Effective tax rate is the portion of profits which companies pay as corporate tax after seeking exemptions, as against the statutory tax rate of 33.9 per cent.
The Trinamool Congress supremo said at an election meeting at Bhabanipur where she is contesting by-polls to be held on September 30, that she had been invited to Rome in the first week of October to attend a global peace meeting in which the Pope, other religious heads, dignitaries from various countries are slated to attend, where she would have been the only Indian and 'only Hindu lady'.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing markets like Africa which are up for divestment.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
The government expects to realise Rs 35,100 crore from the partial sale of Bharatnet fibre assets and around 13,500 mobile towers owned by state-run telecom firms as part of its national monetisation pipeline released on Monday. Government think tank Niti Aayog has valued over 2.86 lakh kilometre of optical fibre assets laid by BBNL and BSNL under rural broadband project Bharatnet at Rs 26,300 crore, according to the National Monetisation Pipeline (NMP) document. According to the document, BSNL's 13,567 mobile tower assets and MTNL's 1,350 towers have been valued at Rs 8,800 crore.
Talks with 5 corporations have been held on Friday.
The list is of companies declared sick as on March 31, 2014.
Gujarat, which made the highest investment among states in public enterprises, is ranked sixth in terms of generating employment in these units, a survey says.
The number of loss-making state-owned enterprises was 54 as on March 2008. The cumulative losses in these enterprises increased to Rs 96,636 crore (Rs 966.36 billion) in 2007-08 from Rs 77,826 crore (Rs 778.26 billion) in 2004-05.
Vijay Mallya-owned Kingfisher Airlines owes state-run oil companies over Rs 950 crore (Rs 9.50 billion0 in unpaid fuel bills while financial crisis-hit NACIL has cleared almost two-thirds of its outstanding.
State-owned oil companies IOC, BPCL and HPCL are likely to post net losses in the first quarter of the current fiscal as a result of selling fuel below cost price.
State-owned enterprises are depending more on government money to fund their capital expansion in the wake of the economic downturn.
The government may bestow the coveted 'MahaNavaratna' tag on oil majors ONGC and IOC, telecom firm BSNL, power utility NTPC, steel-maker SAIL and Coal India to given them greater autonomy and powers to take decisions to invest up to Rs 5,000 crore (Rs 50 billion).
Understanding how money works is the first step toward making your money work for you, says Harshad Chetanwala, co-founder MyWealthGrowth.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
'The markets have corrected almost 8-9 per cent from their highs, so one can accumulate quality stocks at reasonable prices.'
The government is reviewing a proposal by an expert group to lower the weightage to financial parameters of central public sector enterprises while fixing their overall annual targets.
"Wheresoever public money is involved, there should be responsibility, autonomy and a monitoring system," said Department of Public Enterprises Secretary R Bandyopadhyay. As is the case with the CPSEs, the state level public enterprises would also be given targets in conformity with the long-term mission and vision of the enterprises. There are about 1,000 SLPEs which the Centre feels can show improvement if the monitoring mechanism is strengthened & accountability enhanced.
In Bihar, where a bandh had been called, a railway station and a police vehicle were torched, an ambulance attacked and security personnel injured in stone-pelting incidents on the fourth consecutive day of the agitation, while protesters vandalised Ludhiana railway station in Punjab and blocked roads and rail tracks in West Bengal, Haryana, Rajasthan, Maharashtra, Odisha and Uttar Pradesh.
Petrol price in Delhi was hiked to Rs 77.28 per litre from Rs 76.73, while diesel rates were increased to Rs 75.79 a litre from Rs 75.19, according to a price notification from State oil marketing companies. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
Oil India and other PSUs had filed clarificatory /modificatory petition before the Supreme Court. These companies own and operate telecom networks though they do not provide telecom services.
Within two days, the business school had 108 recruiters making 370 domestic and international offers, including 23 new final recruiters with an average salary of Rs 25.08 lakh.
Government-owned companies are more generous in rewarding their shareholders with dividends.
The top-100 wealth creators generated Rs 49 lakh crore during 2014-19, the highest-ever quantum of wealth added, according to Motilal Oswal's Annual Wealth Creation Study 2019. According to the study, Reliance Industries, Indiabulls Ventures and IndusInd Bank are the biggest, fastest and most-consistent wealth creators, respectively. The number of PSUs in the top-100 wealth creators is only nine, namely IOC, BPCL, HPCL, Power Grid Corporation, Petronet LNG, Indraprastha Gas, LIC Housing, Bharat Electronics and NBCC.
The United Progressive Alliance government on Monday said it will pursue privatisation of public sector firms on a case-by-case basis and, as a policy, sell-off or close loss-making companies while giving autonomy to profit-making ones.
Ruling out divestment in public sector units under his ministry, Chemicals and Fertilisers Minister Ram Vilas Paswan said on Thursday that the government would make all efforts to revive ailing enterprises like Hindustan Antibiotics Ltd.\n\n\n\n
A second wave of Covid driven by the Delta variant engulfed the country in May-June bringing the health system to its knees and leaving people gasping for help.
IRFC, NHAI, Hudco and others to hit the market in next few months.
The NITI Aayog has recommended privatisation of state-owned insurer United India Insurance Company as the government aims to move ahead with its new public sector enterprise (PSE) policy for Atmanirbhar Bharat. The policy think tank has suggested that the public sector insurer be considered for privatisation in the banking, insurance and financial services sector, which has been classified as 'strategic' in the PSE policy, said an official. The policy proposes the "bare minimum" presence of government-owned companies in strategic sectors, and privatisation, merger or closure of remaining public sector undertakings (PSUs).
Even in the protected world of India's sick public sector units, it takes a special kind of government company to lose Rs 8 crore (Rs 80 million) a day, while earning just Rs 10 crore (Rs 100 million) as revenue - and that in the booming field of telecommunications.
Reliance Industries earned a breather when PSU oil firms revised their requirement of diesel from it to 3.7 million tonnes in 2004-05.
The timeline for disinvestment of Air India and Bharat Petroleum Corporation (BPCL) may be pushed by two to three months due to impact of the second Covid-19 wave. However, the government is confident of wrapping up the sale of the two companies by FY22 and meeting the disinvestment target of Rs 1.75 trillion. This will be achieved by sale of government stake in core and non-core public sector undertakings (PSUs).
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