Prasanta Sahu

Fresh tranche of CPSE ETF may fetch govt Rs 11,000 crore

A record Rs 45,080 crore via two extant ETFs — Rs 26,350 crore from CPSE ETF and Rs 18,730 crore from Bharat-22 ETF — helped the Centre mobilise 53% of the disinvestment receipts in FY19.

Exchange Traded Fund, ETF, economy news, CPSE ETF News

Monetisation: FCI to lease out warehouses

Given the National Food Security Act and the government's plan to double farmers' income by 2022, the costs of procurement and storage of grains could rise further in the coming years.

Monetisation, FCI,FCI warehouse, warehouse lease out, food corporation of india, food corporation, economy news, food grain News

Central PSUs miss capex targets, still contribute big on asset creation

On a year-on-year basis, however, capex by these entities fell 1.1%, in what reflected the drying up of cash reserves with them owing to robust investments made over the last few years on the government’s prodding.

Missed targets, CPSE capex, industry news, capex ,  GAIL, AAI, DMRC, SAIL,  News

PSU divestment: Govt stake below 51% will unchain public sector firms

The government could not privatise a single firm from the list of two dozen PSUs identified by the Niti Aayog in 2016, partly due to fear of legal harassment later.

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PSU disinvestment: Time for big and small strategic sales, says DIPAM secretary Atanu Chakraborty

The government has been following the policy of disinvestment in non-financial public sector undertakings maintaining that the Centre's stake not to go below 51%. The Budget for FY20 proposes to change that policy.

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Budget 2019: Centre’s capex to rise 11.8% to Rs 3.38 lakh crore in FY20

Budget 2019 India: ONGC will continue its robust investment with Rs 32,921 crore in the current financial year (compared with Rs 33,006 crore in FY19)

Budget 2019-20, Union Budget 2019 India News

Budget 2019: Centre aims to scale up disinvestment to record Rs 1.05 crore in 2019-20

Union Budget 2019 India: The government has been following the policy of disinvestment in non-financial public sector undertakings, maintaining that the Centre’s stake not to go below 51%.

Budget 2019, Union Budget 2019 India, Budget 2019 India, Budget 2019-20, News

Family silver: Modi govt chalks out grand plan to monetise assets

With the tax revenue growth tapering, the Centre will tap non-tax sources of revenue with unprecedented vigour over the next few years. According to official

tax revenue, tax revenue growth, Centre, real estate, real estate investment trusts, economy news

Disinvestment: Massive mop-up via ETF planned

A spate of ETF (exchange-traded fund) issues and a couple of PSU-to-PSU deals is likely to be the mainstay of the disinvestment programme in FY20.

ETF, exchange-traded fund, PSU-to-PSU, disinvestment, disinvestment programme, offers for sales News

Budget 2019: Why Centre may scale up expenditure financed out of extra-budgetary resources

Union Budget 2019: The growth of net tax revenue turned out to be 6% against 19% estimated (BE), so, the ask rate of growth to meet the Interim Budget target is now a daunting 29%.

budget 2019, union budget 2019 News

Modi’s plan to tackle job crisis in India

Panel for jobs and skill development set up; states also to step up hiring

Job creation, jobs in india, jobs vacancy, Narendra Modi, Modi 2.0 Cabinet,  BJP, Union Public Service Commission, Staff Selection Commission, skill development,  railway recruitment, railway jobs News

Operation cleanup: Govt looks to remove dead wood in bureaucracy

Rule 56 (j) being used more aggressively, vigilance heads asked to identify non-performers

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Budget 2019: Actual fiscal deficit at 4.1%; glide path barely being adhered to

Centre cut Budget spending by `1.45 lakh crore, but it spent almost same amount out of extra-budgetary resources

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Modi 2.0: Mergers, pruning of ministries on the cards; DPE may go to finance ministry

DPE may go to finance ministry, fertiliser or irrigation may merge into agri ministry.

modi government News

Focus on PSUs: Govt looks to boost market cap of state-run firms

The CPSEs could also sell a portion of their holding in subsidiaries and use the proceeds to give dividend to shareholders and/or buy back shares from the government and other shareholders .

Markets News

PM Modi to give preference to talent over seniority in expected bureaucratic rejig

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.

India News

Tax growth forecast: 15th FC may show caution

The Centre’s actual tax revenue growth has been below what the 14th Finance Commission envisaged.

Tax growth forecast: 15th FC may show caution News

PSU disinvestment: Govt plans rejig of ETF baskets too lure investors

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.

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PSU disinvestment: ETFs mainstay this year too; good returns may lure investors

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.

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PSU disinvestment: Pawan Hans liabilities will be reduced before sale

Following this, in August 2018, the government invited fresh EoIs.

Industry News

Centre to start publicity campaign on public distribution system sops

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.

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Banking on banks: Air India SPV seeks to lower debt burden

The interim Budget for 2019-20 has allocated Rs 2,600 crore to service the debt housed in the SPV.

air india, aviation sector, aviation industry News

On notice: Central PSUs get 12 months to sell non-core assets; failure may lead to budget cuts

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.

CPSEs to get 12 months to sell non-core assets, failure may lead to budget cuts (Representational image) News

Bad news! India Post is now top loss-maker PSU, pips BSNL & Air India

Salaries have kept climbing due to implementation of successive central pay panel awards, which coincided with continuous fall in revenue from traditional postal services.

Industry News

Food Corporation takes fresh NSSF loan of Rs 60,000 crore

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.

Economy News

With tax receipts falling short of target, Govt’s FY19 spending seen at 97.5% of RE

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.

Economy News

PSUs to issue differential voting right shares for much-needed equity capital

Centre feels state-run firms with good dividend record will find tool viable

PSU, DVR shares, equity capital, Tata Motors, Future Enterprises, Gujarat NRE Coke, equity capital News