(ET) Amid questions raised over stake sale in profit-making PSUs, the government said in Rajya Sabha that the criteria for disinvestment were not profit or loss. In oral reply to a question from Shiv Sena MP Sanjay Raut, Minister of State for Finance, Anurag Thakur said that the criteria for disinvestment have been fixed by Niti Aayog and it is not on the basis of profit or loss. The Minister said that the criteria have been decided on the basis of national security, sovereign functions, market imperfections and public purpose.”The government follows the policy of disinvestment, strategic disinvestment of CPSEs, which are not in priority…
Author: Aruna Sharma
(ET) India’s power demand fell 4.3 per cent in November from a year ago, representing the fourth straight month of decline, government data showed, potentially reflecting a worsening industrial slowdown which has stifled overall economic growth. In October, the country’s power demand fell 13.2 per cent from a year ago, its steepest monthly decline in more than 12 years, as a growth slowdown in Asia’s third-largest economy deepened. An official at India’s Ministry of Power attributed the tepid electricity demand to an early onset of winter and high rainfall, which he said has reduced the need for air conditioning. However, electricity demand from industries account…
(AU) लोकसभा में पहली परीक्षा पास करने के बाद नागरिकता संशोधन बिल पर सरकार की अग्निपरीक्षा बुधवार को होगी। गृह मंत्री अमित शाह दोपहर दो बजे संशोधन बिल राज्यसभा में पेश करेंगे। इस बीच लोकसभा में बिल का समर्थन करने वाली शिवसेना के यूटर्न और जदयू में खटपट के बाद हालांकि विपक्ष का हौसला बढ़ा है, मगर इसके बावजूद संख्या बल सरकार के साथ है। बिल पर राज्यसभा की मुहर लगते ही तीन पड़ोसी देशों के गैरमुस्लिम अल्पसंख्यकों की भारत की नागरिकता हासिल करने की राह आसान हो जाएगी। सोमवार को सरकार ने प्रचंड समर्थन और विपक्ष में बिखराव की…
(ET) Chief Economic Advisor Krishnamurthy Subramanian said the disinvestment of a profitable company like BPCL reflects a change in the way government views disinvestment and privatization. “So far effectively the disinvestment figure had to decide fiscal deficit figure… but what we see now basically profitable companies like Bharat Petroleum is also being given to the private sector. It’s a change in stance the way we view disinvestment and it also explains why this is required,” Subramanian said while speaking at FICCI ARISE Conference 2019. Batting for private investment, the CEA said: “The private sector does a far better job of taking the savings of the…
(The Pioneer) Online registrations for IndiaSkills 2020, the biennial competition to scout talent from the country, organised by the Ministry of Skill Development and Entrepreneurship has been extended till December 31. The competition is aimed at encouraging the country’s youth to aspire to attain world class skills and compete at the global stage. The IndiaSkills competition will provide India’s skilled youth with a platform to showcase their abilities at regional and national level competitions across over 50 skills. Regional legs of the competitions are organised across the four zones, culminating at the national competition in Delhi. Winners of IndiaSkills will…
(News18) India and Japan have agreed to work together to tap the huge potential in domestic energy and steel sectors, Union minister Dharmendra Pradhan said . His remarks came in a series of tweets after meeting a Japanese delegation. Several leading Japanese companies have tied up with Indian steel firms, Pradhan said while inviting them to invest in India and leverage its huge growing market. “Invited Japan to partner in growth of hydrocarbons and steel sectors as India is working on building a USD 5 trillion economy by 2024, as envisioned by Hon. PM Shri @narendramodi. Also invited Japanese companies to…
(RE) Reliance Industries and Abu Dhabi National Oil Company (ADNOC) have signed a framework agreement to explore development of an Ethylene Dichloride (EDC) facility in Ruwais, the companies said in a joint statement.The planned unit will help RIL in procuring EDC, a key raw material used in the manufacturing of a polymer product, Polyvinyl chloride (PVC). PVC products are used in the housing and agriculture sectors, and demand for it, particularly in the Indian vinyls market, is expected to grow. “This is a significant step towards Reliance’s commitment to pursue backward integration and will pave the way for enhancing PVC…
(PTI) Bihar deputy chief minister Sushil Modi will be the convener of a Group of Ministers on Integrated Goods and Services Tax (IGST) replacing Finance Minister Nirmala Sitharaman, GST Council sources said on Tuesday. Sitharaman was inadvertently mentioned as the convenor of the panel set up to discuss issues relating to IGST after she had a meeting with Punjab, Madhya Pradesh and Rajasthan finance ministers and deputy chief ministers of Delhi and Puducherry on December 4, they said. Since the Union Finance Minister is the chairperson of the GST Council, she could not have headed the panel, they said. The GoM…
(FE) There is good news for the State Government employees of the erstwhile State of Jammu and Kashmir who are now working in the Union Territory of Jammu and Kashmir and the Union Territory of Ladakh. Union Minister of State for Home Affairs G. Kishan Reddy, in a written reply to a question regarding development of new UTs of Jammu and Kashmir and Ladakh, in Lok Sabha today, informed the House that certain 7th Central Pay Commission (CPC) allowances namely Children Education Allowance, Hostel Allowance, Transport Allowance, LTC, Fixed Medical Allowance that were not being given to nearly 4.5 lakh…
(LiveMint) India asked Japan on Tuesday to take steps to reduce the Japanese trade surplus and sought more market access for Indian goods and services, a government statement said, before Japanese Prime Minister Shinzo Abe’s visit next week.Prime Minister Narendra Modi and Abe plan to hold a summit in Guwahati on Dec. 15-16. During Modi’s visit to Tokyo last year, they agreed to seek closer economic and military ties as both countries are wary of China. Bilateral trade between the two countries rose to $17.63 billion in 2018/19 from $10.9 billion in 2008/09. The trade balance widened to $7.9 billion…