The finance ministry may soon call for a meeting with bankers to discuss recapitalisation.
Plan and Policy
Plan & Policy
Telecom service providers owe approximately Rs 3.08 lakh crore to the government.
They include pending spectrum dues from past auctions, the communications ministry has informed regulator Trai, which is currently in the process of deciding on the next round of spectrum auction as part of its recommendations.
Amid growing worries of Air India staff in the wake of the national carrier's imminent privatisation, the airline chief Rajiv Bansal hopes transition would be smooth with a large number of technical employees being relevant enough for the new entity, which will take over the company.
The National Company Law Tribunal (NCLT) has issued a showcause notice to budget carrier Spicejet in an insolvency petition filed by Ramco Systems. The IT services provider has filed the plea against the carrier for non-payment of operational debt amounting to Rs 4.87 crore. The case has come up at a time when reports about SpiceJet’s chairman Ajay Singh taking over media house NDTV have started doing rounds.
Pressed into thinking out-of-box to reinvigorate the slowdown-hit economy, the government is now looking at its time-tested public sector enterprises to change industrial sentiment with stepped up investments and merger and acquisitions.
The government has approved Air India sell-off. The group of ministers (GoM) headed by finance minister Arun Jaitley is moving fast on deciding the modalities for its disinvestment. Transaction and legal advisors would be soon appointed to take the process forward. In the midst of all this, the airline staff is a worried lot and want clarity on their future. The airline chairman and managing director Rajiv Bansal spoke to Nirbhay Kumar on concerns of employees, financial health of the carrier and network expansion. Excerpts:
Capital-depleting bad assets are the "core area of concern" and government "stands one" with the banking system in difficult times, Finance Minister Arun Jaitley said today, promising expeditious help to strengthen it.
The finance ministry today sought to dispel concerns about Rs 65,000 crore transitional credit claims saying that the Centre's revenue kitty will not go down because of these claims.
Left with little choice and headroom, the government may consider an Rs 50,000 crore stimulus to pump prime the economy.
It may be aimed to provide a boost for the slowdown-hit economy, particularly its worst performing key sectors like exports, infrastructure, manufacturing and MSMEs, where the deceleration has led to a 5.7 per cent growth in the Q1 and threatens to subvert any revival in Q2 as well.
The broad rules on splitting assessees among Centre and state tax officers for administering them could add to further confusion under the goods and services tax (GST) regime that kicked in from July 1. The circular issued by the GST Council secretariat on the principles of dividing taxpayers among authorities leaves certain grey areas while making their distribution unequal.