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 12,2020

Hassan, Mar 13: In what could have been a major tragedy, an under construction flyover across Hassan-Mangaluru railway level crossing, near the new KSRTC Bus stand here collapsed today.

Fortunately no casualties occurred despite six concrete beems of 50 feet height, collapsed and broke into pieces.

The much awaited project was completely neglected by the successive governments for over a decade due to politics.  It was sanctioned eight months ago.

The Rs 42 crore project was taken up by a joint venture between state, center and South Eastern railway. The contractor or the Engineer were not present when the incident occurred.

Blaming the contractor, the locals alleged that poor quality of work led to the incident. No contractor or engineer was present even during construction, they added. Siddaiah, who runs an eatery near KSRTC bus stand said that it could have been a major tragedy if people were underneath the flyover when it crashed. The incident should be probe and the contractor should be punished, he added.

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News Network
July 25,2020

Bengaluru, Jul 25: The Karnataka government on Saturday announced a waiver of crematorium fees for those who succumb to the COVID-19 infection in Bengaluru and said the city civic body would bear the cost.

It said that from now on, families of the COVID deceased need not pay any fees fixed by the city civic body- Bruhat Bengaluru Mahanagara Palike (BBMP)- across 12 electric crematoriums in the city.

"There were reports in the media about difficulties faced in performing the last rites of those who died due to COVID-19 infections. Aimed at resolving those difficulties, certain decisions have been taken," Revenue Minister R Ashoka said.

He told reporters here that BBMP had fixed Rs 250 as the cremation fee, Rs 100 for the ash collection pot and Rs 900 for the bier (bamboo stretcher on which the body is carried), all of which have been waived for COVID deaths.

"So it will be a waiver of Rs 1,250 per cremation. The BBMP will bear this cost," he added.

Ashoka also announced Rs 500 per body incentive for the personnel who conduct the last rites of COVID victims.

"This is in recognition of their services at a time when family members of the deceased are not ready to touch the body and not ready to take the body in some cases," he said.

Noting that the government has identified 23 acres of land at five places around Bengaluru for burial or cremation of COVID victims, Ashoka locals in all these areas are protesting against it.

Appealing to the people for cooperation during these difficult times, he said the government's intention was to ensure respectful burial or cremation for the deceased.

"Obstructing it is not right, it is not Indian tradition," he said.

Pointing out that it takes almost a day's time for a COVID victim's body to be handed over for burial or cremation, he said "scientifically, according to experts and doctors, the virus will not remain alive for more than three hours.

...Also, bodies are either burnt or buried eight feet below. So there will not be any problem for those living in nearby areas and it will not spread infection. Cooperate with humanity," he said.

"These lands identified are for all religions and communities and once the pandemic subsides, can be used for other deaths as well," he said.

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News Network
July 31,2020

Bengaluru, July 31: Denying irregularities in covid-19 equipment purchase by the Karnataka government, the state unit of the BJP has issued legal notices to Congress leaders Siddaramaiah and D K Shivakumar demanding that they apologize or face a defamation suit. 

The notices seek a public apology for the allegations levelled against the government on irregularities in the procurement of Covid-19 equipment and supplies. 

Both Siddaramaiah and Shivakumar, the Karnataka Congress president, have been doggedly pursuing allegations of corruption against the BJP government and have demanded a judicial inquiry. 

BJP general secretary N Ravi Kumar said that while the Congress leaders claimed that Rs 4,157 crore was spent during Covid-19, they also allege that the government has not responded to any of the 20 letters written by them. "If the government has not provided any answer to the Opposition, where did they get the figures from," he said.

None of the allegations of corruption is specific and the statements made are factually incorrect. "These statements, without any basis, have been issued calculatedly to lower the image and damage the reputation of the government, the Bharatiya Janata Party, representatives of the party and the ministers in the government," the notice issued on behalf of Ravi Kumar read.

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