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
July 17,2020

Bengaluru, Jul 17: The Doctors at Fortis Hospital, here on Friday, successfully treated a 97-year-old patient who suffered an embolic stroke due to calcified stenosis (narrowing of an artery resulting in restriction of blood flow).

In a release, the Hospital authorities stated that the team of doctors led by Dr Rajpal Singh, Director and Interventional Cardiologist, Fortis Hospital, Bangalore successfully conducted Carotid Artery Stenting (CAS) to increase the blood flow in the blocked areas which had resulted in stroke following stringent safety protocols and ensuring proper segregation of COVID and Non-COVID patients at the hospital.

Carotid arteries serve as the main channels which supply the blood flow to the brain and facial structures. Any significant narrowing in these arteries can cause a brain stroke, a mini-stroke, headache, and neurological symptoms.

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News Network
March 23,2020

Mangaluru, Mar 23: The magisterial enquiry into the police firing during the anti-CAA protest on December 19 in Mangaluru, has been postponed following the lockdown of Dakshina Kannada district, Udupi DC G Jagadeesh announced on Monday.

The inquiry by Udupi DC G Jagadeesh was scheduled on Monday. Already, City Police Commissioner Dr P S Harsha and others have deposed before the magistrate. The Deputy Commissioner and the Assistant Commissioner were supposed to appear before the magistrate.

Following the December 19 violence and the death of  Nausheen and Jaleel due to alleged police firing, the state government had commissioned two probes-- one magisterial and the other, a CID inquiry.

 As per the government order, a report on the inquiry was to be submitted before March 23. On the request by the magistrate for more time since the documents and videos had to be examined, the government had asked him to submit the report by April 23.  
 

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News Network
February 27,2020

Bengaluru, Feb 27: The Centre has adopted Prime Minister Narendra Modi's mantra of "Make in India', for India and the world" to build strong defence and security infrastructure in the country, said Defence Minister Rajnath Singh after inaugurating the new Light Combat Helicopter Production Hangar at Helicopter Division in Hindustan Aeronautics Limited (HAL) Complex here on Thursday.

According to an official statement, the Defence Minister said in the last five years, India has made significant progress towards manufacturing military equipment indigenously under the 'Make in India' initiative.

Stressing that the defence industry plays a major role in the economic development of the country, Singh lauded the significant contribution of organisations like HAL.

Highlighting the Rs 35,000 crore exports target set for the coming years, he expressed confidence that HAL, through its various platforms, will contribute significantly to achieve this milestone.

According to the statement, Rajnath Singh commended HAL for being the backbone of the Indian Air Force and meeting the requirements of the Armed Forces.

"The HAL has excelled both in operations and finance in the last five years. It has achieved operational clearance on seven platforms, including Light Combat Aircraft and Light Combat Helicopter, and overhauled platforms like Hawk and SU 30 MKI," he said.

He also appreciated that HAL had a turnover of Rs 19,705 crore till March 2019 and it gave shareholders a healthy dividend of 198 per cent.

HAL also apprised the Defence Minister on the progress of the new design and development programme of indigenous Indian Multi-Role Helicopter (IMRH), the statement informed.

The full-scale mock-up was showcased to Rajnath Singh. The IMRH is proposed as a replacement to the existing medium-lift helicopters such as Mi17's, Kamovs and Seakings which will phase out in the next eight to ten years.

LCH is a 5.5-tonne class combat helicopter designed and developed by HAL. It is powered by two Shakti engines and inherits many technical features of the Advanced Light Helicopter. LCH has the distinction of being the first attack helicopter to land in Forward Bases at Siachen, 4,700 mts above sea level with 500kg load.

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