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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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Agencies
June 10,2020

Bengaluru, Jun 10: The Karnataka Anti-Corruption Bureau on Wednesday conducted raids at 14 places linked to four government officials in the state.

On receiving received credible information about the officials amassing disproportionate assets, an illegal assets case was registered and raids are being conducted at 14 places linked to them, ACB said in a release.

It said the raids are still on and investigation is being carried out about their assets.

Raids are being conducted on properties linked to L Sathish Kumar, Additional Commissioner, Department of Commercial Tax; N Ramakrishna, Divisional Forest Officer, Srinivasapura, Kolar; Gopalshetty Mallikarjuna, Executive Engineer, District Development Cell, Raichur; Raghappa Lalappa Lamani, Krishna Bhagya Jala Nigam Ltd official in Almatti, Bagalkote, the release said.

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News Network
February 11,2020

Bengaluru, Feb 11: Onion price dropped to Rs 25-30 per kg on Monday, down from the dizzying Rs 200/kg in December and January. The price had spiked because of excess rain, which ruined the crop in several parts of the country.

With supply stabilising, especially from Maharashtra and northern Karnataka, and exports banned, the rate is now easing, officials said.

Consumers may be smiling but farmers are worried as they are not able to make more than Rs 17/kg as against the expected Rs 40.

"We get onions from Nasik and Sholapur in Maharashtra. Nasik onions used to be exported but since that is currently banned, they are landing in Bengaluru, leaving the market here with a surplus," said K Lokesh, president, Karnataka State Onion Merchants Association.

A farmer from Sholapur wh o was part of a onion growers' delegation which met traders in Bengaluru, said, "The cost of everything has gone up. Labour charges and fuel prices are draining us. How can we survive? How can I pay for my children's education?"

Another Sholapur farmer rued: "My daughter's wedding is in March. How am I going to meet all the expenses? I have to pay for labour, transportation, gunny bags and when everything adds up, I don't get to save more than Rs 30,000 in a month."

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News Network
January 29,2020

Jan 29: Karnataka Tourism Minister, CT Ravi came up in support of BJP leader Anurag Thakur, and made a controversial statement in the process.

Ravi recently took to Twitter to express his views on Thakur facing probe for allegedly making provocative statements. In his tweet, Ravi said that "anti-nationals should get bullet not biryani".

"Those attacking Union MoS @ianuragthakur for his statement against traitors are the ones who - opposed death to terrorirts Ajmal Kasab and Yakub Memon, supported tukde tukde gang, spread lies against CAA. Anti-nationals should get bullet not biryani," Ravi tweeted.

Earlier, Thakur had allegedly made slogans like "Desh ke gaddaro ko, goli maaro saalo ko (shoot the traitors)" multiple times during a public meeting in Delhi. He had also faced a show-cause notice from the Electon Commission, asking a response from him on January 30.

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