning Mills, Baliapal.\n\n
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
PSUs under the railways ministry include Ircon International, a turnkey infrastructure construction company; Railtel (telecom); Indian Railway Catering and Tourism Company; and Rites, a consultancy, engineering and project management firm.
The government has constituted a committee headed by NTPC Chairman Arup Roy Choudhury to study the proposal and submit a report in two months time.
State-run public sector undertakings live in a mysterious world, without scrutiny from analysts or the public. Here's an overview of Maharashtra's PSUs.
Fund managers of large-cap and equity-linked saving schemes (ELSS) have demonstrated a marked improvement in their performance over the past year, according to the latest SPIVA (S&P Indices Versus Active) report released by S&P Dow Jones Indices. In the one-year period ending June 2023, 17 per cent of active large-cap schemes outperformed the S&P BSE 100, compared to just 9 per cent at the end of June 2022. In the case of ELSS, there was a sharp improvement in performance, with 66 per cent of active schemes delivering better returns than the benchmark S&P BSE 200.
The process of selling stake in other profit-making PSUs is already underway.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
The government is working on a plan to nurse sick public sector units back to health before any disinvestment takes place in these companies, chairman of the PSUs revamp board Nitish Sengupta has said.
SC has given state-run enterprises a free hand to pursue litigation against the government and other public sector units.
Government has targeted to garner about Rs 56,500 crore through selling its stake in PSUs.
Giving relief to the employees of loss-making public sector units, the government on Wednesday decided to continue supporting distressed public sector units in meeting their wage bills and other statutory payments.
Describing these as non-working companies, the CAG in its latest report on the state tabled in the Maharashtra Assembly stated that since no purpose may be served by keeping these units in existence, the state government needs to expedite closing down of these non-working PSUs.
Prime Minister Narendra Modi on Tuesday invited investors here to participate in the proposed divestment of Navratna PSUs
The Airport Authority of India, Prasar Bharati, Food Corporation of India and fertiliser and pharmaceutical PSUs have seen a significant increase in budgetary support this year. However, the railways and Delhi Metro, the lifeline of the capital, got less due to improved operational strengths. The Plan investment figures for public enterprises indicate not a single rupee has been earmarked for any PSU under the ministries of petroleum and natural gas, mines, coal etc.
Till 15 days ago, only two PSUs - Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation (NTPC) - ranked amongst the five most valuable companies. But with two more PSUs, Mineral and Metals Trading Corporation (MMTC) and National Mineral Development Corporation (NMDC), seeing sustained rise in the last three months, the number has risen to four.
PSUs say with the economy back on track, the students are preferring private sector companies due to fatter pay packets.
In a move to protect the interests of national oil companies against the fluctuations in global crude prices, the government on Monday decided to grant these PSUs limited freedom to fix petrol and diesel prices.
The proposals for grant of Maharatna status to four bluechip public sector enterprises-- ONGC, SAIL, NTPC and IOC--will soon be referred to a high- level secretaries' panel headed by Cabinet Secretary K M Chandrasekhar.
Initiating the process of allocation of coal mines, the government on Monday invited proposals from PSUs for alloting 17 blocks to them, mostly for captive power plants.
Heaving a sigh of relief, the apex association of Public Sector Enterprises, SCOPE, on Friday commended the Centre for shelving privatisation of 13 PSUs.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
"We have appointed a committee to examine the structure and functioning of four companies (MSTC, FSNL, KIOCL and HSCL) and make recommendations regarding their re-organisation, merger with other companies or other structural re-organisation as warranted," Steel Secretary P K Rastogi told PTI. The steel ministry is of the view that the proposed restructuring will enhance the efficiency and profitability of these companies, Rastogi said.
Kharge also targeted Prime Minister Narendra Modi, saying the people should not believe Modi's "guarantees".
Having successfully implemented the 25 per cent free-float norm for private companies, the Securities and Exchange Board of India now wants the government to pare its holdings in public-sector undertakings to below 75 per cent.
Centre might move swiftly on its next round of strategic sales in CPSEs
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