New Delhi, The government on Thursday invited Expression of Interest (EoI) from bidders by October 15 for strategic sale of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL). The Government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by … Read more
The government has exceeded the revised estimates of collection from disinvestment and dividend combined in the current fiscal at Rs 94,282 crore. The revised estimates (RE) had pegged receipts from disinvestment and dividend at Rs 93,000 crore. In 2022-23, dividend receipts stood at Rs 58,988.34 crore and disinvestment receipts at Rs 35,293.52 crore. Together, the … Read more
New Delhi: The Centre expects to meet or even do better than the budgeted FY23 fiscal deficit target, pegged at 6.4% of GDP, on the back of buoyant revenues, officials said. Several ministries may not be able to utilise their full allocation for the year, providing a cushion to the finance ministry to meet the … Read more
Any public disinvestment programme, by construct, is a public process. While the bidding is confidential, the process is very public. Most activities are known in the public domain either directly or through leaks. Though this may not cause much concern in the case of unlisted PSUs such as Air India, for a listed PSU, there … Read more
Past losses of public sector units undergoing strategic divestment can be carried forward for setting off against future profits, the Central Board of Direct Taxes (CBDT) said Friday. The change in income tax law has been made in a bid to make strategic divestment of PSUs more attractive, said experts, since normally such a set-off … Read more
Finance minister Nirmala Sitharaman on Thursday said the government’s privatisation policy of bare minimum public sector presence will mean that the remaining state-owned companies are scaled up and large with a significant presence in their areas of operation. “In the sense, even if there are one or two or three (PSUs)…it will be a public … Read more
The government has said that central public sector enterprises (CPSEs) should include asset monetisation and market capitalisation improvement in their memoranda of understanding with respective ministries, in order to monetise non-core assets, reduce debt and improve efficiency. “You may have several non-core assets which are not yielding any returns to the company, and that can … Read more
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC’s Conference 2020 … Read more
New Delhi: Anil Agarwal’s Vedanta Group and two overseas funds are said to be among suitors for state-owned Bharat Petroleum Corporation (BPCL), which the government is seeking to privatise. Government sources told TOI that Vedanta is among the “multiple suitors” for the oil marketing company. The names of the two funds were not immediately known. … Read more
(This story originally appeared in on Nov 03, 2020) As a most unusual year comes to an end, finance minister Nirmala Sitharaman is confident that the government’s interventions to revive the economy are working and says reforms will continue with a strong focus on infrastructure. Excerpts from a conversation with Sidhartha, Surojit Gupta and Rajeev … Read more