Plan and Policy

Plan & Policy

19 coalmines’ auction likely this quarter

After the cancellation of coalmines auction twice, the government is exploring certain relaxations for bidders and plans to put on sale 19 blocks in the current quarter, a top official has said.

The government had last year annulled the fifth round of auction on account of poor response from bidders.

“Yes we are wanting to do the next round of coal block auction. This is probably the right time,” coal secretary Susheel Kumar told PTI. “So in this quarter, it (coal block auction) should happen,” he added.

Robust exports, investment must to achieve 8% growth: ADB

India can achieve over 8 per cent growth rate in a sustained manner if it takes steps to revive investments and make exports competitive, said ADB economist Abhijit Sen Gupta.

Efforts will also have to be made to streamline agriculture marketing and improve supply chain, he said, adding that this is the area where there is scope for more reforms. “Right now, the investment and exports drivers are really not firing. Once those two engines fire up India can sustainably grow at 8 per cent,” Sen Gupta said.

IPL host cities see rise in traction for hotels, flights

Cities hosting IPL matches are witnessing a marked rise in traction this season, mainly on the back of red­u­c­ed airfares, summer vacati­o­ns and the love for cricket, according to experts.

“In India, cricket is like a religion and IPL, with its do­se of action and entertainment, has taken the excitement off to another level. The platform is witnessing a marked rise in traction during this IPL season as you­n­g­er population begins to flock for marking their support for their favourite teams,” Pay­tm V-P Abhishek Rajan said.

NPA maze: Govt for scrapping of one-day default norm

The finance ministry is said to have suggested the Rese­rve Bank of India (RBI) to sc­r­ap the one-day delay nor­ms in its stressed asset resolution framework. Und­er the present norm, failure in loan repayment by even for a day beyond the 90-day period makes the loan an NPA.

Close eye on flagship schemes as govt gets battle ready for 2019

Gearing up for general elections next year, the Modi government will appoint nodal officers in every nook and corner of the country to monitor implementation of its seven flagship welfare schemes.

These officers will coordinate with district magistrate (DMs) and deputy commissioners (DCs) for ensuring total coverage of its schemes to maximise the number of beneficiaries.

Watching AI stake sale process closely: IFC

As the government awaits expression of interest for Air India stake sale, International Finance Corp (IFC) has said it is “watching the process closely and may get involved at a later stage.” IFC, part of the World Bank Group, made it clear that it is currently not involved in the Air India disinvestment process.

Government tweaks production sharing contracts mid-way, oil & gas reform hit

In a severe jolt to ambitious plans of reducing crude oil imports by 10 per cent by 2022 by enhancing indigenous production of petroleum products, the government has decided to change the terms of oil and gas contracts mid-way for higher earnings for itself while delaying cost recovery for oil companies.

A-I recorded 11% revenue growth in FY18: Kharola

Disinvestment-bound Air India clocked 11 per cent growth in revenue in the financial year ending March 2018 on higher passengers traffic across its network.

Pradeep Singh Kharola, airline chairman and managing director, on Thursday said Air India improved performance on key parameters in FY18 and passenger load factor stood at 80 per cent.

..2 others in ICICI Bank loan probe

CBI on Thursday quizzed Umanath Vaikunt Nayak, a director in the NuPower Renewables, which was founded by the husband of ICICI Bank MD & CEO Chanda Kochhar, and Mahesh Cha­n­dra Punglia, considered a close aide of Videocon fou­n­der Venugopal Dhoot, in connection with the bank’s Rs 3,250 crore loan to the group, at the agency headquarters here, officials said.