The new government might also choose to empanel two batches of Indian Administrative Service in one go to create a larger pool of officials to choose from for appointment to key positions.
In February, Bharat 22 ETF had to buy three stocks, including REC from the market, to maintain their weight in the index as the government had no more headroom to divest in these companies.
For long-term investors too, the ETFs run by the Centre haven't been disappointing. The CPSE ETF has given annualised return of about 7% since its inception five years ago and 10.6% in the past three years.
An inter-ministerial panel has recently decided that publicity measures would be undertaken to educate people about the central government’s share in subsidies disbursed through PDS and other agencies.
A downgrade would bring down MoU rating from ‘excellent’ to ‘very good’ and ‘very good’ to ‘good’, resulting in reduction from 100% eligibility of performance-linked pay to 80% and 60%, respectively.
Salaries have kept climbing due to implementation of successive central pay panel awards, which coincided with continuous fall in revenue from traditional postal services.
The budgeted food subsidy through FCI for 2018-19 was Rs 1.4 lakh crore (of the total food subsidy of Rs 1.7 lakh crore), of which, the Centre has paid about Rs 80,000 crore from the Budget.
Under the scheme, a sum of `6,000 per year would be disbursed in three equal instalments to small and marginal farmers having a cultivable land of 5 acre or less.
As GST revenue collections consistently missed the estimates by a wide margin, the government in the interim budget brought down FY19 estimate for central GST by Rs 1 lakh crore.
Transfers of assorted subsidies and sops to the beneficiaries through the direct benefit transfer (DBT) route stood at Rs 2.8 lakh crore so far in FY19, 47% higher than such transfers during the whole of the previous year.
The Centre spends some Rs 70,000 crore annually to heavily subsidise fertiliser for farmers, but two-third of the beneficiaries have no idea that they receive the largesse, a survey has found. About 90% of them, however, know
An FE analysis of 10 of these firms which have undertaken the share buyback exercise once or more show their stocks losing value by as much as 17-54% (a few others too, undertook buybacks but the stocks split thereafter).
Sources added that despite spending such a large sum, PFC won’t get the tag of the promoter of REC and the government would continue to hold the status to soothe its overseas bondholders.
Centre has scaled up the funding of these non-revenue-generating schemes through extra-budgetary resources (EBRs), all off-budget borrowings raised by its surrogates.
Air India disinvestment process will happen after its financial accounts of 2018-19 are finalised (around May) for buyers to understand better the asset-liability of the company.
The Modi government has made Central PSEs a major source of non-tax revenue and also used them as vehicles of public investments in an unprecedented manner. It also prodded some CPSEs to borrow to fund budget programmes.
Soon after coming to power in May 2014, Modi announced Pradhan Mantri Mudra Yojana (PMMY) to provide finance to non-corporate and non-farm small businesses.
