1. Home
  2. Modi govt to sell Air India, Bharat Petroleum by March 2020

Modi govt to sell Air India, Bharat Petroleum by March 2020

News Network
November 17, 2019

Nov 17: Air India-Bharat Petroleum disinvestment: Finance minister Nirmala Sitharaman Saturday said that the government is planning to sell state-run airline Air India and the oil marketing PSU Bharat Petroleum Corporation (BPCL) by March 2020.

The finance minister stated that the strategic disinvestment of the two state-run companies is critical for the government to meet its disinvestment target of Rs 1 lakh crore for the current fiscal year.

"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 added that there is a "lot of interest" among investors which is apparent in international roadshows ahead of Air India's sale. The government had to drop the national carrier's stake sale last year owing to investors' lukewarm response. But, it is counting on proceeds from disinvestment (which includes the strategic sale and public offers) to bolster its revenues in a year when tax collections suggest a likely fiscal slippage.

However, the government has been taking a lot of steps to arrest the downturn in the economy which is manifested in a lot of sectors coming out of distress, Sitharaman told the news daily. She further stated that the industry captains had contributed to improving their balance sheets and many of them were also mulling fresh investments.

The finance minister said that she expected GST collections to revive following an improvement in sales in some segments as well as owing to the government's measures to plug leakages lately. Commenting on the Supreme Court's recent verdict on Essar Steel, Sitharaman said that the ruling has strengthened the constitutionality and legal strength of the IBC law and it would have a significant impact on the balance sheets of banks in the next quarter.

She also claimed that there were indications of revival in consumer sentiment, which was exhibited in demand of around Rs 1.8 lakh crore in loans from banks at the outreach programme during the festival season.

"If consumer confidence is not on way to being restored, why would you think that such an amount would have gone out as loans during the two outreach programmes started by banks? And, it is all over the country," the finance minister told the news daily.

Comments

Mohammed
 - 
Monday, 18 Nov 2019

We will soon be known as India (Pvt) Ltd Country 

Mohan ss
 - 
Monday, 18 Nov 2019

Sell entire India to British, they were better than you, Acche din will come soon finally

shamshuddin mohammed
 - 
Sunday, 17 Nov 2019

AB BACHA KYA HAI ...................

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 2,2020

Bengaluru, Feb 2: A woman from Bengaluru lost Rs 2.8 lakh to a 'foreign friend' who promised her gifts, including gold jewellery and foreign currency.

Priya, 37, of Banashankari III Stage, told police a man named Bright Wills from England befriended her on social media in December 2019.

On December 20, Wills said he would send gold ornaments and some British pounds as gifts to celebrate their friendship and took her postal address.

“A woman claiming to be an official from the customs office, Delhi, called me on December 21. She told me there was a courier from England in my name and I should pay Rs 75,000 tow ards customs clearance. I believed her and transferred Rs 75,000 to a bank account number provided by her. On December 23, another woman called and said gold ornaments had been sent to me by courier and I had to pay Rs 2.1 lakh towards the paperwork. I transferred the money to another account number mentioned by her," Priya told police.

"On December 25, I received an email which said I should make a surety deposit of Rs 4.3 lakh within 48 hours or else the courier would be sent back to its original destination. I realised I had been cheated by Wills and others. Till now, I have paid Rs 2.8 lakh to them," she claimed.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com web desk
July 27,2020

New Delhi, Jul 27: A month after banning 59 Chinese applications, the government of Indian has now reportedly banned 47 more apps of Chinese origin in the country. According to sources, the 47 banned Chinese apps were operating as clones of the earlier banned apps. 

The list of the 47 Chinese applications banned by the Indian government will be released soon.

India has also prepared a list of over 250 Chinese apps, including apps linked to Alibaba, that it will examine for any user privacy or national security violations, government sources said. The list also includes Tencent-backed gaming app PUBG.

Some top gaming Chinese applications are also expected to be banned in the new list that is being drawn up, sources said. The Chinese applications, that are being reviewed, have allegedly been sharing data with the Chinese agencies.

Today's decision follows after a high-profile ban of 59 Chinese apps including TikTok, as border tensions continued in Ladakh after a violent, fatal face-off between the Indian and Chinese armies. The government said these apps were engaged in activities that were prejudicial to the sovereignty, integrity and defence of India.

A government press release announcing the ban stated: "The Ministry of Information Technology, invoking it's power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats has decided to block 59 apps since in view of information available they are engaged in activities which is prejudicial to sovereignty and integrity of India, defence of India, security of state and public order".

A day later, Google said it has removed all the banned applications from the Play Store. Following the ban, TikTok refuted the claims that suggest it will pursue legal action against the Indian government for banning the app in India.

Reacting to the 59 apps banned by India, the Chinese Foreign Ministry said the country is "strongly concerned regarding the decision of the Indian government".

“China is strongly concerned, verifying the situation,” Chinese Foreign Ministry spokesperson Zhao Lijian was quoted as saying by news agency ANI.

"We want to stress that the Chinese government always asks Chinese businesses to abide by international and local laws-regulations. The Indian government has a responsibility to uphold the legal rights of international investors including Chinese ones," Zhao Lijian said.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 10,2020

Kasaragod, Apr 10: The death of five cats in the general hospital-turned-Covid-19 isolation centre here recently has evoked a little bit of scare among the health authorities who are eagerly awaiting the viscera test results of the dead animals.

The death of the cats has evoked anxiety in the backdrop of a tiger in a zoo in United States tested positive for Covid-19 recently.

It was recently that the hospital authorities had noticed the death of the cats, which include two male and a female adult and two kittens, were long been seen in and around the hospital compound.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.