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
July 26,2020

Bengaluru, Jul 26: Paying tributes to the martyrs of Kargil war on its 21st anniversary, Karnataka Chief Minister B S Yediyurappa on Sunday said his government always stood by the soldiers and families of those who laid down their lives to protect the borders of the country.

"The government is always committed to the welfare of the soldiers. Karnataka has formed a separate department for the welfare of the soldiers and their families. We always stand with the families of the martyred soldiers," he said. He was addressing soldiers after paying tributes to the martyrs of the Kargil war at an official function organised on the occasion of Kargil Vijay Diwas at the National Military Memorial Park in the city by the Sainik Welfare and Resettlement Department under the state Home Department. 

Yediyurappa described as a symbol of India's valour and sacrifices the Kargil Vijay Diwas, observed to commemorate its victory over Pakistan in the war that ended on July 26, 1999 with recapture of the territory in Kargil. He said the state government has given due compensation to the families of the Kargil martyrs and the soldiers who were injured.

Recalling the conflict, Yediyurappa said Pakistan had set its eyes on grabbing the vast terrains of Kargil and Drass sector in Jammu and Kashmir but the Indian soldiers successfully fought a deadly battle at a height of 17,000 feet where the temperature goes up to minus 30 degrees celsius.

"The sacrifices of our soldiers will remain etched in our memories forever. The tale of the 527 soldiers, who sacrificed their lives to save our country, is a constant source of inspiration for our youth," the Chief Minister said. He also noted Karnataka's contributions to the Indian army and said the state had given two Generals, one Field Marshall, many army officers and innumerable soldiers to protect the country's borders. 

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 4,2020

Bengaluru, Jun 4: Karnataka opposition leader Siddaramaiah created a flutter on Wednesday saying many disgruntled BJP leaders had met him.

"Many disgruntled BJP lawmakers have met me and, of course, expressed their displeasure," tweeted Siddaramaiah.

Congress leader Siddaramaiah''s statements assume significance as recently several reports emerged highlighting some north Karnataka legislators meeting over dinner to put pressure on Chief Minister B.S. Yediyurappa to expand the cabinet and offer them ministerial roles.

North Karnataka leaders such as Umesh V. Katti, Chitradurga MLA G. H. Thippareddy and Vijayapura MLA Basanagouda Patil Yatnal and others met over dinner.

However, the Chief Minister said he was too busy to even look at the dissidence because he is occupied with development work of the state and fighting Covid.

Siddaramaiah, the former chief minister, alleged that Yediyurappa''s son Vijayendra is functioning as a non-constitutional chief minister.

"This is true in the BJP. That dissent will continue. We are not responsible if the government collapses," he pointed out.

The Congress leader said Karnataka has stooped to the level of not being in a position to even pay salaries to its employees.

"The state was the first in economic discipline during our government. Now the government has no money to pay salaries to government employees. Not only the state but the entire country is financially bankrupt," he said.

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
May 27,2020

Bengaluru, May 27: A 69-year-old woman from Yadgiri became the 45th COVID-19 related fatality in Karnataka, where 122 fresh cases have been reported, taking the total number of infections in the state to 2,405, the health department said on Wednesday.

With 45 deaths and 762 discharges, there are 1,596 active coronavirus cases in the state, the department said in its mid-day bulletin. It said, the deceased woman, a returnee from Maharashtra was brought dead to designated hospital in Yadgiri on May 20 and tested positive for COVID-19.

Fourteen patients have been discharged in the state so far on Wednesday. Of the 122 new cases, 108 are returnees from neighboring Maharashtra, three from Tamil Nadu, and one each from Uttar Pradesh, Gujarat, Madhya Pradesh, Kerala and Delhi. While two are returnees from foreign countries- one each from UAE and Nepal.

Remaining four cases are contact of patients earlier tested positive.

Among the districts where new cases were reported, Kalaburagi accounted for 28, Yadgiri 16, Hassan 15, Bidar 13, Dakshina Kannada 11, Udupi 9, Bengaluru Urban 6, five each from Uttara Kannada and Raichur, Belagavi 4, Chikkamagaluru 3, two each from Bengaluru Rural and Vijayapura, and one each from Ballari, Mandya and Tumakuru.

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.