Prasanta Sahu

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.

stock market investment, equity investment, how to become rich, stock market, equity mutual funds, mutual funds, SIP News

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.

disinvestment target, disinvestment in india, disinvestment policy, disinvestment policy in india, disinvestment in psu, arun jaitley News

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.

public distribution system, NFSA, ePoS, public distribution system sops , Narendra Modi  News

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

Rs 50,000 crore tax shortfall upsets budget maths

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.

tax collection in india, tax collection shortfall, tax revenue shortfall, budget 2019 News

DBT transfers increase 47 per cent, but little growth in saving

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.

DBT transfers increase 47 per cent, but little growth in saving News

Fertiliser subsidy: Most farmers don’t know they receive benefit: Survey

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

Most farmers don't know they receive fertiliser subsidy: Survey News

CPSE ETF public offer likely on 19 March; govt looks to raise Rs 3,500 crore in stake sale

The CPSE ETF will likely open for subscription on March 19 and will close on March 22, an official said.

exchange trading fund, etf News

Why PSU stocks plummet after share buyback — Explained

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).

Markets News

PFC on REC buy: Can’t shell out more than Rs 12,000 crore

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.

Markets News

Over 20,000 crore shortfall seen in fuel subsidy outlay for FY20

Brent crude oil prices started rising from April this year and reached a peak of $86 a barrel in October.

Commodities News

Northeast gas grid project likely to get Rs 5k crore from Centre

Given the cost of the pipeline project at around Rs 9,300 crore, the viability gap funding will be more than 50%.

Industry News

REC takeover: PFC to draw Rs 10K crore from own reserves; lending to power projects to be hit

Drops an earlier move to fund the acquisition via borrowings alone; plan to hit lending to power projects.

Economy News

Number games: Niti Aayog to seek formal role for improving quality of government data

NITI Aayog will seek a formal role to improve quality says NITI Aayog vice-chairman Rajiv Kumar

Economy News

Direct tax growth in 2019-20 could even beat estimate, says Finance Secretary Ajay Narayan Jha

With GST forms made simpler, we are expecting better compliance and enforcement next year.

scheme for farmers,PM-Kisan, finance secretary, Ajay Narayan Jha, Direct tax growth News

Loaned glory: Sharp rise in extra budgetary borrowings by PSUs raise the spectre of a debt trap

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.

Economy News

Air India sale to restart after May, says DIPAM secretary Atanu Chakraborty

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.

Industry News

Strong CPSEs a milch cow, others drain on the public purse

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.

Industry News

Budget 2019: From Mudra to Ujjwala, welfare schemes galore under Modi govt

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.

An analysis shows that these schemes helped further the goals of financial inclusion, targetted delivery of government services and streamlining of existing schemes for better outcomes. (Illustration: Shyam Kumar Prasad) News
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