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
March 31,2020

Kottayam, Mar 31: A 91-year-old and 88-year-old senior citizen couple were discharged from the isolation ward of government medical college after getting treated from COVID-19 on Monday.

"It is a testimony to the dedication and expertise of the medical staff as well as the strength of the Kerala public health system. We shall overcome," Kerala Finance Minister Thomas Issac tweeted as he praised the healthcare services for treating the elderly couple considered as highly vulnerable to the contagious virus.

Apart from the two senior citizens, five others suffering from COVID-19 have also been treated and discharged from the hospital.
Thomas, 91, and his wife Mariyamma, 88, who were under treatment at the Kottayam Medical College were already suffering from various age-related problems. The 91-year-old had a heart attack and severe breathing trouble when he was under treatment.

"The aged couple based in Ranni in Pathanamthitta district had got infected with the virus after coming into contact with their son, wife and grandson who had arrived from Italy. COVID-19 was confirmed in them on March 8. They were admitted to Pathanamthitta hospital. However, they were shifted to the Medical College in Kottayam the very next day as their condition was critical," the Kerala government said.

The family will have to remain in home-quarantine for 14 more days.

The Union Health Ministry said the death toll due to COVID-19 has risen to 32 and the number of total coronavirus cases to 1,251 as on Monday. 

There are 1117 active cases in the country with the state of Kerala contributing the highest number of cases which stands at 202.

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News Network
July 6,2020

Jul 6: At least 8 lakh Indians may be forced to leave Kuwait as the country's legal and legislative committee has approved a draft expat quota Bill, reported.

The Bill, which states that Indians should not exceed 15 percent of the population, was determined as constitutional by the National Assembly, local media reported.

It will soon be transferred to the respective committee so that a comprehensive plan is created.

Expats account for 30 lakh of Kuwait's 43 lakh population. Indian community constitutes the largest expat community in Kuwait, totalling 14.5 lakh.

The move comes as the number of Covid-19 cases has spiked in the country, with 49,000 cases being reported so far.

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News Network
July 20,2020

Bengaluru, Jul 20: Karnataka on Monday reported 3,648 COVID-19 cases taking the tally to 67,420, informed the state health department.

According to a bulletin issued by the department, the state recorded 72 more deaths due to COVID-19 with the toll at 1,403 while six patients who tested positive for the infection have died due to non-COVID causes, as of Monday.

There are 42,216 active cases in the state.
As many as 730 patients were discharged today, taking the total discharged patients to 23,795.
Bengaluru recorded the highest number of cases and deaths today at 1,452 and 31, respectively, informed the state health department.

India's COVID-19 case tally crossed the 11-lakh mark with the highest single-day spike of 40,425 new cases and 681 deaths reported in the last 24 hours, said the Union Health and Family Welfare Ministry on Monday.

The total cases in the country now stand at 1,118,043 while the death toll is 27,497.

The ministry said the total number of cases include 390,459 active cases and 700,087 cured/discharged/migrated.

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