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

  • 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
March 25,2020

Bengaluru, Mar 25: In what is suspected to be the second COVID-19 death in Karnataka, a 70-year-old woman from Gouribidanuru, who was under house quarantine for the last one week has died at Rajiv Gandhi Hospital for Chest Diseases.

The woman, who had recently returned from the Mecca pilgrimage developed fever on Tuesday afternoon. She was rushed to hospital, where she died on Wednesday morning.

Health and Family Welfare officials said that the throat swab sample of the woman had been sent to the laboratory for testing and the result was expected to come by afternoon.

Since last week, at least three cases of COVID-19 positive had been reported in Gouribidanuru in Chikkaballpura district, about 80 kms from Bengaluru.

Most of the suspects and confirmed cases had returned from Makkah pilgrimage. Even the deceased woman was one of them and had been advised house quarantine.

On Tuesday morning, she developed fever and was shifted to Gouribidanur hospital and later to Chikkaballapura hospital. By evening, she was moved to Rajiv Gandhi hospital, where she died on Wednesday morning.

The Chikkaballapura district administration has proclaimed prohibitory orders in the locality. They have also taken the woman's family members for testing.

Comments

Add new comment

  • 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
June 18,2020

Bengaluru, Jun 18: Two employees at a plant of Toyota Kirloskar Motor in Karnataka's Bidadi have tested positive for COVID-19, the automobile company said in a statement on Wednesday.

According to the auto major, the two employees had attended work on June 7 and 16 respectively.

"As a first step and through appropriate contact tracing, TKM has started identifying all those employees who may have had primary or secondary contact with the infected employees for necessary treatment and quarantine wherever necessary and is in contact with the local government authorities," the statement said.

Toyota Kirloskar Motors had restarted operations after weeks of nationwide lockdown to prevent the spread of coronavirus on May 26. It said that all necessary precautions were to maintain social distancing and all Central and state government directives were being followed.

"However, despite all such measures, two employees at TKM's Bidadi plant tested positive for COVID-19 on June 16th, 2020. Operations at TKM plant has already been temporarily suspended so that required disinfection can be carried out at the plant," the statement said.

"TKM has extended all necessary support to the infected employees for medical treatment as well as quarantine procedures. The company is in touch with the families of the infected employees so as to support them to handle this situation carefully without further complications," it added.

 

Comments

Add new comment

  • 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 news network
June 11,2020

Mangaluru, June 11: The Saudi Arabia based Expertise Contracting Company, which is repatriating its employees to India and other countries, today allocated around 90 seats of one of its chartered flights to Kannadigas stranded in Saudi Arabia. 

The Gulf Air flight took off with around 175 passengers on board from Dammam International Airport around noon local time. It is expected to land at Mangaluru International Airport at around 7 p.m. Indian time. 

In fact the company had chartered the flights only to repatriate its employees. However, due to the lack of special flights under Vande Bharati Mission, the company decided to help the other stranded Kannadigas in Saudi Arabia, who had approached Saudi Kannadigas Humanity Forum for help. 

A company official said that around 2,000 employees from various countries in the Indian subcontinent are being repatriated, of which 1,665 are Indians.  Already hundreds of them have reached India, and hundreds are still waiting for repatriation. 

“We are grateful to Expertise for allowing to travel in the flight which the company had chartered to repatriate its own employees,” said one of the passengers before boarding the flight at the airport.  

Director of Expertise, KS Shaikh said the 20-year-old Expertise group, one of the largest conglomerates in the GCC operating in petrochemical and heavy equipment sectors, has more than 10,000 employees and their family members in the Gulf, mainly in Jubail, one of the largest industrial cities.

Of these, the company has chosen over 2,000 employees for the covid-related repatriations considering various emergencies. He said 12 chartered flights have been engaged to carry out the repatriation exercise to the Indian subcontinent.

Comments

Mohammed Arbaz alam
 - 
Saturday, 13 Jun 2020

DUBAi se delhi normal flights kab chalu ho ga ham log bhaut parsan hai 

3 months ho geya room nahi Pia's a nahi dawa ke liya paisa nahi hai khane 

Ke liya nahi hai

Nagendra Dm
 - 
Saturday, 13 Jun 2020

Dear sir am working in saudi Arabia before two months now no job please bring me back 

Add new comment

  • 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.