The government plans to sell its majority stake in the oil marketeer which can help it raise over Rs 70,000 crore
In Budget 2020 speech, the FM should state how she intends to return to the 7% track, and the hard decisions she will take to adjust to the realities of a slowing economy, writes T N Ninan
Macroeconomic parameters have shown that the Indian economy is going through a rough patch. Here are the key policy decisions taken by the govt in 2019, to bring the India growth story back on track
The government plans to complete the two sale deals before March 2020 in order to meet its Rs 1,05,000-crore disinvestment target
The government has set a 50-day timeline for asset valuation to happen in BPCL, as it wants to complete the process before March 31, 2020
For the current year, the target is to raise Rs 1.05 lakh crore
Finance Minister Nirmala Sitharaman also joined in and defended the Centre's economic record in the last six months
Asserting that the consumption and investment engine was stuck, he stressed that an economy growing at 5 per cent was not acceptable in India
Govt officials and industry experts confident that the Centre's stake in BPCL can be sold at a premium of 20-30%
At least 25 unions have already called a nationwide strike protesting against the Centre's move to privatise BPCL
It sounds good but perhaps not as easy to achieve
In part indication of timelines for privatisation of India's second biggest state oil refiner, the government has set a 50-day deadline for an outside 'asset valuer' to carry out the valuation of all assets of Bharat Petroleum Corp Ltd (BPCL), a process once completed will trigger invitation of price bids from potential acquirers. The Cabinet Committee on Economic Affairs (CCEA) had on November 20 given a go-ahead for sale of government's entire stake in BPCL, Shipping Corporation of India Ltd (SCI), power generator THDC India Ltd (THDCIL) and North Eastern Electric Power Corp Ltd (NEEPCO) to a strategic investor along with management control. It had also approved sale of 30.8 per cent out of its 54.8 per cent interest in Container Corp of India Ltd (Concor). The stake sale will follow a two-stage process of first inviting expression of interest (EoI) from potential bidders who will after due diligence will be asked to submit price bids in the second part, officials said. In the ...
NDA government recently approved the selling of the entire stake in BPCL, Shipping Corp. of India Ltd. It also approved selling a controlling 30.8% shareholding in Container Corp. of India Ltd
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A major reason why the government kept NRL outside the strategic sale of BPCL was its importance to the Assam Accord
Strategic sale decision welcome; should have come earlier
The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government's entire stake in the country's second-largest state refiner BPCL and 4 other PSUs
"This is a big scam. The country is being looted. Please allow us to speak," Congress leader in Lok Sabha Adhir Ranjan Chowdhury said
The decision to undertake strategic disinvestment and transfer management control in entities like SCI, Concor, BPCL are welcome, Ficci said in a statement
Bharat Petroleum Corporation (BPCL) hit a new high of Rs 548, up 6 per cent.