Inflation spike temporary, may not warrant a rate hike, says former RBI governor C Rangarajan
Retail (CPI) inflation climbed to 7.35% in December, its highest level since August 2014, much before the enactment of the inflation targeting framework in June 2016.
Govt mulls US-like equity support for ‘top 20’ NBFCs
The TARP was an initiative by the US Treasury to stabilise the financial system during the global financial crisis by buying mortgage-backed securities and investing in common shares of troubled companies.
Centre should infuse Rs 1.5-2 lakh crore into the economy: FICCI president Sangita Reddy
Reddy, who is also the joint managing director of Apollo Hospitals, has batted for a higher Budget allocation, at least 2.5% of GDP, to the healthcare sector.
Bharat Bond ETF: Fresh tranche of Rs 3,000-crore likely in March
The debt ETF, a move by the Centre to help the CPSEs mobilise a part of their annual borrowings in a cost-efficient manner, could have annual issuance calendars from FY21 onward, sources told FE.
Boost for Make in India: Oppo to make India its export hub, investing Rs 2,200 crore in manufacturing
The handset maker plans to double its production capacity in India to 100 million units by end-2020
Govt plans this step to aid liquidity-starved NBFCs
Sources said the SPV to be created out of SUUTI assets would inject up to 20% of the book value of any identified NBFC via preferential equity.
Target to be missed? BPCL, ConCor strategic sale running behind schedule
The government completed its 52% stake sale in REC to Power Finance Corporation for Rs 15,000 crore in FY19 while its 51.1% stake sale in HPCL to ONGC for Rs 36,915 crore had taken about six months in FY18.
Fiscal stress: States slash capex on weak tax revenues
Tax revenues of 17 states reviewed by FE were a flattish 0.4% in first seven months of 2019-20.
Oppo considers setting up R&D centre in Bengaluru
Oppo, which has taken a lead in launching 5G smart phones in China, will have to wait till commercialisation of 5G services to launch phones in this category in India.
Disinvestment: Govt plans offer for sales route in six CPSEs, including Coal India
This year, the Centre has so far mobilised Rs 17,364 crore (or 17% of the annual disinvestment revenue target), 83% of which are via ETFs.
Sufficient interest for Air India, says DIPAM secretary
Probable reasons as analysed by transaction adviser EY for non-receipt of bids last year included the government’s decision to retain 24% stake and corresponding rights, high amount of allocated debt and profitability track
Debt ETFs soon, may attract retail investors
Currently, 99% of the quasi-sovereign CPSE bonds are privately placed with a limited pool of institutional investors, denying investment opportunities to retail buyers.
Air India’s 11,000 staff to get 1-year job guarantee
In any privatisation, employee issues of PSUs are of concern to buyers due to high employee costs and low productivity, typical of a government sector firm.
Below 51% stake policy: Firms losing government-company tag not to skirt PSU obligations
Among the most prominent PSUs where the government’s direct stake is only marginally above 51% at this stage and where it could reduce it to boost its non-debt capital receipts are Indian Oil, GAIL (India), Nalco and Engine
Trend reversal! States’ capex bears the brunt of falling tax revenue growth
Evidently, the states’ tax revenue from GST, which is roughly 60% of their own tax revenue, has taken a hit, but the compensation guaranteed for GST shortfall could offset this.
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.
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).
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%.
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%.
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.
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.
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
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.
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.
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.
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
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.
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