Petroleum Ministry is considering cutting down the number of independent directors on board in an oil PSU to 33%.
Core sectors like manufacturing were the second largest recruiters at the newer IITs.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
The anti-labour policies of the government will leave the employees in the lurch and take away all their safeguards, says V K Gupta, Delhi convenor of United Forum of Bank Unions.
The view is that the attention on the national team is fleeting, incidental and dependent on the results they produce.
India's natural gas production is projected to jump by 52 per cent to 122 million standard cubic metres per day by 2024 as state-owned Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd-BP combine raise output from the KG basin fields. Natural gas production in 2019-20 was 85 mmscmd, which is estimated to have fallen to 80 mmscmd in the following year, HDFC Securities said in a report. The output is projected to rise in the current fiscal that started on April 1 to 93 mmscmd, 107 mmscmd in the following year and 122 mmscmd in 2023-24, the brokerage estimated.
No divestment of oil PSUs during during the month-long recess of the current Budget session of Parliament beginning March 14, Parliamentary Affairs Minister Sushma Swaraj categorically assured Lok Sabha on Thursday.\n\n
Putting money in key PSUs a better option
Concerned over the staggering Rs 2,100 crore (Rs 12 billion) statutory dues of ailing public sector undertakings in the midst of a cumbersome and time consuming winding up process
Divestment commission for sale of 4 PSUs
Taking strong exception to former West Bengal chief secretary Alapan Bandyopadhyay skipping a meeting of Prime Minister Narendra Modi, government sources on Wednesday said his conduct has made a severe dent to Indian Administrative Service and it could lead to anarchy.
India-born billionaire Lakshmi N Mittal's proposed Rs 3,365 crore investment in Hindustan Petroleum Corp Ltd's Bhatinda refinery in Punjab will have to wait for government approval as the Cabinet did not take up the issue on May 24.
The central government-owned companies shed 31,000 employees during 2008-09, the year which witnessed global economic downturn hitting the world economies including India.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Supreme Court says the 'whole exercise appears to be an eyewash'.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
India needs $70bn of private investment in infrastructure and will not get it without a level playing field.
Corporate social responsibility for a state-owned firm may no more be a "photo opportunity" for its chairman but would involve people-centric projects to be funded by 2-5 per cent of the company's net profits.
The countdown for BG's stake sale in Gujarat Gas Company (GGCL) begins tomorrow. Three months after BG made its intention of divesting its stake clear, over half a dozen potential bidders are likely to submit non-binding bids for BG's 65.12 per cent stake in the country's largest natural gas distributor by sales.
The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.
In the midst of a raging debate over allowing multinationals in the retail sector, Infosys mentor N R Narayana Murthy on Saturday favoured MNCs in the sector saying consumers will benefit from their entry.
Finance Minister P Chidambaram on Tuesday said the government was unlikely to divest its stake in any of the profitable public sector units in near future.
Divestment is the government's mantra to earn big bucks at a time when the country is reeling under a crisis.
Complimenting Indian managers and business leaders for the courage and enterprise they have demonstrated in facing up to the challenges of globalisation and liberalisation, the PM felt that there was a sea change in Indian business today.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
Replying to questions in Rajya Sabha, he said CAG in its audit observations has pointed out financial irregularities of Rs 1404.32 crore (Rs 14.04 billion) in its 2008 report and Rs 4547.63 crore (Rs 45.47 billion) in the 2007 report. Deshmukh said CAG has also pointed out reasons for deficiencies in the accounts of PSUs.
BKS and BMS leaders have told the BJP leadership that it is staring at a build-up of anti-government propaganda in the run-up to polls in five states.
For the first time in seven months, state-run fuel retailers are making losses on selling diesel and together with negative returns on petrol, LPG and kerosene, the companies may lose Rs 38,700 crore (Rs 387 billion) in revenues this year.
Petroleum Minister Murli Deora will meet Finance Minister P Chidambaram next week to discuss a package to bail out public sector oil firms that have been suffering huge losses on account of selling fuel on discounted prices.
The Centre has asked all states to set up special search committees to find out talented people who could be nominated for Padma awards but so far have been left out of consideration despite their exceptional contributions.
May dilute stakes in PSUs to 90% instead of big-bang approach
Finance Minister Nirmala Sitharaman on Tuesday said monetisation of Central Public Sector Enterprises (CPSE) assets is based on the principle of value creation for the government and investors and would bring about a paradigm shift in infrastructure augmentation and maintenance. Chairing the National Workshop with the states/UTs on Asset Monetisation organised by Niti Aayog, the minister sought the collaboration of states for the holistic development of infrastructure. She said India can become a $5 trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, through active collaboration between the public and private sector.
Struggling to meet budget targets, the government had in the just concluded fiscal asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
This is significant as the turnover of the CPSEs during the whole of 2007-08 went up by 12.13 per cent to Rs 10.82 lakh crore (Rs 10.82 trillion). The 36 per cent increase in turnover recorded by the central PSUs during the first half does not reflect the impact of the global financial meltdown on the performance of the state-owned companies.
This happened in a year which witnessed the overall increase in the CPSEs' profits from Rs 89,578 cr a year ago to Rs 91,140 cr. It is not linked to the global financial crisis, which resulted in the loss of jobs of 5 lakh workers during four-month period ending December 2008. The CPSEs' employee strength has been reducing since 2001-02, during which they had a staff of about 20 lakh. The number fell gradually to 16.14 lakh during 2006-07 and further to 15.7 lakh in 2007-08.
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