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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coastaldigest.com news network
May 27,2020

Mangaluru, May 27: Mangaluru MLA U T Khader today urged Dakshina Kannada MP and Karnataka BJP chief Nalin Kumar Kateel to pave the way for immediate repatriation of Mangalureans stranded across Gulf countries.

The development comes amidst reports that lack of preparedness on part of the authorities concerned in Dakshina Kannada compelled the Centre to delay the operation of repatriation flights from various Gulf to Mangaluru International Airport under Vande Bharat Mission.

Lakhs of people from Mangaluru region (coastal Karnataka) alone are working in middle eastern countries like Saudi Arabia, United Arab Emirates, Kuwait, Bahrain and Qatar. Thousands of them are currently stranded thanks to covid-19 lockdown and are helplessly waiting for repatriation.

Speaking to coastaldigest.com, Mr Khader said he already spoke to Mr Kateel and brought to his notice the plight of Mangalureans in Saudi Arabia and other gulf countries. "There are a large number of pregnant women, senior citizens and patients who need immediate repatriation. It is the responsibility of the elected representatives and district administration to pave the way for the repatriation of our people and arrange quarantine facilities for them," he said. 

"Mr Kaeel is not only MP of Dakshina Kannada. He is also the chief of Karnataka's ruling party. Hence, he must play a crucial role in facilitating the return of Kannadigas in general and Mangalureans in particular," Mr Khader said. 

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Agencies
May 1,2020

New Delhi, May 1: The Ministry of Home Affairs (MHA) on Friday issued an order under the Disaster Management Act, 2005 to further extend the lockdown for a further period of two weeks beyond May 4.

The current lockdown period is scheduled to end on May 3.

"After a comprehensive review and in view of the lockdown measures having led to significant gains, the COVID-19 situation in the country, Ministry of Home Affairs issued an order under the Disaster Management Act, 2005, today, to further extend the lockdown for a further period of two weeks beyond May 4, 2020," read the order of the Home Ministry.

In red zones and outside containment zones, certain activities including plying of cycle rickshaws and auto-rickshaws, taxis and cab aggregators, intra-district and inter-district plying of buses and barber shops, spas and salons will be prohibited in addition to those prohibited throughout India.

A limited number of activities will remain prohibited across the country, irrespective of the zone, including travel by air, rail, metro and inter-state movement by road, running of schools, colleges, and other educational and training/coaching institutions, the order said.

This came after Prime Minister Narendra Modi's meeting with chief ministers of several states last month where some of them suggested extension of lockdown.

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News Network
February 12,2020

Bengaluru: Karnataka chief minister BS Yediyurappa on Tuesday shuffled the portfolios of six newly inducted ministers after they expressed unhappiness about the departments allocated to them barely 24 hours ago.

Three ministers — BC Patil, Anand Singh and K Gopalaiah — received new responsibilities and as many — Shivaram Hebbar, Srimanth Patil and Byrathi Basavaraj — have been saddled with more.

Sources said the six ministers met the CM late Monday night and said they were not happy with the portfolios handed to them. They reportedly threatened not to assume office until their demands were met, forcing the CM to effect the changes early Tuesday.

BC Patil is now vested with agriculture (he had been given forest), Anand Singh forest, environment and ecology (earlier food and civil supplies) and Gopalaiah food and civil supplies (instead of small-scale industries). BC Patil said, “I’m happy I can now be with farmers.” Shivaram Hebbar has been given the additional responsibility of sugar along with labour allocated to him on Monday.

Allocation of the forest portfolio to Anand Singh has raised eyebrows as the Vijayanagara MLA had been arrested in 2013 and 2015 in cases of illegal mining and illegal transportation of mining ore. Singh owned SB Mineral in Ballari and the Lokayukta had charged him with transporting 17,086 tonnes of iron ore without permission or valid licence. He was acquitted in a Belikeri iron ore export case due to lack of evidence.

Byrathi Basvaraj, who has been given the urban development ministry, will also handle Karnataka Urban Water Supply and Drainage Board and Karnataka Urban Infrastructure Development and Finance Corporation.

Srimanth Patil has received minority welfare department apart from textile.

The exercise of portfolio shuffling is likely to continue with minister K Sudhakar reportedly unhappy with medical education.

In another embarrassment to the CM, Mahesh Kumathalli on Tuesday refused to take over as chairman of the Mysore Sales International Ltd, saying he wants to be a minister. BJP MLA Basanagouda Patil Yatnal urged Yediyurappa to induct Kumathalli into the cabinet in line with the promise made to him when he joined the BJP before bypolls. “The CM must keep his word,” he said.

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