Prasanta Sahu

Articles By Prasanta Sahu

453 Articles

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.

Inflation, monetary policy committee, Reserve Bank of India, C Rangarajan, retail inflation, Shaktikanta Das, GDP growth, National Statistical Office News

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.

nbfc, non banking financial company News

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.

FICCI president, fiscal deficit target, Sangita Reddy, Apollo Hospitals, RBI, GDP, GST for healthcare News

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.

Bharat Bond ETF, CPSE, CPSE debt ETF, Nifty BHARAT Bond Index, Edelweiss, CPSE bonds News

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

Make in India, Oppo, Oppo export hub, Reno2 series, OPPO F11 PRO, OPPO F11 PRO feature, OPPO F3, Oppo India News

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.

Economy News

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.

Economy News

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.

capex, capital expenditure News

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.

Oppo, R&D centre, Bengaluru, Oppophone, Oppo smartphone, industry news

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.

Economy News

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

In June last year, the government called off the proposed sale of 76% stake in AI after no buyer had shown interest. News

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.

Markets News

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.

air india, aviation sector News

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

Industry News

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.

Tax revenue growth of the 17 states reviewed by FE was 2.4% in H1FY20, compared with 13.8% a year ago. (Representational image) News

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.

Market, fluctuation, product, rise, market news, Commodities, industry production 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
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