Privatisation

Pakistan's government has failed to privatize the airline in previous attempts because of protests by labor unions and political parties

In a letter, philanthropist and industrialist Ratan Tata conveyed his admiration for former Prime Minister PV Narasimha Rao's "outstanding achievement" in initiating vital economic reforms in India

Former Delhi chief minister Arvind Kejriwal quipped that one engine of the BJP's double-engine government failed after the Lok Sabha elections, while the other is failing during assembly elections

Union minister Ashwini Vaishnaw on Friday said there is no question of privatising the railways and asserted the national transporter's focus is on providing affordable service to all. The aim is to ensure people can travel up to 1,000 kilometres in comfort in less than Rs 400, the railway minister said here. "In the next five years, the railways will undergo a complete makeover. Trains like Vande Bharat, Namo Bharat, deployment of Kavach train protection mechanism will lead this change. This is the era of transformation of railways," he said while addressing the Railway Protection Force Raising Day event here. "There is no question of privatisation of the railways. I urge those spreading such rumours to remember the railways and defence are two backbones of India and must be spared all kinds of politics. Prime Minister Narendra Modi has ensured the politicisation of the railways has stopped. The focus is on performance, safety, technology and providing affordable service to all," .

Centre struggles to resolve 'documentation issues' with Maharashtra government

Political calculations may have slowed privatisation, but economic policies to improve the public sector's performance brook no delay

The Congress on Saturday attacked the government over attempts to privatise steel plants, alleging the country's industrial base is being "suffocated" and Union Steel Minister H D Kumaraswamy is party to it. Congress general secretary in-charge communications Jairam Ramesh cited a written reply in the Rajya Sabha by Kumaraswamy. "Yesterday in the Rajya Sabha, the Minister for Steel revealed that the Modi Government has attempted and failed to privatise 4 steel plants and is currently attempting to privatise another 2," Ramesh said on X. None of these six privatisations were necessary, he argued. "Perhaps the Government's incompetence in enacting its own decisions, however ill-founded, is a small mercy," he said. However, these PSUs are now in a state of inactivity, and will be for an indeterminate period of time, Ramesh said. "The Government will not invest in them - in fact, there is evidence that the Government is actually systematically trying to further throttle these units t

The government has put the privatisation of Container Corporation of India Ltd (Concor) on the backburner, an official said. In November 2019, the Union Cabinet approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor -- a Navratna PSU under the Railways Ministry. The government currently holds 54.80 per cent of Concor. "The government is unlikely to push Concor's strategic sale. There are some concerns from Railways Ministry as also investors," the official said. The official further said that with the government holding in the company at 54.80 per cent, there is little scope for coming out with an offer for sale (OFS) in Concor. Although the Cabinet approval for the Concor sale was accorded in 2019, no worthwhile progress has so far been made, and even an Expression of Interest (EOI) has not been invited for the strategic sale. Shares of Concor closed at Rs 1,043.25 apiece, up 0.35 per cent over the previous close on the BSE.

IDBI Bank's market capitalisation is around Rs 95,000 crore. The government could secure close to Rs 29,000 crore for the sale of 30.5% of its 45.5% stake

The aim is to raise $24 billion in the current April-March fiscal year and re-invest the funds in the companies

But, in coalition, the focus may go off specific policies such as labour codes and privatisation

India's world record beating economic growth rate together with robust tax revenues, a fast expanding digital and financial infrastructure and a strong manufacturing sector will give the new government a base for unleashing next generation reforms that may make the country a developed nation by 2047. The new government will however have to tackle with problems like unemployment and rural distress, which seemed to have played a major role in voting pattern in states like Uttar Pradesh, while also keeping inflation under control. Given that no party, including BJP, have a clear majority of its own, tough reforms like big ticket privatisation and labour law reforms may take a backseat. As per the available trends, BJP is likely to win about 240 seats in a 543- member Lok Sabha. It would have to rely on its allies like TDP and JDU to form the next government. The new government will have to build upon the 8.2 per cent GDP growth recorded in 2023-24 and carry on with the reforms to make

The Congress on Sunday attacked the BJP over Home Minister Amit Shah's quota remarks in Uttar Pradesh, alleging that the Modi government has used privatization as a "weapon" to weaken reservations for SCs, STs and OBCs in the last 10 years. The opposition party also claimed that the secret behind the BJP's '400 paar' slogan is that they will openly try to end reservation this time. The Congress' attack came after Shah, speaking at a UP rally, said the BJP will neither remove reservations for SCs, STs and OBCs nor will it allow anyone to do so, calling it a "Modi guarantee". Responding to Shah's remarks, Congress general secretary Jairam Ramesh said, "Mr. Home Minister when airports were handed over to the prime minister's best friend in various cities, wasn't reservation finished there? When Air India was sold, wasn't the reservation finished there? When you were going to sell steel plants and oil refineries, wouldn't that have ended reservation there?" "Earlier IPCL, BSNL, Ashoka

Indian democracy has conventionally kept armed forces away from any partisan politics, but the central government has "broken" this well-enshrined convention, Kharge added

The group has become a poster child for the failures of privatisation, after its performance deteriorated in the 2010s when its previous investors took out huge dividends

A cash-strapped Kerala government on Monday increased court fees and excise duty on liquor and pitched for public-private funding in key areas to raise funds for the implementation of various developmental projects in the state budget for the fiscal 2024-25. Despite expectations, the government opted not to enhance social welfare pensions and also provided only a nominal increase of Rs 10 in the minimum support price for rubber -- a major cash crop of the state -- enhancing it to Rs 180 from Rs 170 earlier. Finance Minister K N Balagopal tabled the fourth budget of the second Pinarayi Vijayan government without hiding the financial constraints it is facing, while attacking the Centre for the alleged neglect it shows towards the state. Seeking to raise additional revenue, the budget proposed a hike of Rs 10 per litre in excise duty on Indian-made foreign liquor (IMFL) and an increase of 15 paise per unit in electricity duty for consumers who generate and consume energy for their own

The government on Wednesday said it has decided to scrap the privatisation of SAIL's Salem Steel Plant (SSP) in Tamil Nadu. This is the third unit of public sector major SAIL where the government has decided not to go ahead with the strategic sale. Earlier in 2019, it decided to halt the privatisation of Durgapur-based Alloys Steels Plant (ASP) while in 2022, the sale of Visvesvaraya Iron and Steel Plant (VISP) in Bhadravati, Karnataka, was called off citing a lack of interest from bidders. In 2018, the Cabinet Committee on Economic Affairs (CCEA) approved the strategic sale of these three units of Steel Authority of India Ltd (SAIL). Accordingly, global Expressions of Interest (EoIs) were invited on July 4, 2019, by SAIL for SSP. "Multiple EoIs had been received and bidders were shortlisted. However, due to the lack of interest of shortlisted bidders to proceed further with the transaction, the Government of India, with the approval of Alternative Mechanism (Empowered Group of ...

Private industries will play a very important role not only in enhancing Indian Air Force capabilities but also in increasing the productivity and production ability of defence public sector units, Air Chief Marshal Vivek Ram Chaudhari said on Sunday. Responding to a question during a session at the Synergia Conclave 2023, he said the private industry also needs to ensure that they match up with the production capability to ensure that the rollout of fighters that the Air Force orders takes place on time. He said there is definitely a huge role for the private industry to enhance IAF's capability by helping the lead integrators roll out aircraft. Without doubt, the private industry will play a very important role, not only in enhancing our capability but also in enhancing the productivity or the production capability of the defence PSUs, the IAF chief said. What we have to understand is that though we place the order on the defence PSU for any equipment, they (the private sector) w

Congress leader Priyanka Gandhi Vadra on Wednesday hit out at the Bharatiya Janata Party (BJP), alleging that the ruling party's policy is to hand over the control of government-run companies to industrialists. She also said country's first prime minister Jawaharlal Nehru's idea behind setting up institutions like the Indian Institute of Management (IIM) and the All India Institute of Medical Sciences (AIIMS) was to take the country forward. Addressing a gathering at Bhopal in poll-bound Madhya Pradesh, she said, "The Congress brought IIM and big hospitals like AIIMS, and Jawaharlal Nehru's thought behind it was to set up such institutions which will take the country forward." "But it has become BJP's policy to hand over the government-run companies to industrialists and take out the money from people's kitty," she alleged. Targeting the BJP-led Centre over the condition of Bharat Heavy Electricals Limited (BHEL), Gandhi claimed that government-run companies have been given to ...

A panel may also decide the quantum of shareholding that the government would dilute in banks while deciding the weightage to be given to banks