Prasanta Sahu

Articles By Prasanta Sahu

438 Articles

Closing down sick PSUs: Only these 2 tiny firms shut down in 3 years, out of 20 identified

Some of the companies identified for strategic disinvestment by NITI Aayog might also be shut down as buyers have not showed interest. These include Engineering Project (India), Hindustan Prefab and Hindustan Fluorocarbon.

sick PSU, PSU disinvestment, CREDA, CPSE, NDA, HPCL, economy news, nda, Indian Oil, narendra modi, economy news

PSUs may be barred from bidding for BPCL stake

State-owned entities may be barred from bidding for the Centre’s stake in oil-refiner-marketer Bharat Petroleum Corporation (BPCL).

Industry News

5 states corner close to 70% of Mudra loans: Labour survey

Out of the 1.12 crore additional jobs that were created after availing loans under the Pradhan Mantri Mudra Yojana following the rollout of the scheme in April 2015, these states accounted for 55%.

Pradhan Mantri Mudra Yojana Survey, Labour Bureau, Karnataka, Mudra loans, Mudra loans jobs  News

Niti Aayog aims to link policies, spending to long-term goals

The government think-tank came out with a three-year action agenda covering the period from FY18 to FY20 and a five year action strategy (FY19-FY23) to steer economic growth to an average 8%.

niti aayog, pmo News

Balancing act: Windfall to aid budget despite big tax deficit

Net tax revenue may be 15% less than budgeted, but Rs1.6-lakh-cr extra inflows from RBI and telcos to help.

rbi, economy News

Govt owed Rs 5L crore to industry at FY19-end: Niti Aayog estimate

About Rs 49,000 crore claims filed by the industry against the 32 CPSEs are under various stages of arbitration while the CPSEs have also filed counter arbitration for about Rs 43,000 crore.

The Niti Aayog estimate, however, includes the dues to FCI as well. News

Gaining momentum: ULB bonds get traction, 29 cities to hit market in 2 years

The sources added that the hosuing and urban affairs ministry wrote to ULBs last week, asking them to seize the opportunity to introduce the much-needed governance reforms in municipalities by tapping the market

India’s municipal bonds market has been shallow, with a total of 42 issuances to amounting to about Rs 3,200 crore to date. News

Piling up: Air India debt rises Rs 5,000 crore in H1

The AI’s debt and liabilities were inclusive of long-term and short-term loans and other dues such as to state-run oil companies.

Industry News

BPCL disinvestment to be cleared in 2 weeks; Cabinet puts stake sale in 5 PSUs on fast track

The threshold of minimum government holding for PSUs to be in ETF baskets is 52%. Bharat-22 ETF is a diversified index of 22 stocks, largely comprising PSU stocks.

PSU banks, PSU banks profit, PSU banks profit 2019, PSU banks treasury gain, psu disinvestment, psu crisis News

Air India privatisation: Govt to make national airline debt-free before sale

As on March 31, 2019, AI’s debt and other liabilities had stood close to `70,000 crore.

air india flight News

Niti Aayog wants govt to buy 60,000 buses under a larger JNNURM

While private consumption and gross fixed capital formation (investment) have seen sharp declines in recent quarters, government consumption spending, though a relatively smaller constituent of the GDP, largely remained stead

Economy News

Air India divestment: SPA to be shared with bidders at EoI stage

The fresh EoI, being prepared under the supervision of a home minister Amit Shah-led ministerial panel, would be out later this month.

Air India divestment, SPA, EoI stage, Amit Shah, Air India Express, Air India Air Transport Services News

PSU disinvestment: Legal hurdles cleared for Bharat Petroleum sale

According to sources, Sitharaman was part of the internal meetings during the last weekend that helped the panel of secretaries to approve the proposals on Monday.

Economy News

PSU disinvestment: Govt may cut stake in Indian Oil, NTPC, GAIL to below 51%

Two stocks in the index need to be removed for other reasons. The Centre's holding in L&T (16.72% weight) via SUUTI has been exhausted in FY19, hence it has to be dropped.

Economy News

Rationalisation: Urea subsidy to be capped, its release more targeted

Currently, the government releases subsidy amount to firms periodically based on Aadhaar-authenticated sales through point of sale (PoS) machines, which were rolled out in April 1, 2018 as the first phase of DBT.

Urea subsidy in the period, however, increased from Rs 24,337 crore to Rs 53,629 crore. News

PSU disinvestment: Govt to offload 12.5% in Mazagon Dock Shipbuilders through IPO

The IPO is part of the disinvestment programme to garner a whopping Rs 1.05 lakh crore in FY20, up from Rs 85,000 crore in FY19 and Rs 1 lakh crore in FY18.

Mazagon Dock Shipbuilders, IPO, Mazagon Dock Shipbuilders IPO, disinvestment, disinvestment receipts News

PSU Disinvestment: IOC, NTPC, BPCL, GAIL may go into private hands this fiscal

Stake sales in the Maharatna firms — namely IOC, NTPC, BPCL and GAIL — could happen either through the OFS or ETF route; strategic sale of at least one of them is also on the radar. In all these CPSEs, the Centre’s stak

PSU Disinvestment, IOC, NTPC, BPCL, GAIL, central public sector undertakings News

Booster shot for real estate sector; National Housing Bank to pick up stakes in HFCs

To help revive the ailing real-estate sector and give a further push to affordable housing where the government is placing a lot of thrust on, finance minister Nirmala Sitharaman will soon announce a clutch of steps.

Pacts between lenders and developers not to deter discounts to homebuyers News

Sweetening the deal: Farmers may get Rs 6,000 per acre to shun sugarcane farming

Given the ever-rising fiscal burden and depletion of water tables owing to farmers in areas with low irrigation coverage choosing to cultivate water-guzzling crops, a government panel is considering recommending special incen

Economy News

S&P flags India’s weak public finances, low per capita income

Rating agency’s representatives meet RBI, Niti Aayog and finmin officials to gather feedback from policymakers

consumer confidence, survey on consumer confidence, ipsos, pessimism on jobs, falling finances News

PSU disinvestment: Modi govt shelves plan for OIC, NIC, UIIC

“A road map has to be prepared to first to bring their solvency ratio to the required level before merging the three. After the merger, if the solvency ratio meets the norm, disinvestment of merged entity will be considered

Disinvestment, Oriental Insurance Company, National Insurance Company, solvency ratio, New India Assurance Company , DIPAM News

Modi govt to fast-track spending in Q2 after RBI windfall

If revenue receipts fare poorly, the Centre could roll over some payments such as subsidies to the subsequent years or resort to additional extra budgetary resources through PSUs to keep fiscal deficit at the BE level.

Economy News

15th Finance Commission may scrap revenue-deficit grants to states

“Revenue deficit will unlikely be a permanent feature. (Remedy for it) will be subsumed in the vertical and horizontal devolution pattern itself,” an official told FE.

Bank Fixed Deposits, savings account, current account, fixed deposit, SBI, PMC BANK, Deposit Insurance and Credit Guarantee Corporation (DICGC), deposit insurance, News

Fiscal deficit: States cut capital expenditure to meet FY19 targets

In contrast, the Centre’s fiscal deficit stood at 3.5% in FY18 and 3.4% in FY19, mainly bec-ause it had to step up spending to boost growth in the absence of private investors.

Last fiscal, it deferred its goal of achieving the 3% deficit yet again, this time by two years to FY21. (Representational Image) News

Population control: Finance Commission may not reward states for poor show

Such a move would placate southern states such as Kerala and Tamil Nadu as well as a few other such as Odisha, whose population growth is less than the replacement population growth rate of 2.1/per woman.

15th Finance Commission, divisible tax pool, centre state tax pool News

Number crunching: Actual fiscal deficit in FY19 was 6.1 per cent

Budget 2019 India: So, as many experts have pointed out, there is actually upward spiral in the general government deficit, while the official line is that the prescribed glide path is being adhered to.

fiscal deficit, fiscal deficit in FY19, GDP, CAG, NHAI, SC Garg, oil PSUs, fiscal targets, economy news

Atanu Chakraborty’s experience with global investors to come in handy

Indeed his stunning success at DIPAM — the government surpassed the divestment target of Rs 80,000 crore in 2018-19 by a handsome Rs 5,000 crore — is proof of his capability to deliver quietly and efficiently.

Atanu Chakraborty, CEA, global investors, DIPAM, Narendra Modi, Shaktikanta Das, Gujarat PSU News