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Prasanta Sahu
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CPSE capex grew 16% in FY18, went past target
Even though the Centre’s budgetary capital expenditure declined an annual 7% in FY18, companies owned by it and other public-sector undertakings like NHAI and the Indian Railways have sustained their robust capex pace during the year.
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Centre’s Finances: FY18 fiscal deficit at 3.42% versus RE of 3.5%
The Centre has contained its fiscal deficit for FY18 at 3.42% of gross domestic product (GDP), down from 3.5% estimated (RE) when Budget FY19 was presented on February 1.
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CPSE Privatisation: BHEL, MTNL on NITI’s new list
MTNL has a huge staff strength of 27,919 that needs to be taken care of. The telecom PSU, with operations in Delhi and Mumbai, reported a turnover of Rs 2,870 crore and a loss of Rs 2,941 crore in FY17.
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Iran Fallout: FY19 subsidy bill could go up by 1/3
Additionally, if the rupee remains depreciated against US dollar at the current level, the annual financial impact on domestic LPG and kerosene would be Rs 1,130 crore, for every Rs 1 fall in the value of the rupee.
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Government to examine proposal to merge CPSEs in key sectors
In a recent presentation to Prime Minister Narendra Modi, the CPSEs have proposed creation of public sector behemoths by merging firms.
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Wages and the workforce: Staff down but CPSE salary burden rising
Stagnant revenue, coupled with the limited success in paring redundant staff, has worsened central public sector enterprises’ (CPSEs) salary burden in recent years, official data show.
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Why time is ripe for cutting auto fuel taxes: Niti Aayog V-C Rajiv Kumar explains
“When petroleum product prices are rising so much, I think a fiscal relief is required now. But, it (the cost of tax cut) should be shared between the Centre and states,” Kumar told FE in an interview.
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MTNL is winding up finally; here’s why
Telco in dire straits with losses higher than revenue, but latest trigger is hefty licence renewal fee
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Drain on exchequer: Despite UDAY, state PSUs eat into budget funds
Companies owned by state governments persisted with their relentless draining of the exchequer in FY17, an analysis of some 400 of them — nearly half of the total — by FE showed.
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15th Finance Commission: Now Odisha opposes terms of reference, wants SCS tag
Bihar, Chhattisgarh, Jharkhand, Rajasthan and Uttar Pradesh too had in the past clamoured for the SCS tag. It is another matter the SCS benefit is limited; there could be other ways to address the resource-poor status of states.
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Power out! Narendra Modi government’s UDAY obligations start to bite into states’ finances
The state governments in aggregate were expected to revert to well below 3% fiscal deficit in FY18, but an analysis by FE of 19 state budgets presented recently suggests they may not have.
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Improving performance: PM Narendra Modi to meet CPSE executives on Monday
Prime Minister Narendra Modi will on Monday deliberate with top executives of central public sector enterprises (CPSEs) on the ways to improve performance of these firms.
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Financial Year 2018 review: States not to revert to fiscal deficit below 3 pct
Subdued revenue growth, lack of requisite control on less productive spending upset ambitious consolidation plan.
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Outstrips sales growth: Oil firms boost CPSE profitability in 2015-17
Increased profitability of state-run oil companies — thanks to decontrol of product prices and soft global crude prices that allowed complete pass-through without a major political backlash — had boosted central public sector enterprises’ (CPSEs) net profit in 2015-16 and 2016-17, despite their sales growth decelerating.
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States Compress Capex: April-January spend just half of yearly target
While the Centre has put brakes on capital expenditure in the later months of FY18 to avoid a big fiscal slippage, the states have compressed capex even more aggressively to finance their rising revenue expenditures and curb borrowings.
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Narendra Modi government’s welfare payments: Massive 75 pct to be on DBT platform in FY 19
The Centre will have managed to make direct benefit transfer payments — 80% in cash and the balance under in-kind schemes — of around Rs 1,50,000 crore in 2017-18.
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Challenging target: Tough year ahead for disinvestment
Air India sale, insurer listing, slew of IPOs, offers for sale to top government plan to meet the Rs 80,000-crore target for 2019.
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In-kind fertiliser DBT: Subsidy savings seen at ~30%
Now, the Centre is releasing the subsidy to a company based on sales data after actual sales are recorded through ePoS machines.
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HAL, RITES, IRFC may be listed in FY18 for raising Rs 5,200 cr
Govt is likely to mop up another Rs 1,500 crore via buyback plan of some PSUs
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FY18 deficit: States may cross 3 pct limit
The prospect for FY19 is not bright either as at least six states are implementing farm loan waivers and most are to factor in Pay Commission-induced salary increases for their staff.
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After Centre effects capex cuts, states too slash spending
While the Centre will miss its fiscal deficit target even after cutting capital expenditure in FY18, the states are also compressing capex to finance rising revenue spending and adhere to their deficit targets.
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Odd FCI entry boosts off-Budget public capex in FY18 by 18%
Budget 2018: The Budget allocation to the corporation in 2017-18 was Rs 1.02 lakh crore (RE) and in the next year, it is budgeted to receive Rs 1.38 lakh crore. However, it is a fact that CPSE capex has been, especially over the last couple of years, a pillar of strength for the government in its effort to boost the economy, in the absence of strong private investments.
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Budget 2018: ‘Debt ETFs will help bolster corporate bond market, raise liquidity’
Budget 2018: An investment policy for PSUs adopted by the government two years ago has yielded rich dividends — while the economic conditions required higher public spending, PSUs have invested whopping amounts over the last couple of years and are poised to do so in the next year as well.
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Disinvestment: Government gets close to Rs 1 lakh crore
The Centre’s disinvestment proceeds this fiscal are poised to comfortably exceed Rs 1 lakh crore, more than double the level achieved last year.
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FY18 Public Capex: PSUs, other govt units keep spending pace
Firms with capex budget of `500 cr+ achieve 60% of annual target in nine months; Q4 seen stronger
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Dropping below target! Modi govt’s revenue from telecom to take a hit
The absence of an auction for spectrum and lower collection of licence fee and spectrum usage charge (SUC) from operators in the wake of lower revenue due to competitive pressure from Reliance Jio will see the government’s revenue for FY18 from telecom services fall 33% from the budgeted level to Rs 29,524 crore.
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Merger, stake sale: ONGC-HPCL deal is a step closer
The Core Group of Secretaries on Disinvestment (CGD) headed by the Cabinet secretary has approved the broad contours of Oil and Natural Gas Corporation’s proposed acquisition of the government’s 51.11% stake in Hindustan Petroleum Corporation, paving the way for the transaction later this month, sources said.
