The 6th All India convention of LIC Agents Organisation of India (LICAOI) will be held at Alluri Vignana Kendram at Dabagardens on May 22 and 23. Announcing this at a media conference on May 8, LICAOI zonal general secretary P.L. Narasimha Rao alleged that the Centre was planning to push the financially robust LIC … Read more
Party demands safeguarding of public and government sectors and filling of vacant posts Party demands safeguarding of public and government sectors and filling of vacant posts : The Communist Party of India (CPI) at its 24th national congress here on Monday adopted a resolution demanding that the Central government withdraw its decision of 100% strategic … Read more
The government could allocate a big chunk of the revised estimate of ₹15,000 crore for bank capitalisation allocation for 2021-22 to banks identified for privatisation, as it is confident of moving ahead on its privatisation plans by the second quarter of 2022-23, people aware of the matter said. The strategy is to strengthen the balance … Read more
Defending privatisation policy, Principal Economic Adviser Sanjeev Sanyal on Saturday said most of the public sector undertakings (PSUs) that the government intends to sell were actually created by the private sector. Stressing that this government is unapologetic about privatisation, he said “you (Opposition) made the point that this (PSUs) has been built through the blood … 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
The Centre may sell its stake in Central Bank of India and Indian Overseas Bank () as part of its mega privatisation initiative unveiled in the Union Budget in February. While the two banks have been recommended for disinvestment by government think tank NITI Aayog, (BoI) may be a potential candidate for sale, sources familiar … Read more
To further improve the visibility on the annual LLF outgo, Concor has entered into a 35-year lease agreement for 24 terminals with the railways. Synopsis Concor currently uses 26 terminals. A dispute had cropped up last year after the railways demanded LLF of Rs 1,300 crore annually, which was around 2.5 times higher than Concor’s … Read more
It took 21 years to state similar objectives on disinvestment. Immense political capital had to be spent by the Atal Bihari Vajpayee government in disinvesting 16 CPSEs before ‘alliance dharma’ got the better of the agenda. Source link
The Niti Aayog has kept public sector banks (PSBs) that were part of the last round of consolidation and State Bank India out of the privatisation plan. These banks are Punjab National Bank, , Canara Bank and Indian Bank, and Bank of Baroda and SBI that were part of an earlier round of consolidation. The … 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