Friday, February 12, 2016

FM may trim disinvestment target: Media reports

FM Jaitley
FINANCE Minister Arun Jaitley is likely to pare disinvestment target of Rs 50,000-55,000 crore in the Union Budget for 2016-17, much lower than the current financial year's target of Rs 69,500 crore.
Nevertheless, at least half of that amount - Rs 25,000-30,000 crore - could be the target for sale of the Centre's stake in loss-making state-owned companies, say a media report.
The NDA Government is likely to provide a big...

Thursday, February 11, 2016

Air India announces hiring freeze for casual workers; to cut excess staff

KNOWN as a turnaround man, Air India Air India chairman and managing director Ashwani Lohani is bang on target as in a bid to cut over Rs 50,000 crore debt in the national carrier, Lohani has ordered freeze on hiring of casual labour, and shifting some of them who work as ground handlers and in engineering department to subsidiary companies.
This is the latest in the...

Wednesday, February 10, 2016

What PSUs can expect from Union budget

AS FINANCE Minister Arun Jaitley is giving his final touches to Annual Union Budget, the public sector has tremendous hope pinned on the minister’s annual financial statement. One of the prime drivers of Indian economy, public sector contributes considerably for the overall growth of the economy. With the economy growing over seven percent annually, it is incumbent on the government to spell out some concrete measures...

Tuesday, February 9, 2016

Crossing frontier: BSNL seeks partnerships with private sector

IN A bid to generate revenue and return to profitability in a couple of years, state-run BSNL is seeking partnerships with private sector players. BSNL has outlined up a strategy to use its underused network and forge agreements with private telecom players. This will also mean minimal capital expenditure, says a senior BSNL executive. An official of the department...

Monday, February 8, 2016

Modi dedicates to nation IOC's Paradip Refinery

GIVING a further boost to Indian Oil Corporation’s refining capacity, Prime Minister Narendra Modi on February 7 dedicated to the nation the Maharatna PSU’s Rs. 34,555 crore refinery in Paradip. With this, the state-owned PSU has overtaken Reliance Industries to again become country's top refinery.
The 15 million tons per annum Paradip refinery was built over nearly 16 years. The then Prime Minister Atal Bihari Vajpayee had on May 24, 2000 laid foundation...

Saturday, February 6, 2016

7th Pay Commission: Ministries may make fresh salary hike demand

MINISTERS and departments can raise afresh the demand for pay revision if they find that some of the justified suggestions made by the staff associations were not accepted by the 7th Central Pay Commission, says a media report.
Such demands could be submitted to the Implementation Cell (IC), created in the Finance Ministry, to work as Secretariat for the Empowered Committee of Secretaries headed by Cabinet Secretary P K Sinha.
The CoS will screen the recommendations...

Friday, February 5, 2016

Smart move: SBI, Thomas Cook tie up for Holiday Savings Account for online customers

INDIA'S largest banker State Bank of India (SBI) has entered into a partnership with Thomas Cook to offer holiday savings accounts facility to SBI’s 25 million online customers. This is a 12-month recurring deposit (RD) with SBI and the account will allow the bank's customer to save...

Thursday, February 4, 2016

NTPC is hiring Executive Trainees; apply before Feb 29

NTPC is India's largest power company with an installed capacity of 45,548 MW and is currently contributing around one fourth of the country's entire power generation and plans to become a 1,28,000 MW power company by 2032. To fuel its ambitious...