(BS) Finance Minister Nirmala Sitharaman on Saturday said the government would wrap up the sale of Air India and Bharat Petroleum Corporation Limited (BPCL) by March 2020, according to a news report in. Sitharaman also said there is a “lot of interest” among investors about the sale of Air India as seen in the international roadshows carried out by the Government. “We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” Sitharaman told the Times of India.The finance minister stated the strategic disinvestment of the two state-run companies is critical for the government to meet its disinvestment target of Rs 1 trillion for the…
Author: Aruna Sharma
(PTI) Union Home Minister Amit Shah on Sunday launched the supply of special winter-grade diesel for high altitude Ladakh, which faces sub-zero temperatures during the winter months. Inaugurating through video conference the supply of the fuel to the newly created Union Territory (UT), the Home Minister said the winter-grade diesel has been developed by the Indian Oil Corporation Limited (IOCL) to address the problem of loss of fuel during extreme winter conditions. Motorists in high-altitude areas like Ladakh, Kargil, Kaza and Keylong face the problem of freezing of diesel in their vehicles when winter temperatures drop to as low as minus 30 degree…
(FE) Even as economic slowdown and rising unemployment rates are likely to be flash points between the Opposition and treasury benches in the Winter session of Parliament beginning Monday, the Centre will seek to convert the two Ordinances on reduction of corporate tax rates and ban on e-cigarettes into law, besides seeking to amend the Insolvency and Bankruptcy Code and Banking Regulation Act to achieve certain stated objectives. The Insolvency and Bankruptcy Code (IBC) Amendments Bill will seek to raise the number of home-buyers who can invoke insolvency proceedings against realty developer and also introduce individual insolvency and cross-border insolvency…
(LiveMint) The government is in no hurry to recover revenue dues from struggling telecom firms as a panel of secretaries is looking into the companies’ demands for relief, finance minister Nirmala Sitharaman said on Friday. The minister also said the government was working on bills seeking to raise the insurance cover on bank deposits from the existing Rs.1 lakh, besides regulating multi-state cooperative banks. These bills will be introduced during the winter session of Parliament, starting Monday, she told reporters.Sitharaman also dismissed concerns that the government’s welfare spending may get affected on account of a possible revenue shortfall amid the ongoing…
(PTI) Prime Minister Narendra Modi decided to stay out of RCEP keeping in mind India’s economic interests, especially of northeastern states, Defence Minister Rajnath Singh said today. He also said that if India had joined the Regional Comprehensive Economic Partnership (RCEP), farmers, labourers and industries would have been adversely affected. “At the recent ASEAN Summit in Bangkok, our prime minister took a very important decision that India will not be part of RCEP. This is not a small thing,” Mr Singh said after inaugurating the Sisseri Bridge. The 200-metre long permanent bridge connects the Siang Valley and the Dibang Valley in…
(ET) The Madurai LPG bottling plant of the Indian Oil Corporation (IOC) in Mattaparai village in Dindigul district, will soon enhance its storage capacity from the current 900 (3 x 300) metric tonne (MT) by another 1,800 (3 x 600 MT). The plant is awaiting regulatory clearance. Speaking to reporters in Madurai on Thursday, DGM K S Shankar, DGM (LPG), Tamil Nadu, and general manager R Chidambaram, southern region said the 37-acre campus has state-of-the-art security measures including fire safety equipment and caters to Madurai, Dindigul, Virudhunagar, Tuticorin, Tirunelveli and Kanyakumari districts through a network of 115 distributors. The plant has a capacity to fill…
(ET) PM Narendra Modi has made certain unique announcements across sectors including in counter-terrorism, water conservation and health in the just concluded Brazil BRICS summit to promote intra-BRICS cooperation. During the plenary session of BRICS in Brasilia on Thursday, Modi also placed special emphasis on intra-BRICS trade and goods and services and welcomed the BRICS joint statements endorsement on reformed multilateralism. “Multi-lateralism, international trade, and rules-based world order are grappling with serious problems. Last year we emphasized on reformed multilateralism. I am glad that the joint statement of this summit will recognize its need. We must form a collective strategy…
NTPC Ltd the country’s largest power generating company, unveiled its Safety Mascot ‘KAWACH’ to enhance the culture of safety across the organisation.Safety Mascot ‘KAWACH’ represents NTPC’s firm belief in workplace safety. It symbolises NTPC’s constant endeavour to provide a safer working environment and strive for zero incidents at work. With this mascot, NTPC aims to be the ‘KAWACH’ for all its employees. The Brand Mascot also lives with NTPC’s sentineling commitment to building a strong relationship with all its stakeholders.Mascots have great power to communicate what the company believes in and stands for. ‘KAWACH’ will remind us all the time…
Steel Authority of India Limited (SAIL) declared the results for the Second Quarter of the current Financial Year (Q2 FY’20) today. The Company posted a net loss of Rs 342.84 Crore in Q2 FY’20. Considering the weak market sentiments and global consumption trends during the last few months, the overall margin of the steelmaker was affected, similar to other domestic steel producers.Owing to the extended monsoon season and low demand from the core sectors, the domestic steel demand was also affected. Notwithstanding these, SAIL achieved its best ever Q2 Hot Metal and Crude Steel production during Q2 FY’20. Shri Anil…
(PTI) NCP chief Sharad Pawar on Friday said a Shiv Sena-NCP-Congress government will be formed and it will complete five-year term as he ruled out the possibility of mid-term polls in Maharashtra which is currently under Presidents rule. He said the three parties want to form a stable government which will be development-oriented. There is no possibility of mid-term polls. This government will be formed and it will complete five years. We all will ensure this government runs for five years, Pawar told reporters here.Asked whether the BJP was holding discussion with the NCP over government formation in the state,…