|
: PICK OF THE WEEK
* Economy
The government's disinvestment policy announced on Thursday shies away from strategic sale of public sector units, but is the largest-ever plan to unlock the value of companies for investors, especially retail. It also holds the promise of improving PSUs' governance standards while raising resources to contain the Centre's huge fiscal deficit. The stake sale proceeds, which could touch Rs 25,000 crore annually, will be used to fund the capital expenditure of social sector projects, though economists believe it is often difficult to distinguish government revenue spends from capex spends.
* Politics
While the impasse on government formation in Maharashtra has drawn attention, the stalemate in Haryana has been all but ignored. More than a week after Bhupinder Singh Hooda was sworn in as chief minister, ministry formation in the state has been on hold.
* Markets
The recent rally in the stock markets has made the government richer by Rs 5 lakh crore (84.6%) on its holdings in 49 listed public sector undertakings (excluding banks and finance companies), all in a space of one year. This has happened on the back of growing market confidence in PSU stocks and the prospects of a global financial recovery.
* International
CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans. The bankruptcy, one of the largest in US corporate history, has been widely expected for months and is unlikely to provide a massive near-term shock to the financial system.
More from Front Page
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
