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 ...................

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News Network
February 12,2020

Kathmandu, Feb 12: Nepal has suspended the licence of a mountainous resort for three months due to poor security management and managerial weakness at the hotel where eight Indian tourists, including four minors, died of possible asphyxiation, according to media reports.

Kathmandu: Nepal has suspended the licence of a mountainous resort for three months due to poor security management and managerial weakness at the hotel where eight Indian tourists, including four minors, died of possible asphyxiation, according to media reports.

Tragedy struck a group of 15 tourists from Kerala when eight of them died on January 21 due to possible asphyxiation after they fell unconscious probably due to a gas leak from a heater in their room at a mountainous resort in Makwanpur district.

The tourists were airlifted to HAMS hospital here where they were pronounced dead on arrival. Makwanpur police said the victims might have fallen unconscious due to asphyxiation.

The Department of Tourism on Sunday imposed a ban on the operation of Daman-based Everest Panorama Resort for three months based on the report submitted by a probe committee formed to investigate the death of the Indian tourists from Kerala, the Kathmandu Post reported on Tuesday.

The department decided to shut down the resort as the report submitted by a probe committee pointed out poor security management and managerial weakness at the resort for the incident, it said.

The Ministry of Culture, Tourism and Civil Aviation had formed the probe committee under Surendra Thapa, the director of the Department of Tourism. After a field inspection, the committee had submitted its report a few days ago, pointing to the shortcomings of the resort.

During the investigation, the committee found the resort had not been following the recommended safety measures and was providing substandard services to its guests, The Himalayan Times reported.

Moreover, the committee discovered that the resort had not fulfilled the criteria set by DoT to be categorised a 'resort', it said.

Mira Acharya, director of DoT was quoted as saying by the report that the resort's operations have been halted as per Section 15 of Tourism Act-1979.

"If the resort owner wishes to resume services after three months of suspension, the resort should be upgraded as per the Hotel, Lodge, Restaurant, Bar and Tourist Guide Rules-1981 and also meet the criteria mentioned in a notice published in the Nepal Gazette under the title 'Hotel Classification and Criteria'," Acharya said.

She added that the resort would also have to undergo the Environment Impact Assessment to get the permission from DoT to resume operation.

Meanwhile, the resort management has said that they will work towards meeting the standards fixed by the department and run the resort efficiently.

"We will work towards meeting the standards fixed by the department and run the resort efficiently. We are saddened by the tragic incident. We will ensure that such incidents don't occur in the future,” said Sudesh Gautam, the operator of the resort was quoted as saying by the Kathmandu Post.

The group, after travelling to Pokhara -- a popular mountainous tourist destination -- was on their way back home and stayed at Everest Panorama Resort in Daman.

Those who were killed were Praveen Krishnan Nair, his wife Saranya Sasi and their three children and Ranjith Kumar Adatholath Punathil, his wife Indu Lakshmi Peethambaran Ragalatha and their son.

Everest Panorama Resort was established 28 years ago in Daman Simbhajyang area, a tourist destination in Bagmati Province. The tourist numbers, according to Thaha Hotel Association, have plunged after the tragic accident of January 27.

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News Network
May 12,2020

Udupi, May 12: The Coastal Bus Owner’s Association members have approached Deputy Commissioner to permit them to run bus service in the District.

Nearly 80 buses coming under the Coastal Bus Association and they are prepared to run the buses as per the guidelines set by the government. They have also requested RTO officials for permission to operate and are awaiting approval. If the bus service starts operating, many workers like drivers, conductors, cleaners, mechanics will get employment.

Coastal Bus Owners Association President Raghavendra Bhat said that the bus owners must provide services to the public as per regulations set by Deputy Commissioner.

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News Network
May 5,2020

Bengaluru, May 5: Life is limping back to a new normalcy in most parts of Karnataka with easing of Covid-19 induced restrictions yesterday as the State headed into the third phase of lockdown started since March 24.

According to the guidelines issued by the Centre, industrial activities, construction works, essential, non-essential shops, delivery of essential goods through e- commerce, courier and postal services, banking and agriculture activities, plying of four-wheelers and two-wheelers and inter-state movement of goods vehicles is permitted in all the zones, whereas buses are allowed to ply only in green and orange zone districts.

This apart, sale of liquor was also allowed at the designated shops. Police said vehicular movement is allowed only from 7am to 7pm for ordinary citizens.

Clarifying about the movement of people, Bengaluru police commissioner Bhaskar Rao tweeted, "From Monday you don't need a pass to move in Bengaluru between 7am and 7pm. After 7 pm and up to 7am the following morning, even if you have a pass you are not allowed to move except medical and essential service. Checkpoints will remain and your ID may be asked. Please be responsible." After the restrictions were lifted, heavy vehicular movement was witnessed in parts of Bengaluru leading to traffic jam in some areas.

Chikpet, which is the main trade area in Bengaluru, saw some activities.

With restrictions on public transport continuing, this unusually crowded place had very less footfall. "Movement of public is limited due to ban on public transport, such as city buses and Metro Rail.

"The trade activities are taking place between retailers," trade activist and joint secretary of Jain International Trade Organisation Sajjanraj Mehta said .

Select liquor shops in the city and other parts of the state pulled up shutters after being closed for about six weeks due to the lockdown with tipplers thronging them in huge numbers at many places.

Some traders in the city complained that they received notices regarding the Tax Deduction at Source for the month of April "thought here were no trading activities."

Meanwhile, Chief minister B S Yediyurappa announced on Monday that free bus service for migrant labourers, which is operating smoothly, has been extended till Thursday.

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