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Wednesday, July 22, 2009

SUNIL MITRA Enters to Lead DISINVESTM...

SUNIL MITRA Enters to Lead DISINVESTMENT Drive

 


Troubled Galaxy Destroyed Dreams,Chapter 293

 

Palash Biswas

  1. The Hindu Business Line : PSU disinvestment: Endemic problems

    29 Nov 2002 ... Opinion - Disinvestment PSU disinvestment: Endemic problems ... Moreover, merchant bankers feel that the retail capital market in India ...
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    28 May 2009 ... India has borne economic crisis well: PM Fuel prices may go up: Deora ... PM hints at PSU disinvestment in Budget by meher on 29 May 2009 ...
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  8. Road map for PSU disinvestment in 3-4 weeks: Finance Sec

    15 Jul 2009 ... Road map for PSU disinvestment in 3-4 weeks: Finance Sec.
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  9. Indian Public sector disinvestment | Suite101.com

    The Government of India is selling its holdings in the companies ... It advises the government on the need for PSU disinvestment in the local market as ...
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clear and aggressive disinvestment policy, has a lot of cushion ...












Merchant bankers expect only two PSU public issues


Moneycontrol.com - ‎Jul 15, 2009‎

NHPC and Oil India will raise close to Rs 3000 crore through their issues. The Finance Minister even issued a list of companies proposed for disinvestment. ...






BSNL workers to oppose disinvestment


Business Standard - ‎Jul 20, 2009‎

The call to protest comes a day before Telecom Minister A Raja's announcement to hold a review meeting of the PSU in view of the drastic fall in its net ...






Comment: Keep It Private


Times of India - ‎Jul 15, 2009‎

He has said the moratorium on disinvestment will be lifted, with government stakes offloaded in select PSUs. Mukherjee has also given a welcome signal that ...






Disinvestment: Present comfort at cost of future gains?


Economic Times - ‎Jul 19, 2009‎

The disinvestment debate has got additional lift from the fact that the Government of India is running a huge fiscal deficit right now. ...












Borrowing to meet spend will go on, says govt


Deccan Herald - ‎Jul 15, 2009‎

“We will have a clear road map for PSU disinvestment in three to four weeks time. The road map will indicate the list of PSUs to be taken up for divestment ...






Mamata conveys `no disinvestment' message to Pranab


Times of India - ‎Jul 9, 2009‎

The government has sought to give a positive spin to disinvestment by arguing that the public had a right to a share of PSU "wealth". ...






Govt should revive PSU disinvestment: Economic Survey


India Infoline.com - ‎Jul 2, 2009‎

The Government should aim to raise as much as Rs250bn per year from the disinvestment of its stake in public sector companies, the Economic Survey for the ...








Montek rules out fresh stimulus


Chandigarh Tribune - ‎16 hours ago‎

Meanwhile, the BSNL union has decided to observe an "Anti-Disinvestment Day" on July 22 protesting the government's plan to sell its shareholding in the ...












Details on disinvestment soon: FM


Business Standard - ‎Jul 14, 2009‎

... Mukherjee did not elaborate on government's disinvestment agenda, he said there was expectation that the Finance Minister will also give a list of PSU ...
















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  1. In which year was lpg policy adopted in india??? - Yahoo! Answers

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Market

NSE|BSE

Graph























SENSEX14843.12-219.37
NIFTY4398.90-70.20
NASDAQ1916.206.91
DJIA8915.9467.79
RS/$48.270.16

PSU outperformed private sector last week in markets


By
  
siliconindia news bureau





Wednesday,22 July 2009, 17:15 hrs



           

            





Print





Forward


Bangalore:
Shares of public sector companies outperformed private sector firms
last week. On BSE, public sector undertaking (PSU) index gave better
returns among the dozen other sectoral indices during the week ended
July 19. Among the 13 sectoral indices, the PSU index, which includes
companies like GAIL, BPCL, HPCL, IOCL and MTNL, gave almost five
percent returns in the last week. The PSU index is trading today at
8136.34 points as against 7,851.72 points, a week ago.





















When markets closed today, the total market capitalization of the PSU
stocks was Rs.4,934,647.97 crores. The PSU stocks soars 48.97 points to
close the day 0.61 percent higher of yesterday's close of 8,087.39. The
stocks touched an intraday high of 8272.48 and a low of 8057.90 points.
In all, a total of Rs.1.41 crore PSU shares were traded through the day.



Majority of public sector undertakings have established records of
steady profitability and performance and several amongst them, such as
Bharat Heavy Electricals (BHEL), Coal India (CIL) and National Thermal
Power Corporation (NTPC) have attained global standards. BHEL has
regularly declared dividends for 20 years now. Its order books are full
for the next 10 years. CIL has broken new grounds by acquiring coal
mines overseas. It has paid the government a dividend of Rs.1,700
crore. About 41 central public sector enterprises are listed and they
account for around 40 percent of the total capitalization of stocks
listed on the Bombay Stock Exchange (BSE). Jagannadham Thunuguntla,
Equity Head, SMC Capitals said, "The present government, with the clear
and aggressive disinvestment policy, has a lot of cushion and headroom
in its fiscal policy making. With the aggressive disinvestment policy,
the fiscal deficit may not be such a serious threat to the Indian
economy, as generally perceived."



During the last week, PSU companies that gave positive returns were
Canara Bank (1.54 percent), Bank of Baroda (1.66 percent) and ONGC
(4.69 percent). Other indices that gave positive returns were Reality
(3.91 per cent), Metal (2.06 percent), CD (1.89 percent), Bankex (1.86
per cent) and Auto (1.06 percent).
http://www.siliconindia.com/shownews/PSU_outperformed_private_sector_last_week_in_markets-nid-59643.html


Total solar eclipse dazzles thousands in Varanasi


Times of India - Amit Bhattacharya - ‎4 hours ago‎

VARANASI: For three minutes and
four seconds on Wednesday morning, an ethereal blue-grey darkness
descended on this eternal city of light.






“Technology will be key factor in tackling climate change”


Hindu - Aarti Dhar - ‎14 hours ago‎

NEW DELHI: India and the United
States on Tuesday “registered points of congruence” in their approaches
to climate change and agreed to continue to remain engaged on issues
where there were divergences.





Business Standard - Indian Express - Washington Post - Sidmouth Herald









Pakistan kills more than 30 militants: officials


AFP - ‎52 minutes ago‎

PESHAWAR, Pakistan - Pakistani
troops backed by fighter jets killed more than 30 suspected Taliban
militants around the Swat valley and northwest tribal belt on the
Afghan border, officials said Wednesday.






Clinton declares the US 'is back' in Asia


The Associated Press - Robert Burns - ‎5 hours ago‎

PHUKET, Thailand - US Secretary
of State Hillary Rodham Clinton arrived at a key security conference
Wednesday carrying a no-nonsense message that the United States is
ready to re-engage with Asia after years of neglect.






Mystery of Berlusconi, sex tapes and Putin's bed


Indian Express - ‎1 hour ago‎

Besides Silvio Berlusconi and
his alleged sexcapades, another mysterious element which emerged from
the sex tapes was his reference to Putin's bed.



Wall Street Journal - BBC News - Times Online - Times Online








 

Nifty closes below 4400 on profit booking


Economic Times - ‎22 minutes ago‎

MUMBAI: Indian stock markets
ended lower for the second consecutive session on Wednesday, as traders
booked profits after the recent rally.






RComm inks Rs 10000-cr deal with Etisalat India


Sify - ‎42 minutes ago‎

Anil Dhirubhai Ambani Group
company Reliance Communications said on Wednesday it has bagged a
10-year deal valued at Rs 10000 crore from UAE-based Etisalat's Indian
telecom arm to manage the latter's telecom infrastructure.






Wipro Q1 net profit up 11.78% at Rs 1015.5 crore


Economic Times - ‎2 hours ago‎

Client wins in new markets
lifted India's third biggest software exporter Wipro's first-quarter by
11.78% to Rs 1015.5 crore, even as the company prepared to cope with
lower IT spend among its top customers including Citigroup.







Airline apology to Indian leader


BBC News - ‎1 hour ago‎


America's Continental Airlines has apologised to former Indian president APJ Abdul Kalam for frisking him before he boarded a flight to the US.





Press Trust of India - Rediff - Times of India - Economic Times
हिंदी में

 


Nifty tests 4400; IT, capital goods, power, telecom tumble


Published on Wed, Jul 22, 2009 at 13:44 , Updated at Wed, Jul 22, 2009 at 14:45
Source : moneycontrol.com


Email    Print      














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At 13.35 hrs IST, the markets slipped into red after seeing some choppy trade. Selling pressure was seen in IT, capital goods, power, auto, pharma, FMCG, banking and select oil & gas stocks. Reliance, Infosys, ICICI Bank, L&T and HDFC were negative contributors to the Sensex.


The Sensex was down 173.02 points or 1.15% at 14889.47. The Nifty was down 68.10 points or 1.52% at 4401; it touched an intraday low of 4,393.75.





About 1237 shares advanced while 1486 shares declined on the BSE. Nearly 440 shares were unchanged.


The markets may see a further upmove driven by liquidity and results in the short term, Andrew Holland on Ambit Capital said. “I expect a sharp pullback at a later stage,” he said.  Holland also said that he would favour buying defensive stocks over high-beta and consumer staples currently. “We would also not bet on IT stocks.


Top losers on the Sensex were Grasim at Rs 2,695 down 3.41%, BHEL at Rs 2,140 down 3.38%, TCS at Rs 463.10 down 3%, Jaiprakash Asso at Rs 219.65 down 2.59% Hero Honda at Rs 1,605 down 2.43%.


Index heavyweight Reliance was trading at Rs 1,974.00 down 2.16% from its previous close of Rs 2,017.55.


Tech major Infosys was trading at Rs 1,900.00 down 2.22% from its previous close of Rs 1,943.10.


Top losers on the BSE Midcap - India Cements, United Phos, Thermax, Glenmark and Madras Cements were down 5-7%.


However, top gainers on the Sensex were ONGC at Rs 1,076.80 up 3.06%, Sterlite Ind at Rs 604.50 up 1.45%, Hindalco at Rs 89.50 up 1.07%, DLF at Rs 346 up 0.73% and Tata Power at Rs 1,129 up 0.01%.


 

On the next page - see how Indian markets performed in the last couple of hours












1 | 2 | 3 | 4 |
Next page »













More Market Comments






 



Air India board to be recast within a month: Patel




Tags: New Delhi



(Source: IANS)
Published: Wed, 22 Jul 2009 at 14:20 IST

New Delhi: Promising to recast the board of Air India in a month, Civil Aviation Minister Praful Patel Wednesday said the government cannot help the cash-strapped national carrier "beyond a point" and asked it to change its work culture.
"Air India will be restructured financially, organisationally. I am very sure it will start making profits soon and we will silence all the critics," Patel told reporters on the margins of an aviation industry conference.


"The airline's operations will have to be streamlined," he said, adding: "The government also will not interfere into its problems beyond a point. The management has to address the problems. I am hopeful the carrier will be able to come out of its problems."


The minister said the government was now looking at hiring skilled professionals for the national advisory board of the carrier, with the hope that this would help turn the airline around with some new ideas.


"There has to be change in the ethos and the work culture of the airline. The government will be happy to help them but we expect equal amount of enthusiasm from Air India."


The carrier is in a financial mess with losses expected to have topped Rs.5,000 crore ($1 billion) last fiscal, forcing Patel to seek a Rs.10,000-crore (about $2-billion) bailout package for the beleaguered carrier from Prime Minister Manmohan Singh.


Air India is also raising a $1-billion loan from overseas to fund its fleet expansion programme. The 11-year loan is expected to be guaranteed by the US Export-Import Bank.


Asked about full-service carriers like Air India proposing to turn themselves into low-cost airlines in a bid to tide over one of the worst crises in the global aviation industry in recent years, Patel said: "More such things will occur in a year or two".


The national carrier, for example, had announced recently that its low-cost arm, Air India Express, which mainly flies to the Gulf sector, will start domestic flights this year.


 










Bengal power man at selloff helm







New Delhi/Calcutta, July 21: Bengal power secretary Sunil Mitra will be the disinvestment secretary in the finance ministry.


Mitra, an IAS officer of the 1975 batch, will replace Rahul Khullar, who has moved from the disinvestment department to take charge as commerce secretary.


“The Appointments Committee of the Cabinet has approved the name of Sunil Mitra as secretary in the department of disinvestment under the ministry of finance,” an official release said.


Mitra had served as secretary, Public Enterprises and Industrial Reconstruction, for more than eight years in Bengal.


Officials said Mitra had been handpicked by finance minister Pranab Mukherjee as he had formulated and adopted a divestment policy for 26 PSUs in Bengal.


Among these 26 PSUs, the non-viable ones were closed, while some units were revived through financial restructuring. In some others, the government’s holding was offloaded to the extent of 74 per cent to strategic partners.


Mitra is also behind the corporatisation and the revival of the century-old Calcutta Stock Exchange.


Mitra seemed quite pleased with the new portfolio though he had wished for the power secretary’s post in the Union government. “People may want to be somewhere but they may end up being somewhere else,” he said.


The post of the divestment secretary was lying vacant since Rahul Khullar moved to the commerce ministry in June this year to replace G.K. Pillai, who became home secretary. H.S. Brahma became the power secretary in May.


Mitra, however, didn’t want to discuss his plans for the new job before formally getting the joining order. “Let me get the official order first,” he said. The government is expected to issue the appointment letter on Wednesday.


The finance ministry’s road map on divestment in public sector units would be brought out in 3-4 weeks. However, there would be no strategic sale as the government would retain a 51 per cent stake. The divestment programme will kick off with the dilution of government equity in listed entities, where public holding is less.




News results for Sunil Mitra






Calcutta Telegraph

Sunil Mitra is new Disinvestment Secretary‎ - 18 hours ago

PTI / New Delhi July 21, 2009, 19:55 IST West Bengal Power Secretary Sunil Mitra will be the new Disinvestment Secretary, at a time when offloading of ...
Business Standard - 22 related articles »



Sunil Mitra is new disinvestment secretary - Yahoo! India News


New Delhi, July 21 (IANS) The government Tuesday appointed West Bengal Power Secretary Sunil Mitra as the new disinvestment secretary.
in.news.yahoo.com/.../tbs-sunil-mitra-is-new-disinvestment-sec.html - 17 hours ago - Similar -



Sunil Mitra appointed Disinvestment Secretary - Yahoo! India News


New Delhi, July 21 (PTI) West Bengal Power Secretary Sunil Mitra has been appointed Disinvestment Secretary at the Centre. Mitra, an IAS officer of the 1975 ...
in.news.yahoo.com/.../tbs-sunil-mitra-appointed-disinvestment.html - 19 hours ago - Similar -
More results from in.news.yahoo.com »

Sunil Mitra is Disinvestment Secy

 


 


 


 


 


 


 


 


New Delhi, July 21


The Appointments Committee of the Cabinet (ACC) has approved the appointment of Mr Sunil Mitra, a 1975 batch IAS officer from the West Bengal cadre, as Secretary in the Department of Disinvestment. An official release said that Mr Mitra will fill the vacancy of Dr Rahul Khullar, who has become the Commerce Secretary. The Finance Secretary, Mr Ashok Chawla, was holding additional charge of the Department of Disinvestment after Dr Khullar’s exit. Mr Mitra’s appoi ntment comes at a time when the Government is preparing a roadmap for disinvestment in Central public sector enterprises.


— Our Bureau

 


 

Sunil Mitra, IAS enters the scene dominated by no one else, but PRANAB Mukherjee, the DE Facto Prime Minister of Government of India Incs.

 

Bengali Brahaminical Mindset is UNIQUE! It is sharper than the CHITPAVAN, Kanyakubj, AYIR and MAITHILY brahmins!

 

Pranab THRUST for DISINVESTMENT gets momentum as another Elite Brahmin from Bengal haves the HELMS of DIINVESTMENT Department!

 

Every arrangement is complete for FEEDING the Desi Illuminati and the Killer machine with our Blood and Meat! 

 

Another Brahmin from Bengal, the Railway Minister, MS Mamata Bannerjee supported by PARIVARTANKAMI Intelligentsia ledby Mhashweta Devi, yet another Brahmin declared War to FINISH the Marxists in a Historic Rally in Kolkata yesterday! They detailed Every Genocides and showcased the Families from the VICTIMS, but did NEVER Uttered a single word on Marichjhanpi genocide! Though they used our filmon Marichjhanpi Genocide during the Election Campaign to mobilse the SC Votes. Matuas supported Mamata but Mamata did not care to invite Matua mother BINA PANI Debi. Purna Das Baul was there in the dias. But he had no opportunuty to sing  in the SINGING Rally.

 

Matuas are fighting for the withdrawl of Draconian Citizenship Amendment Act which isused to eject out the Dalit Bengali Refugees out of India!

 

No, Mamta Never discussed Refugee Problem nor the Brahmin Civil Society or Intelligentsia cares for the Aboriginal Indigenous Black Untouchables Persecuted!

 

 

What PRANAB and SUNIL would do with the PSUs, it is well understood!

The finance ministry on Tuesday said that the disinvestment
programme will kick off with the dilution of government equity in
listed entities, where public holding is less.

In an
interview, finance secretary Ashok Chawla also ruled out using the
proceeds of disinvestment to finance fiscal deficit, even as it is
expected to widen to about 18-year high of 6.8% of GDP this fiscal.


“Basically, we will first go with the companies which are listed and
where stocks in public float is much less — 2%, 5% etc. There is scope
for that to increase,” Chawla said.

There are at least 12
listed public sector units where public shareholding is less than 10%.
They include companies like NMDC, MMTC, Neyveli Lignite, Hindustan
Copper.

However, Chawla did not name the companies where disinvestment process could start.


“Now we have had some views, preliminary identification of where it
(disinvestment) will be possible, we had some discussions with
ministries. It is at that stage,” he said.

When asked about
the amount government aims to raise from disinvestment, Chawla said,
numbers cannot be fixed as yet since these are only preliminary
discussions.

“Now what will finally be agreed to? What will
the Cabinet approve? What percentage? When it will happen? What will be
the market price? That will determine the amount which is a function of
number of shares and market price. So, there cannot be a maximum target
per se,“ Chawla said.

Chawla indicated that the advise given
by the economic survey about raising Rs25,000 crore from disinvestment
every year might not happen this fiscal.

“What the economic
survey says you should look at Rs25,000 crore a year, but that may or
may not happen every year. In the current year already four months or
so have gone. There is time process, through which these companies have
to go, so therefore for the current year it is very difficult to say
what the amount will be,” the finance secretary said.

He also
said the proceeds from disinvestment will not be used to fund widening
fiscal deficit. “The amount will not be used to finance fiscal deficit,
it would be used for high priority social sector programmes,” he said.

There
were speculations that the government may use part of the proceeds to
finance fiscal deficit, but currently the proceeds go to the National
Investment Fund (NIF), norms of which do not allow this.

When
asked whether NIF norms will be changed, Chawla said, “That I can’t
say. The Cabinet will decide that. But, either way whether it is spent
through NIF or otherwise, it will be spent on flagship social sector
programmes,” he said.

On the other hand,Department of public enterprises secretary, R Banerjee, clarified that
privatisation means bringing down the government holding to below 51%...

The government would not go for privatisation of profit-making
PSUs, secretary with the department of public enterprises, R Banerjee,
has said.


Speaking at an interactive session organised here
by the Indian Chamber of Commerce on Saturday night, he said,
“Profit-making PSUs will not be privatised,” and clarified that
privatisation means bringing down the government holding to below 51%.

Banerjee
said that the PSUs which will be categorised under the ‘Maharatna’
status, will be given full commercial and managerial autonomy.

“The
department has recently floated a note and circulated to different
ministries for their comment” on it, he said, adding that it was a part
of the government’s 100-day programme.

Out of the 242 central
public sector units, 18 were Navratnas and 54 are Miniratnas, he said.
He further said that the CPSUs were contributing to nearly 8% of the
GDP.

“Three more PSUs are in the pipeline to get the Navratna status,” he added.

The Union government said on Monday the proposed restructuring of
state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone
Nigam Ltd (MTNL) ahead of their possible merger has been put on hold.

“A
consortium of consultants led by ICICI Securities, appointed to advise
the government in restructuring MTNL and BSNL for achieving higher
synergies in their operations, has suggested some options for
restructuring,” minister of state for communications Gurudas Kamat told
Lok Sabha. “Since the enabling conditions for the suggested options are
not appropriate...the restructuring of BSNL and MTNL has been put on
hold for the time being,” he said.



 The government said Tuesday it is looking at listing BSNL and TCIL
at the bourses with an initial 10% divestment, but the timeline for
this would be decided in consultation with the finance ministry.

The government believes the listing especially of BSNL would help improve the company’s image and promote its growth.

“Two
of our companies BSNL and TCIL are not yet listed. We would like to
list them with 10% divestment in each of them initially. But the
timeline will be decided in consultation with the finance ministry,”
Telecom secretary Siddharth Behura said here.

BSNL sources
said there will not be any fresh equity, but only offloading by the
government. The company will not get any proceeds from the IPO.

BSNL’s
net profit has hit a low of Rs104 crore on revenue of Rs34,937 crore,
both down from a year earlier, hit by higher staff costs and declining
income from services.

The government had planned to sell 10%
of BSNL and list its shares last year, but had to defer the proposal
after opposition from a major workers union and the stock market
meltdown.

TCIL’s CMD Rakesh Upadhyay said whatever decision
the government takes, the PSU will abide by it. No valuation had been
done yet, he said, but the listing would be good for the company.

The
BSNL union has meanwhile decided to observe an “Anti-Disinvestment Day”
on 22 July protesting the government’s plan to sell its shareholding in
the company.

“The plea of the management that IPO is
necessary to mop up funds for development and expansion is far from the
truth, as the BSNL has more than Rs37,000 crore stashed in banks. It
can be used for expansion instead of selling shares,” V A N Namboodiri,
Convenor, Joint Forum of BSNL Associations, said in a statement.

The
Joint Forum of BSNL Employees Association/Unions of Executives and
Non-executives has said it would be sending telegrams to Prime Minister
Manmohan Singh and telecom minister A Raja demanding dropping the IPO
and disinvestment proposal, the statement said.

 

Meanwhile,Planning Commission deputy chairman Montek Singh Ahluwalia today said there would be no more stimulus packages for the economy.

 

He said the budget had many incentives for the economy. “We don’t need any more stimulus packages. We should concentrate on implementing what is there,” he told reporters.

 

The government had earlier cut excise duty by 6 per cent and service tax by 2 per cent in three stimulus packages.

 

He said it was too early to say that the monsoon would have an adverse impact on the gross domestic product.



“Now it is too early to say about the condition of the monsoon; this is true that so far there is a problem but the impact of this could be ascertained only when we come to know the total deficiency in rainfall; if it is 5-10 per cent deficit then there would not be much impact, he said.”



Export sops



The government today said it would provide sops to exporters in the foreign trade policy to be announced in August.



“We will see what best we can do to make Indian exports competitive globally,” commerce minister Anand Sharma told reporters.

 

Anil Ambani intends to invest in airports — and he isn’t fazed by the loss of the Mumbai and Delhi airports in a bidding war three years ago.

“We will keenly pursue the upcoming projects for international airports at Navi Mumbai, Pune and Goa,” Ambani told shareholders of Reliance Infrastructure here today.



The younger Ambani scion is also betting big on cement and aims to emerge as one of the top five players in this area in the next five years.



Ambani is hoping to realise both ambitions through Reliance Infrastructure (formerly BSES). He said the government wanted to modernise 35 non-metro airports, and it had opted for a public-private participation model for the purpose.



“Taking air travel to India’s remoter regions and rural hinterland will throw up the next big opportunity for growth in the aviation sector,” he said.



In 2006, Ambani was a serious contender for the modernisation of both the Delhi and Mumbai airports. He, however, lost out in the race to two consortia led by GMR and GVK, respectively.



The younger Ambani, however, sees good potential in the sector as there has been a sharp growth in air traffic in India in the past few years, and existing infrastructure at most airports is inadequate to deal with the surge in traffic.



Ambani said the foray into cement was a natural extension of the power and infrastructure interests of the group.



Reliance Infrastructure is planning to set up cement plants with an aggregate capacity of 20 million tonnes, annually, at a cost of nearly Rs 10,000 crore over the next five years, thus placing it amongst the top five players in the country.


 


Reliance Capital — the Rs 5,976-crore financial services company owned by Anil Ambani — plans to list its life insurance business.



It could also induct a financial or strategic investor in the life insurance business — the only private player today without a foreign partner.



If Ambani goes ahead with a public offer for Reliance Life Insurance, it will be the first life insurance company to be listed on the bourses.



Reliance Capital is also planning to enter investment banking over the next 12 months to ramp up its presence in institutional broking and private equity.



Addressing the shareholders of Reliance Capital here today, Ambani said the life insurance business had grown rapidly over the past four years and ranked among the top four private life insurers in India.



“We are considering various options to unlock this value from a potential IPO to strategic or financial stake sale, or even a combination of both — subject to necessary approvals. A final decision will be taken shortly, driven by the sole objective of maximising returns for our shareholders,” he said.



This is not for the first time that Reliance Capital is looking to unlock shareholder value in one of its business lines. Back in 2007, Eton Park, a global investor, picked up a 5 per cent stake in Reliance Capital Asset Management for Rs 501 crore that valued the latter at Rs 10,000 crore.



Ambani revealed that Reliance Life Insurance recently crossed the milestone of three million policies in force. It is among the top three players in terms of the number of policies issued.



“Despite the growth momentum witnessed by the industry over the past few years, the potential for expansion remains strong, thanks to low penetration levels, attractive demographics, robust economic prospects and increasing investor awareness. We are committed to growing our market share in this business,” he said.


KIOCL disinvestment put on hold; MOIL to go ahead

The government has decided to
go ahead with the disinvestment of state-owned Manganese Ore
India Ltd, even as it shelved plans for further equity
dilution in the ailing KIOCL.



"KIOCL is not a case for disinvestment as of now.
Currently, its strategic partnership with NMDC is being worked
out. Moreover, we will be sending the proposal for
disinvestment of MOIL shortly (to Finance Ministry)," Steel
Secretary P K Rastogi told reporters.



The government is likely to offload 10 percent equity in
MOIL, which is engaged in mining of manganese and production
of ferro alloys.




Meanwhile, the government has put on hold the proposal to
offload about 9 per cent equity in the Kudremukh Iron Ore
Company Limited (KIOCL), which was closed down last year.



The Finance Ministry had earlier asked its counterpart in
the steel ministry to work on divesting stakes in navratna
firms NMDC, MOIL and KIOCL, as part of a broader plan to
mobilise resources to meet their funding needs.



The government is likely to earn about Rs 102 crore by
divesting 10 percent stake in MOIL. It has also been planning
to list the company for the past one year now.



The government may also sell a minimum of 8.3 percent
stake in already listed NMDC Ltd, which may fetch it over Rs
10,000 crore. It has already offloaded about 1.7 percent of
its equity in the country's largest iron ore firm.



About 1 percent stake in Kudremukh Iron Ore Company Ltd
(KIOCL) is already offloaded and is listed in regional stock
exchanges. As per the 100-day agenda, the government is
planning to make it a subsidiary of NMDC and give life to the
company shut since last year.



Finance Secretary Ashok Chawla yesterday said that the
disinvestment programme will kick off with the dilution of
government equity in listed entities, where public holding is
less.



Apart from the PSUs under the steel ministry, the
government is learnt to have identified MMTC, Coal India Ltd,
Hindustan Copper, Oil India Ltd and NHPC for disinvestment.



At the time of presenting the Union Budget for the
current fiscal, Finance Minister Pranab Mukherjee said that
while retaining the 51 percent stake in the PSUs, the
government is committed to the disinvestment programme.



He also added that the public holding in the listed
state-run entities should be raised in a phase-wise manner.



The Economic Survey had suggested the government to raise
up to Rs 25,000 crore through selling its stake in PSUs.



FIPB to reconsider ByCell’s proposal on mobile services

Swiss telecom firm ByCell has approached the Foreign Investment
Promotion Board (FIPB) to reconsider its proposal to start telecom
services in India and the matter will be taken up later this week.


Earlier, the government had revoked all foreign collaboration approvals given to the firm on security reasons.

ByCell
has approached the FIPB against revocation of all foreign collaboration
approvals and the matter is listed in the agenda for the next meeting
of the board slated for 24 July.

The proposal involved an investment of over Rs2,500 crore in five circles across 13 states in the country.

The decision was taken on the basis of withdrawal of security clearance by the ministry of home affairs.

The ministry had raised objections over concerns regarding the original sources and channel of flow of funds.

ByCell Holding AG, Switzerland, holds 64.66% in ByCell Telecommunications India, while its Indian partner Bitcorp holds 35.34%.

Earlier
this year, ByCell had dragged the FIPB and the department of telecom to
court over failure to grant the company a telecom license.

3G spectrum auction may happen next year


After raising the hopes of both subscribers as well as telecom
companies, the government is understood to be in no special hurry for
auctioning spectrum for 3G mobile services this calendar year.
Earlier, indications were that the radio waves would be auctioned by September this year.
According
to sources close to the development, there is a feeling that the
government may not get the revenue it is looking at if it bids out
spectrum in the midst of a global recession — which means mobile users
would have to wait a while before they can enjoy faster voice and data
services.
The government has projected a revenue of Rs35,000
crore in budget 2009-10 from the auction of spectrum and had last month
decided to keep the reserve price at Rs4,040 crore for radio waves for
pan-India operations.
An Empowered Group of Ministers (EGoM)
chaired by finance minister Pranab Mukherjee has been formed to look
into issues relating to 3G spectrum auction and decide on the number of
slots to be auctioned in the first phase.
Asked whether the
Department of Telecom (DoT) has sought the first meeting of the EGoM,
sources said the meeting is likely to take place soon but confirmed
that auction of spectrum may happen only in January-February next year.
Going
by the proposed reserve price of Rs4,040 crore, the government is
expecting to garner over Rs32,300 crore — assuming that all seven
players, including BSNL/MTNL, opt for 3G mobile services across India.
Meanwhile,
the government today said that 3G spectrum was available in all states
except in Rajasthan (nil) and only five MHz in Himachal Pradesh.
Only
four southern states and Orissa have maximum 60 MHz each of 3G spectrum
while in other states the quantum of spectrum varies between 10 MHz to
50 MHz.
Last month, finance minister Pranab Mukherjee and
Raja had met Prime Minister Manmohan Singh and decided to fix the
reserve price at Rs4,040 crore, double from what was initially
recommended by the DoT.
Initially, six private operators
apart from state owned MTNL and BSNL would be allowed to offer 3G
services that enables high speed internet, videos and many other
value-added services on mobile phone.
While the government
would get at least Rs24,240 crore from six operators that are chosen
after the bids, PSUs MTNL and BSNL would shell out another Rs8,080
crore assuming no player bids beyond the reserve price.

Govt to kick off stake sale in two PSUs

22 Jul 2009, 0515 hrs IST, Subhash Narayan,
ET Bureau

NEW
DELHI: The steel ministry has initiated steps to sell small stakes in
profit-making state-run firms Manganese Ore India Ltd (MOIL) and NMDC,

which it
estimates could fetch up to Rs 25,000
crore.



While the ministry has
cleared a proposal to divest 10% in unlisted MOIL through an initial public
offering (IPO), a proposal to divest 8-20 % stake in listed NMDC (formerly
National Mineral Development Corporation) is under its active consideration,
said a ministry official. NMDC has a market float of just
1.62%.



If the steel
ministry’s plan materialises, it could help the government meet the Rs
25,000-crore selloff target set for the current fiscal year by the Economic
Survey.



The Union Budget,
presented by finance minister Pranab Mukherjee on July 6, refrained from making
any major commitment and proposed a modest disinvestment target of Rs 1,120
crore for the current financial year, although the central government clarified
later that there could be more selloff proposals later in the year.

Road map for PSU disinvestment soon: fin secretary


The government will retain 51% stake in all public sector units



PTI














  • font size









New
Delhi: The Finance Ministry on Wednesday said a road map for
disinvestment in public sector units will be brought out in three-four
weeks, but there would be no strategic sale.
The government will retain 51% stake in all public sector units, finance secretary Ashok Chawla said.
Finance
minister Pranab Mukherjee had on Tuesday, in his reply to the debate on
the Union Budget, said: “My ministry has initiated discussions with
other ministries and departments for identifying the PSUs” for
disinvestment.
The government has proposed to mop up Rs1,100 crore this fiscal from divestment of stake in PSUs.
Pointing out that there is some recovery in the economy, Chawla said at this point of time priority is given to growth.
He
said more spending will lead to higher borrowings, but the government
will not resort to monetisation of debt. Monetisation of debt is when
the government directly borrows from RBI or the central bank
subscribing to the government bonds directly.
The finance
secretary said the government will borrow from the market right now and
later RBI will support it via open market operations, through which the
central bank sucks or lends liqudity to the system against government
bonds.
The Centre’s fiscal deficit is pegged at 6.8% of GDP
this fiscal, as expenditure increases and gross tax receipts decline
due to continuance of stimulus packages. The government’s market
borrowing is pegged at about Rs4 lakh crore this fiscal.
Chawla said the market has appetite, as there is lot of liquidity in the system.

Government provides Rs 7,128 crore for revival of 15 PSUs

21 Jul 2009, 1637 hrs IST,
PTI


NEW
DELHI: The government has provided Rs 7,128.54 crore for reviving 15 sick Public
Sector Enterprises (PSEs), the Minister of State for Heavy

Industries and Public
Enterprises Arun Yadav said on
Tuesday.



"Based on the
recommendations of the BRPSE (Board for Restructuring of Public Sector
Enterprises), revival or restructuring of 15 PSEs has been approved," the
minister told Rajya Sabha in a written
reply.



Some of the PSEs that
received large amounts of funding from the government are Cement Corporation of
India Ltd (Rs 1452.24 crore), Heavy Engineering Corporation (Rs 1,368.30 crore),
HMT (MT) Ltd (Rs 880.80 crore) and Tyre Corporation of India Ltd (Rs 815.59
crore), according to the data provided by the
minister.



The BRPSE recommended
27 PSEs for revival between December 2004 and June 2009, out of which 15 have
already been provided funding by the
government.



Other sick
companies in the list that have received funding included Nagaland Pulp and
Paper Co Ltd (Rs 669.42 crore), Instrumentation Ltd (Rs 549.36 crore), Andrew
Yule and Co Ltd (Rs 383.33 crore), National Instruments Ltd (Rs 241.86 crore)
and Bridge and Roof Co Ltd (Rs 102.92
crore).



Rest of the six
companies received funds in the range of Rs 51.37 crore to Rs 214.71
crore.



The minister said the
government is contemplating referring Scooters India Ltd to BRPSE.


RNRL, TCS, Wipro among favourite picks of fund managers in June

22 Jul 2009, 1617 hrs IST,
PTI


NEW
DELHI: Software exporters Wipro, Tata Consultancy Services and ADA Group firm
Reliance Natural Resources are among the companies which have
caught the fancy
of fund managers in June, while Punjab National Bank and Indian Oil Corporation
lost some flavour.



An analysis
of buy and sell transactions by mutual funds during May shows that the fund
houses purchased stocks from sectors like power, software, housing finance and
sugar, while offloading shares from banking, refineries and
airlines.



According to
brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance
Petroleum figure amongst the favourite picks by the equity funds in the month of
May. Besides, MFs were also seen adding a couple of new stocks to the
portfolio.



The top new picks
for equity funds includes, UCO Bank, Swaraj Mazda, Bhushan Steel and Purvankara
Projects, the data compiled by Sharekhan
shows.



Besides, in the mid-cap
equity funds portfolio stocks of Mahindra Satyam, RNRL, Hindalco Industries and
Network 18 Media caught the fancy of the
MFs.



In the last month,
domestic MFs have made complete exits from the portfolio of equity funds in the
scrips of a host of firms including Ansal Properties, HOEC and Wire and
Wireless.




















Also Read
 → MFs see inflow of Rs 1,500 cr in equity schemes in June
 → Liquid funds may now fetch less for companies
 → SC to decide on 'dividend stripping' by mutual funds
 → Reliance Mutual Fund declares dividend for two schemes




Besides, IOC, PNB, Bajaj
Auto Finance
and CEAT are among the mid-cap stocks where some of the funds have
made a complete exit.



Some of
the popular stocks which caught the fancy of investors in June include the
country's most valued firm Reliance Industries, largest lender State Bank of
India and private sector ICICI Bank.




Besides, Bharti Airtel,
Infosys Technologies, Financial Technologies and pharma firm Lupin have been
included amongst the popular stocks in mid-cap funds, according to Sharekhan.




According to the Mutual Fund
Monthly Performance Report of Reliance Money the fund houses have increased
their exposure in companies like Essar Oil, RNRL, Tata Communications and
Infosys.



Besides, the report
noted that the companies in which the MFs have decreased their exposure include
Adlabs, Hindalco Industries, ITC and Sun Pharmaceutical.




Besides, the "fresh entrants"
in the mutual fund buying list as compiled by Reliance Money include Allcargo
Global, Ahluwalia Contracts and Swaraj Mazda.




At the end of June, the
combined average of Assets Under Management (AUM) of the 35 fund houses in the
country increased by Rs 31,863.31 crore or 5 per cent to Rs 6,70,993.13 crore
which analysts believe was mainly on the back of increased inflows into
fixed-income schemes.












Other stories in this section


More >>


Other News

http://economictimes.indiatimes.com/RNRL-TCS-Wipro-among-favourite-picks-of-fund-managers-in-June/articleshow/4807705.cms

Agriculture: Secret of Modi's success

22 Jul 2009, 0338 hrs IST, Swaminathan S Anklesaria Aiyar,
ET Bureau













When
Narendra Modi won the 2007 state election in Gujarat, the media focused on
Hindu-Muslim issues. Some journalists highlighted rapid

industrial development
that had made Gujarat India’s fastest-growing state. I mentioned
Gujarat’s successful port-led development.



However, an
excellent new study suggests that the secret of Modi’s success lay in
agriculture, an area completely neglected by political analysts. Ashok Gulati,
Tushaar Shah and Ganga Sreedhar have written an IFPRI paper, ‘Agricultural
Performance in Gujarat Since 2000’, which highlights something few people
know — that Gujarat’s agricultural performance is by far the best in
India.



Between 2000-01 and 2007-08 agricultural value added grew at
a phenomenal 9.6% per year (despite a major drought in 2002). This is more than
double India’s agricultural growth rate, and much faster than
Punjab’s farm growth in the green revolution heyday. Indeed, 9.6%
agricultural growth is among the fastest rates recorded anywhere in the world.
That drives home the magnitude of Gujarat’s performance.



Since
the bulk of Gujarat’s population is still rural, this mega-boom in
agriculture must have created millions of satisfied voters. Hence it must have
played a major role in Modi’s victory. Yet I did not see a single media
analyst mention it.



Gujarat is drought prone, with 70% of its area
classified as semi-arid and arid. Although journalists focus on the Sardar
Sarovar Project, its canal network is hopelessly incomplete, and currently
irrigates only 0.1 million hectares. No less than 82% of irrigation in the state
comes from tubewells, which have depleted groundwater. By the mid-1990s,
groundwater extraction exceeded natural recharge in 31 talukas, and 90% of the
safe extraction yield in another 12 talukas.



In the 1990s, the state
along with grass-roots organisations embarked on decentralised water harvesting.
This included the building of check dams, village tanks, and bori-bunds (built
with gunny sacks stuffed with mud). During the 2007 election campaign, the
Congress slogan was ‘chak de, chak de Gujarat’. I heard Modi say at
a rally that his reply was “check dam, check dam Gujarat.” I did not
realise at the time how significant this really was.



The IFPRI study
says that 10,700 check dams were built up to 2000, and helped drought-proof
32,000 hectares. That sounds a lot. But subsequently, under Modi, Gujarat has
built ten times as many check dams! He could well say ‘chak de, check
dam’. These have played a big role in the agricultural growth of
Saurashtra and Kutch (aided, it must be said, by bountiful monsoons in the last
five years). Better water availability has also increased milk and livestock
production.



Gujarat has promoted drip irrigation, badly needed to
conserve water in semi-arid districts. Like other states, Gujarat offers
subsidies and loans, but it also fast-tracks and simplifies procedures. Farmers
contribute 5% initially. Then a state-owned company provides 50% as subsidy, and
arranges a bank loan for the balance of 45%. One lakh acres have been covered by
drip irrigation so far. Like the Sardar Sarovar Project, drip irrigation’s
total irrigation potential is far higher.



Research shows that rural
roads are the most important investment for agriculture. Gujarat has one of the
best rural road networks in India, and 98.7% of villages are connected by pukka
roads.



Modi’s Jyotigram scheme for power has provided regular,
high-quality electricity to villages, greatly helping farming. Jyotigram
provides separate electric feeders for domestic use and pump-sets. This permits
the state to supply round-the-clock domestic supply, while limiting agricultural
supply to eight hours a day (which is continuous and of constant voltage).




This has facilitated a switch to high-value crops like mango, banana
and wheat, which need assured water. Constant voltage has protected farmers from
damage to pump-sets earlier caused by fluctuating voltage. Continuous power for
non-agricultural uses has spurred diversification into non-farm activities,
vital for rural growth.


The irrigated area has expanded at the rate of 4.4%
per year. The fastest growth in crops has been in wheat, followed by cotton and
fruits and vegetables.



Private seed companies have brought in new
technology for several crops, ranging from bajra to castor, but above all in Bt
cotton. More than 20 Bt cotton varieties are now produced by 30 seed companies.
In his election campaign, Modi waxed eloquent about Gujarat’s success in
cotton.



He declared that Gujarat was now famous in China as the
producer and exporter of Bt cotton, and he said this was a source of Gujarati
pride. (Let me add that this is a great improvement on his earlier notion of
Hindu pride, exemplified in his ‘gaurav yatra’ after Godhra).




Gujarat has only 26% of India’s cotton area, but 35.5% of its
production, thanks to high yields.


Rising world prices have also helped,
and been buttressed by a huge jump in the minimum, support price for
cotton.



New institutional arrangements like contract farming have
helped improve marketing. Gujarat’s famous dairy co-operatives (everybody
loves Amul) have provided a stable basis for milk and livestock development. But
the private sector is emerging as an important player too. Corporates have
entered agro-exports, agro-processing, organised food retail, and rural
infrastructure development.



Vimal Dairy and Vadilal Industries have
entered the dairy sector. Agrocel has taken up organic farming of cotton and
sesame seeds. Atreyas Agro and Godrej Agrovel plan contract cultivation of
jatropha and palm oil respectively. Food retail chains like Food Bazaar,
Reliance Fresh and Spencer have sprung up in Gujarat’s cities, sourcing
produce from farmers directly.



The state has helped catalyse
production, notably in water harvesting. It has worked with NGOs and companies
to bring the best technology to farmers. Gujarat Agricultural University has
been split into four separate universities, helping strengthen
R&D.



Can this be replicated in other states? Much of it can.
Jyotigram looks least likely to be replicated because it abandons the
free-but-unreliable rural power that politicians regard as vote-winners in most
states. Many states also prefer large irrigation projects to small
water-harvesting ones, since bigger projects translate into bigger kickbacks.
Yet Modi’s electoral success points to a new way of winning rural votes.
Others should sit up and take notice.






Govt revisits umbrella financial regulator plan

21 Jul 2009, 0305 hrs IST, Dheeraj Tiwari,
ET Now

The government is considering a
proposal to set up a financial sector oversight agency (FSOA) which could
function as an umbrella organisation

for all regulators in this sector. The move
comes as a section in the government holds the view that the structured approach
and enhanced co-ordination among regulators have become necessary in the wake of
a global financial meltdown.



Three years ago, a proposal for a super
regulator was thwarted by Sebi. The government is avoiding a similar strategy
this time in view of the resistance it could face.



According to a
senior finance ministry official, the oversight agency will not be a super
regulator and will focus on macro-economic issues and defuse inter-regulatory
conflicts. “Among other proposals for a co-ordinated approach, the idea of
an oversight agency has also been discussed with regulators. But this is not
going to be a super regulator, but more of an apex body with representatives of
all financial services sector regulators,” the official
said.



The government is yet to outline the domain of the oversight
agency, but has made it clear to the players concerned that the jurisdictions of
the existing regulators will stay. The new agency will only act as an umbrella
body covering RBI, Sebi, IRDA, Forward Markets Commission and PFRDA. “The
idea is not to leave any gap in financial sector regulation. The oversight
agency will have a more unified approach, since existing regulators are more
focused on their specific areas,” the official added.



The
government is also considering a proposal for setting up a financial ombudsman
office to expand customer literacy, prevent exploitation and arbitrate
grievances. According to Anjan Roy, economic advisor, Ficci, though the concept
of an oversight agency hasn’t worked in the West, it may be a good idea to
bring all regulators on a common platform here. “Markets are integrated
and any unregulated participant can cause problems, as we have seen during the
current crisis. If such an agency comes into existence, it may be able to chalk
out a unified approach to tackle such problems,” he said.




Senior ministry officials maintain that the government expects full
support from the existing regulators, since the new body won’t affect
their current domains.


Stake sales in 3 PSUs could fetch at least Rs26,000 cr


Government
can raise at least Rs26,500 crore from minority stake sales in
state-owned NMDC Ltd, KIOCL and Manganese Ore (India) Ltd



Siddharth Zarabi / CNBC-TV18














  • font size









New
Delhi: The government can raise at least Rs26,500 crore from minority
stake sales in state-owned NMDC Ltd, Kudremukh Iron Ore Co. Ltd (KIOCL)
and Manganese Ore (India) Ltd.
Finance secretary Ashok
Chawla, who is also the secretary of the disinvestment department in
the finance ministry, has held discussions to consider the modalities
of the stake sales in these three companies earlier this week, said
people familiar with the development.
No final decision has
been taken yet but the people said on condition of anonymity that six
public-sector firms listed on stock exchanges, in which the government
holds at least 90% stake, are being considered for additional equity
offers to the public. These include MMTC Ltd, Engineers India Ltd,
Hindustan Copper Ltd and Neyveli Lignite Corp. Ltd.
In the
case of NMDC, which is listed with a 1.62% public shareholding, the
government is looking at offloading between 8.38% and 20%. If it were
to offload 8.38% to meet market regulator Securities Exchange Board of
India’s stipulation of a minimum 10% threshold public shareholding in
listed public-sector firms, the government would raise Rs10,351 crore
based on its closing price of Rs311.55 on 13 July.
However,
if the government chooses to offload an additional 18.38%, taking
public shareholding to 20%, it can raise around Rs24,704 crore, thus
exceeding expectations of Rs10,000-15,000 crore as disinvestment
receipts in 2009-10.
Similarly, the government is looking at
raising up to Rs1,713 crore by offloading an additional 19% in KIOCL,
taking the public float to 20%.
cnbctv18@livemint.com
http://www.livemint.com/2009/07/16215258/Stake-sales-in-3-PSUs-could-fe.html?d=1


 

 

60-70% industrial workers in Bengal, Gujarat are contract labour

 


 


 


 





Research finds violation of minimum wage, labour laws.


 


 


 


 





No specific working hours: A file picture of labourers at a brick kiln.

 


Our Bureau



New Delhi, July 21 In West Bengal and Gujarat, 60-70 per cent of the workforce in manufacturing industries has been found to be contract labour, which is thrice the official estimate.


Moreover, minimum wage and other contract labour laws were widely found violated.


According to a research conducted by the Institute of Economic Growth (IEG) for the international research body, Improving Institutions for Pro-poor Growth (IPPG), many workers had no specific working hours or medical benefits, very little earned leave and few safety precautions for hazardous work.


Dr Dibyendu Maiti, who led the IEG research team, says, “India’s Annual Survey of Industries, the official record of industrial statistics, puts the share of contract labour in organised manufacturing at 15-26 per cent across these States. We found the share to be much higher in our sample States. This may be because we undertook extensive fieldwork. Most official estimates of contract labour are based on secondary data, where it is likely that contract labour is under-reported by employers.”

Lack of ESI cover

 


 


In Gujarat none of the contract workers surveyed had Employee’s State Insurance (ESI), while in West Bengal, one in four workers received the benefit.


Contract labour regulations were not effective even in West Bengal, where such workers are largely recruited and controlled via trade unions.


Also, workers in West Bengal were less likely to be paid the minimum wage than in Gujarat.


“Contract labour regulation exists and should be enforced effectively. Our study suggests the establishment of a vigilance committee, involving representatives from the Labour Department and the workers’ community, to improve governance and transparency,” said Dr Maiti.


According to IPPG Joint Director, Prof Kunal Sen, effective political action is needed to ensure economic growth is more inclusive.


“Since Gujarat and West Bengal are both heavily industrialised, and, therefore, representative of manufacturing across India, this study has significant implications nationwide.


It also suggests that India’s economic success is not improving the lives of contract and informal workers, who form the largest section of the economy,” he said.



 

Kingfisher owes Rs 950cr to PSU oil firms









NEW DELHI: Vijay Mallya-owned
Kingfisher Airlines owes over Rs 950 crore to state-run oil companies in unpaid
jet fuel bills, petroleum minister

Murli Deora said on Monday.




Kingfisher owed "Rs 37.36 crore to Indian Oil Corp, Rs 598.78 crore
to Hindustan Petroleum Corp Ltd and Rs 314.32 crore to Bharat Petroleum Corp
Ltd," he said in a written reply to a question in Rajya Sabha here.




"The outstanding dues of Kingfisher Airlines as well as other
airlines had started accumulating during the year 2008-09 because of the sharp
rise in prices of Aviation Turbine Fuel in line with the crude oil prices to
record highs during April to September," he said.



In case airlines
fail to pay their dues, oil marketing companies take action for recovery of dues
in line with the mutually agreed commercial terms, Deora said. "These include
putting on 'cash and carry' and interest is recovered on all overdue payments."




"The issue of outstanding dues was also taken up with the Ministry
of Civil Aviation which has advised the airlines to clear their outstanding dues
promptly," Deora added.





More Stories from this section

http://timesofindia.indiatimes.com/NEWS/Business/India-Business/Kingfisher-owes-Rs-950cr-to-PSU-oil-firms-/articleshow/4799653.cms

Public Sector Undertaking



A
lot of Public Sector Undertakings (PSU) under the aegis of Government
of India regularly provide for employment opportunities in various
areas. Job seekers can apply to these undertakings, according to their
required job profile and area of interest.


Here's a list of the recruitment web pages providing recruitment related information for some of the PSU's in India:


A




B




C




D and E




F and G





H




I




K, L and M




N




O and P




R




S




T, U and W







Source: National Portal Content Management Team, Reviewed on: 14-03-2008



 

Govt raises 2008-09 foodgrain output estimates by 4 mt

 


 


 


 





Record production in wheat, rice, maize and gram.


 


 


 


 





The Minister for Agriculture, Mr Sharad Pawar

 


Our Bureau



New Delhi, July 21


The Centre has revised upwards its foodgrain production estimates for 2008-09 by over four million tonnes.


The Agriculture Ministry’s ‘Fourth Advance Estimate’, finalised last week, puts the country’s total foodgrain output for 2008-09 at an all-time-high of 233.88 million tonnes (mt), bettering the earlier record of 230.78 mt achieved in 2007-08.


The latest 233.88 mt figure is also more than the ‘Third Advance Estimate’ of 229.85 mt and the ‘Second Advance Estimate’ of 227.88 mt, released in May and February, respectively.


Much of the upward revision is on account of wheat and maize.


The 2008-09 wheat crop’s size is now reckoned at a new high of 80.58 mt, compared with the preceding estimates of 77.63 mt and 77.78 mt. The reassessment follows an unprecedented 25.14 mt of procurement by Government agencies, surpassing the 22.69 mt that was mopped up from the 2007-08 crop of 78.57 mt.


The output estimates of maize have likewise been raised from 17.04 mt (February) and 18.48 mt (May) to a record 19.29 mt. The other crops whose production is seen to have touched all-time-highs in 2008-09 are rice (99.15 mt), gram (7.05 mt) and castorseed (1.12 mt).

Progressive policies

 


 


The Agriculture Minister, Mr Sharad Pawar, has sought to credit the record output achieved in 2008-09 to the “progressive policies” adopted by the United Progressive Alliance Government to give a boost to the farm sector.


During the term of the previous National Democratic Alliance, the country’s foodgrain production went up from 203.61 mt in 1998-99 to 213.19 mt in 2003-04, i.e. only 9.58 mt or 4.7 per cent over five years.


But in the five-year tenure of the UPA, output rose to 233.88 mt, i.e. by 20.69 mt or 9.7 per cent, Mr Pawar said while replying to the debate on his Ministry’s Demand for Grants in the Lok Sabha on Monday.


Among the measures that the Minister identified as having given a thrust to farm growth were the significant increases in minimum support prices of crops and revival of public investment in agriculture over the last five years.

Current year trend

 





 


 


The current year may, however, reverse the trend of four consecutive years of production increase. If present kharif season sowing and weak monsoon precipitation levels are any indication, 2008-09 will be a tough act to follow. The high base of 2008-09 could even translate into a low, if not negative, agricultural growth for 2009-10, thereby, impacting the overall GDP numbers as well.

Production prospects

 


 


A clearer idea of the production prospects for 2009-10 would be available by September, when the Agriculture Ministry will come out with its ‘First Advance Estimates’ of the kharif crop that is currently being sown.


The subsequent estimates would give a more complete picture, as they will also capture the rabi crop planted towards the winter.

Sugarcane

 


 


The difference in production between the various estimate stages is best exemplified by sugarcane.


In its ‘First Advance Estimate’, the Ministry projected the 2008-09 sugarcane crop at 294.66 mt, which got successively downgraded to 290.45 mt, 289.23 mt and 271.25 mt in the following three estimates.


This is opposite to what has happened in wheat and maize.


 


 


 


 


 


 

Related Stories:
Corn prices ease on hopes of monsoon revival
‘Self-sufficiency in food production within reach’
Basmati plantings get a boost despite deficient monsoon
Kharif sowing in full swing

 








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Bengal faces an exodus of bureaucrats


At least eight principal secretaries in the state government, including two additional chief secretaries, are looking to leave



Romita Datta


Kolkata:
West Bengal’s Left Front government, trying to come to terms with its
worst electoral performance in the state in 32 years, is facing a new
problem: an exodus of senior civil servants who want to move on to
other, hopefully less stressful, postings.
At least eight
principal secretaries in the state government, including two additional
chief secretaries, are looking to leave. That makes for about one-sixth
of the state administration officials with the rank of principal
secretary.
Most of them are “headed for Delhi” to work in the
Union government, said S.N. Haque, principal secretary in the personnel
and administrative reforms department, who is responsible for human
resources. “We have already issued no objections to five applicants,”
he said.
The flight of bureaucrats from the state government
follows the April-May general election that saw the Left Front’s tally
of Lok Sabha seats from West Bengal drop to 15, from 35 in 2004.
Among some civil servants in a state that has for long been a Left bastion, there’s no mistaking a sense of frustration.
“If
you work in Delhi, you can deliver because of better work culture.
Also, in Delhi, there isn’t much political interference... Here, things
don’t move,” said urban development secretary P.K. Pradhan, who is
looking to leave.
Not only are bureaucrats looking to leave
Kolkata’s Writers Buildings, the state government secretariat, even
those on deputation in New Delhi are not willing to return, according
to Haque, an officer from the 1982 batch of the Indian Administrative
Service, or IAS.
“The terms of at least two officers from
West Bengal (who were on deputation) have ended, but they don’t want to
come back,” said Haque. “There is no charm working in West Bengal. I am
a principal secretary, and head two departments. Yet, I need the
clearance of the finance department even to spend Rs500, whereas even a
joint secretary in the government of India has the power to sign an
international agreement.”
Two of those looking to
leave—environment secretary M.L. Meena and commerce and industry
secretary Sabyasachi Sen—are vying for the chairman’s post at Kolkata
Port Trust, which fell vacant after Anup Chanda’s term ended on 24 June.
The
two additional chief secretaries looking to leave the state government
are Sunil Mitra and Sumantra Choudhury, who are also principal
secretaries in the power and transport departments, respectively. Both
have obtained clearances from Writers Buildings, and are likely joining
the Union government, said Haque.
Others looking to leave are
Sumanta Chaudhuri, principal secretary in the department of public
enterprises; Rajiva Sinha, who heads the department for food processing
industries and horticulture; and M.V. Rao, former managing director of
West Bengal Industrial Development Corp. Ltd (WBIDC), who is the
principal secretary in the department for animal resources development.
Even
P.R. Baviskar, an officer from the 1985 batch who is the chief
executive of the Kolkata Metropolitan Development Authority, has
applied for two-year study leave. His leaving means the urban
development department will be losing its two most important officers,
including Pradhan.
But others tried to play down the difficulties faced by bureaucrats working in Kolkata.
“I
don’t want to add to the controversy… I have only two years to retire,”
said Mitra. “It’s a personal decision (to move to New Delhi). I was
empanelled to join the Central government a year ago.”
“I
think West Bengal offers a lot of challenges, and IAS officers are
still willing to take that challenge,” added Mitra, who is also the
president of the Indian Administrative Service Association, West Bengal.
“All
IAS officers aspire to work with the Union government,” said Sen, who
with Rao shot to the limelight thanks to the state government’s drive
for industrialization.
Rao, initially the director of
industry, was appointed managing director of WBIDC after he played a
key role in land acquisition in Singur, where Tata Motors Ltd was to
set up a small-car factory. But after the company pulled the plug on
the project, Rao was replaced.
“It’s natural for IAS officers
to move to Delhi after spending some years with a state government,”
said Chaudhuri, who heads the public enterprises department and has
been struggling to restructure state-owned companies.
“Transfers
are a routine thing,” said Meena, who has been facing criticism for
taking too long to grant clearances to industrial projects. “But people
are talking about it this time because even officers who were
considered close to the state government are looking to leave,” he
added.
Bureaucrats in Kolkata have been facing flak from politicians after the Left’s 20-seat loss in the 15th general election.
Speaking at Mint’s
Clarity Through Debate Conclave on 19 June, West Bengal’s finance
minister Asim Dasgupta said industrialists were facing “real problems
with procedural delays” in obtaining clearances from the state
government. “We have to change, no doubt about it.”
romita.d@livemint.com
http://www.livemint.com/2009/06/30002408/Bengal-faces-an-exodus-of-bure.html?h=B


  • Posted: Tue, Jul 21 2009. 10:53 PM IST




Wealth managers for rural India, anyone?


By 2015, three million villagers will be able to access wealth management services without travelling for more than 3-7km



Expense Account | Monika Halan





I
finally have to beg for food. Straight from the airport to the meeting,
the late flight does away with lunch. With a tummy that threatens to
growl out of control, I stop Nachiket Mor mid-word—not an easy task, I
assure you—to ask if there is some food in the guest house. I’m in
Chennai to look at what IFMR Trust—where Mor is chairman of the
governing council—is doing that it gets customized financial services
to the remotest Indian.
Mor pushes a Nutribar at me and a cup
of coffee, and goes right back to his presentation. Soon we are deep
into the innards of a software that matches individual profile to a set
of financial products. Key in a simple personal accident policy to the
financial life cycle of a village daily wager and see the rest of his
life’s financial chart move from red to blue, from despair to hope.
Clearly,
the man is beyond hunger, thirst, heat or cold. The guest house is
cooking without air-conditioning and only I seem to be noticing it.
When he is not looking, I quickly put on the fan. He’s in Mission Mode
India 2020. He is mentoring IFMR Trust to develop a model that is high
on responsibility and low on costs, that takes into account the unique
features of the last-mile family in product construction to develop a
system in financial services that will move the bottom of the pyramid
out of decades of status quo.
And I am in search for the holy
grail of a model that is fair to the customer, distributor and product
manufacturer. What I hear about the Kshetriya Gramin Financial Services
(KGFS) operation of the trust is intriguing. The idea is to set up a
branch network that offers a full suite of financial services,
including credit, investments and insurance, to those who are outside
the formal banking system.
While microcredit, in the
joint-lending group, or self-help group route, will first give out
credit, the idea is to leverage the relationship to sell products
designed specially to solve local problems rather than vend products
that are first designed and then sold.
In the final model,
a sophisticated software will take in the unique details of each person
that the rural wealth manager will key in and spit out a list of
products that this person can afford and must buy. The wealth manager
is an employee and not a fee-for or commission agent.
Big
deal? Well, read on. First, the entire operation is pivoted on the use
of technology, with VSAT and broadband linking each branch to the
central office. Two, each member will carry a fingerprint-using
biometric card that is fully portable across all the branches of the
KGFS network. Three, probably the most important part, KGFS takes upon
itself all responsibility of a product whose outcome is harmful to the
customer.
The argument is that just as a doctor is liable
for wrong medical advice, so also the seller of financial products
should be liable for selling a product that has a bad outcome. For
example, a daily wager pawned her gold jewellery to take a loan. She
was the sole earning member of a family of five. She died. KGFS is yet
to begin offering a life cover but as a full-service wealth manager, it
took this as its own fault for not having a life cover in place.
Says
Bindu Ananth, president of IFMR Trust: “We returned the gold, not out
of a sense of pity, but out of a sense of responsibility.”
An
overnight train journey later, Ananth and I are in bustling Thanjavur,
the headquarters for the first roll-out of this plan. An hour into the
rice-bowl hinterland and we are at the first branch at Karambayam that
is just over a year old.
A group of women, who are on their
second cycle of taking a joint loan, drop by to make the EWI (equated
weekly instalment). The cows they bought last year with a loan from
KGFS are now an asset and they are here for more. They nudge Ananth
into offering the gold coin-linked saving product in a different way.
While
we are chatting, a man cycles up. Very matter-of-factly, he buys a Rs1
lakh personal accident cover for Rs40. His wife has been a borrower
with this branch and he feels confident enough to make this financial
transaction that I see my urban friends sweating over.
Two
other projects—one in Uttrakhand and another in Orissa—are off the
ground as well. By 2015, three million villagers will be able to access
wealth management services without travelling for more than 3-7km. The
full commercial roll-out of the experiment is still to happen. But if
it does, this will be fairly inspirational to many others in the
financial services space who are trying to move the agent up the value
chain to provide real service.
Imagine dealing with a
wealth manager who does not earn commissions or fees and will be liable
for a wrong sale if you have a bad outcome when you buy a product he
recommends. Quite path breaking.
And yes, I do finally manage
to eat. Dinner at the local tiffin place called Sangeetha.
Incidentally, its breakfast of idlis and coffee can give Shakthi Mess,
a tiny food-is-serious-business thatched-roofed lunch kitchen in
Pattukotai in Thanjavur district, tough competition. Both redefine
South Indian food for me. Or maybe that Nutribar has put food in
perspective.
Monika Halan is a certified financial planner
and is currently working as adviser, Pension Fund Regulatory and
Development Authority. Your comments and personal finance queries are
welcome at expenseaccount@livemint.com
http://www.livemint.com/2009/07/21225307/Wealth-managers-for-rural-Indi.html


A rural retailer’s green shoots


While
organized retail chains in urban India are shutting stores and scaling
down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural
stores to its existing chain of 300 in two years


Rasul Bailay


New Delhi

Karan Vir
comes calling the agronomist—or agricultural specialist—at the Hariyali
Kisaan Bazaar store with a yellowing paddy plant (plucked out from his
field), its roots covered in sand, in a small plastic bag.
Click here to watch video
It
doesn’t take the specialist long to discover the problem. He advises
Vir to add sulphur to the soil to counter excess salt being generated
by the use of groundwater for irrigation. The 34-year-old farmer buys a
15kg bag of the chemical, but his attention is now captured by a shiny
black Hero bicycle kept on display along with hundreds of other grocery
and lifestyle products.
On average, 300 villagers such as
Vir, daily visit the Hariyali store in this village, about 35km east of
Karnal, an agricultural town in Haryana. Most visit to seek advice on
agricultural problems and buy farm products. And about 30% of them end
up buying other products. Some buy sugar. Some buy shirts. The store
manager says sales are up 40% compared with last year.
In demand: (top and above) The Hariyali store in Ladwa. On average, 300 villagers visit the store daily. Ramesh Pathania / Mint
In demand: (top and above) The Hariyali store in Ladwa. On average, 300 villagers visit the store daily. Ramesh Pathania / Mint
While
sales have shrunk over the last one year or so for almost all the
so-called modern retail chains in urban areas on the back of an
economic slowdown that affected consumer spending, rural India has
witnessed swelling sales of everything from mobile phones to
motorcycles.
Hariyali currently operates a network of 300
stores in eight states and plans to increase the number of outlets to
500 over the next two years.
That number is significant
because of the corresponding numbers for modern retail chains in urban
India. The country’s largest discount-store operator, Subhiksha Trading
Services Ltd, shuttered its nationwide network of 1,600 stores amid
severe cash crunch. The country’s largest listed retailer Pantaloon
Retail (India) Ltd has seen its same-store sales at home segment
retailing decline over the last six months and chains run by Aditya
Birla Retail Ltd, Reliance Retail Ltd, Spencer’s Retail Ltd have shrunk
as the companies closed stores and trimmed their expansion plans.
A booming market
A
thriving agricultural economy and high food prices—resulting in farmers
earning more for their produce—helped the rural economy thrive even as
that in large cities and towns slowed.
Rural families spent
around 63% of their expenditure on food 15 years ago; this proportion
declined to 53% in 2005-06, according to the National Sample Survey
Organisation. Companies cite anecdotal evidence to claim that this
proportion has declined further in the three years since.
http://www.livemint.com/2009/07/21225400/A-rural-retailer8217s-green.html













11:3PM | July 21,2009

While
organized retail chains in urban India are shutting stores and scaling
down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural
stores...  






11:18PM | July 21,2009

Gross bad debt rose to Rs43,680 crore, from Rs39,750 crore a year earlier, minister of state for finance Namo Narain Meena said


























03:35 PM | July 21,2009

Finance
ministry said the disinvestment programme will kick off with the
dilution of government equity in listed entities, where public holding
is less




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The
government believes the listing of BSNL would help improve the
company’s image and promote its growth; BSNL’s net profit has hit a low
of Rs104 crore




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European Union accounts for 36% of the total exports by India, US 16-17% and Japan 15-16%















10:22 AM | July 22,2009

According
to Kerry the region that has till today faced the problem of IDPs, will
now face a growing problem of environmentally displaced people




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The
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the labourer was hit by a girder which was being lifted




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India and US have agreed on improved technological cooperation, especially on clean technology















11:3 PM | July 21,2009

While
organized retail chains in urban India are shutting stores and scaling
down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural
stores to its existing chain of 300 in two years




03:29 PM | July 21,2009

The
average temperature across the region has risen by five degree celsius
affecting agriculture and daily activities of the people




01:15 AM | July 21,2009

At
least 20 universities and research organizations in India will
collaborate to identify genes in plants that may be combined to produce
zinc-enhanced rice















11:37 PM | July 20,2009

Once
it is passed by both Houses of Parliament, all schools would have to
reserve at least 25% of their seats for children from the specified
sections




04:34 PM | July 20,2009

The
government-appointed committee on Renovation and Rejuvenation of Higher
Education, headed by Prof. Yashpal, has suggested setting up of NCHER
as an overarching agency




12:34 AM | July 20,2009

The
platform is being envisioned as a place for entrepreneurs to seek
guidance for strategic decisions like raising finance, assessing market
potential, business risks or embracing business model















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Cloudy
weather played a spoilsport in parts of Gujarat, Maharashtra, Madhya
Pradesh; 90% visibility in other places like Lucknow, Kolkata




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The
downgrade primarily reflects the delay in IDFC’s capital-raising due to
which the institution’s capitalization is likely to remain short of
Crisil’s earlier expectations




12:14 PM | July 22,2009

Listen
to a ground report from Taregna in Bihar, watch a video exploring the
growth explosion of retail stores in rural India and see how the
removal of entry and exit loads will impact asset management companies
and distributors















08:54 PM | July 21,2009

With the Shipping Corp contract, the yard now has orders for 20 ships worth an estimated Rs5,000 cr




06:15 PM | July 21,2009

Union
minister for road transport and highways Kamal Nath said monitoring is
on at all levels and unscrupulous contractors would be taken to task




03:20 PM | July 21,2009

Healthcare infrastructure includes buildings, equipment, ambulances






http://www.livemint.com/SectionPages/Economy-Politics.aspx?NavId=11

SCHEDULE-WISE LIST OF PUBLIC
SECTOR UNDERTAKINGS.



List of 'A' Schedule PSUs



  1. Air India Ltd.
  2. Airports Authority of India
  3. Bharat Bhari Udyog Nigam Ltd.
  4. Bharat Earth Movers Ltd.
  5. Bharat Electronics Ltd.
  6. Bharat Heavy Electricals Ltd.
  7. Bharat Petroleum Corporation Ltd.
  8. Bharat Sanchar Nigam Ltd.
  9. Bharat Yantra Nigam Ltd.
  10. Coal India Ltd.
  11. Container Corporation of India Ltd.
  12. Electronics Corporation of India Ltd.
  13. Engineers India Ltd.
  14. Fertilizers & Chemicals (Travancore) Ltd.
  15. Food Corporation of India
  16. Gas Authority of India Ltd.
  17. Heavy Engineering Corporation Ltd.
  18. Hindustan Aeronautics Ltd.
  19. Hindustan Copper Ltd.
  20. Hindustan Petroleum Corporation Ltd.
  21. Hindustan Zinc Ltd.
  22. HMT Ltd.
  23. Housing & Urban Development Corporation Ltd.
  24. I T I Ltd.
  25. Indian Airlines Ltd.
  26. Indian Oil Corporation Ltd.
  27. IRCON International Ltd.
  28. Konkan Railway Corporation Ltd.
  29. Kudremukh Iron Ore Company Ltd.
  30. M M T C Ltd.
  31. Mahanagar Telephone Nigam Ltd.
  32. Mazagon Dock Ltd.
  33. Metallurgical & Engineering Consultants (India) Ltd.
  34. Mumbai Rail Vikas Corporation Ltd.
  35. National Aluminium Company Ltd.
  36. National Fertilizers Ltd.
  37. National Hydroelectric Power Corporation Ltd.
  38. National Mineral Development Corporation Ltd.
  39. National Textile Corporation Ltd.
  40. National Thermal Power Corporation Ltd.
  41. Neyveli Lignite Corporation Ltd.
  42. Oil & Natural Gas Corporation Ltd.
  43. Power Finance Corporation
  44. Power Grid Corporation of India Ltd.
  45. RailTel Corporation of India Ltd.
  46. Rashtriya Chemicals and Fertilizers Ltd.
  47. Rashtriya Ispat Nigam Ltd.
  48. Rural Electrification Corporation Ltd.
  49. Shipping Corporation of India Ltd.
  50. State Trading Corporation of India Ltd.
  51. Steel Authority of India Ltd.
  52. Telecommunications Consultants (India) Ltd.


 List of 'B' Schedule PSUs



  1. Andrew Yule & Company Ltd.
  2. Balmer Lawrie & Company Ltd.
  3. Bharat Coking Coal Ltd.
  4. Bharat Dynamics Ltd.
  5. Bharat Heavy Plate & Vessels Ltd.
  6. Bharat Pumps & Compressors Ltd.
  7. Bongaigaon Refinery & Petrochemicals Ltd.
  8. Braithwaite & Company Ltd.
  9. Braithwaite, Burn & Jessop Construction Ltd.
  10. British India Corporation Ltd.
  11. Burn Standard Company Ltd.
  12. Cement Corporation of India Ltd.
  13. Central Coalfields Ltd.
  14. Central Electronics Ltd.
  15. Central Mine Planning & Design Institute Ltd.
  16. Central Warehousing Corporation Ltd.
  17. Chennai Petroleum Corporation Ltd.
  18. Cochin Shipyard Ltd.
  19. Cotton Corporation of India Ltd.
  20. Dredging Corporation of India Ltd.
  21. Eastern Coalfields Ltd.
  22. Engineering Projects (India) Ltd.
  23. Ennore Port Ltd.
  24. Fertilizer Corporation of India Ltd.
  25. Garden Reach Shipbuilders & Engineers Ltd.
  26. Goa Shipyard Ltd.
  27. Handicrafts & Handlooms Export Corporation Ltd.
  28. Hindustan Cables Ltd.
  29. Hindustan Fertilizer Corporation Ltd.
  30. Hindustan Organic Chemicals Ltd.
  31. Hindustan Paper Corporation Ltd.
  32. Hindustan Shipyard Ltd.
  33. Hindustan Steelworks Construction Company Ltd.
  34. Hindustan Vegetable Oils Corporation Ltd.
  35. HMT (I) Ltd.
  36. HMT (MT) Ltd.
  37. HMT (Watches) Ltd.
  38. India Tourism Development Corporation Ltd.
  39. India Trade Promotion Organisation
  40. Indian Drugs & Pharmaceuticals Ltd.
  41. Indian Iron & Steel Company Ltd.
  42. Indian Oil Blending Company Ltd.
  43. Indian Railway Catering & Tourism Corporation Ltd.
  44. Indian Railway Finance Corporation Ltd.
  45. Indian Rare Earths Ltd.
  46. Instrumentation Ltd.
  47. Jessop & Company Ltd.
  48. Kochi Refineries Ltd.
  49. Madras Fertilizers Ltd.
  50. Mahanadi Coalfields Ltd.
  51. Manganese Ore (India) Ltd
  52. Mineral Exploration Corporation Ltd.
  53. Mining & Allied Machinery Corporation Ltd.
  54. Mishra Dhatu Nigam Ltd.
  55. Nathpa Jhakri Power Corporation Ltd.
  56. National Building Construction Corporation Ltd.
  57. National Jute Manufacturers Corporation Ltd.
  58. National Projects Construction Corporation Ltd.
  59. National Small Industries Corporation Ltd.
  60. North Eastern Electric Power Corporation Ltd.
  61. Northern Coalfields Ltd.
  62. NTC (Andhra Pradesh, Karnataka, Kerala & Mahe) Ltd.
  63. NTC (Delhi, Punjab & Rajasthan) Ltd.
  64. NTC (Gujarat) Ltd.
  65. NTC (Madhya Pradesh) Ltd.
  66. NTC (Maharashtra North) Ltd.
  67. NTC (South Maharashtra) Ltd.
  68. NTC (Tamilnadu & Pondicherry) Ltd.
  69. NTC (Uttar Pradesh) Ltd.
  70. NTC (West Bengal, Assam, Bihar & Orissa) Ltd.
  71. Oil India Ltd.
  72. ONGC Videsh Ltd.
  73. P E C Ltd.
  74. Pawan Hans Helicopters Ltd.
  75. Projects & Development India Ltd.
  76. RITES Ltd.
  77. Scooters India Ltd.
  78. Semi-Conductor Complex Ltd.
  79. South Eastern Coalfields Ltd.
  80. Tehri Hydro Development Corporation Ltd.
  81. Tyre Corporation of India Ltd.
  82. Uranium Corporation of India Ltd.
  83. Western Coalfields Ltd.


List of 'C' Schedule PSUs



  1. Airlines Allied Services Ltd.
  2. Andaman & Nicobar Islands Forest & Plantation
    Development Corporation Ltd.
  3. Artificial Limbs Mfg. Corporation of India
  4. Bengal Chemicals & Pharmaceuticals Ltd.
  5. Bengal Immunity Ltd.
  6. Bharat Brakes & Valves Ltd.
  7. Bharat Gold Mines Ltd.
  8. Bharat Leather Corporation Ltd.
  9. Bharat Ophthalmic Glass Ltd.
  10. Bharat Process & Mechanical Engineers Ltd.
  11. Bharat Refractories Ltd.
  12. Bharat Wagon & Engineering Company Ltd.
  13. Biecco Lawrie Ltd.
  14. Bridge & Roof Company (India) Ltd.
  15. Broadcast Engineering Consultants India Ltd.
  16. Central Cottage Industries Corporation of India Ltd.
  17. Central Inland Water Transport Corporation Ltd.
  18. Chinar Watches Ltd.
  19. Cycle Corporation of India Ltd.
  20. Educational Consultants (India) Ltd.
  21. Electronics Trade & Technology Development Corporation
    Ltd.
  22. Ferro Scrap Nigam Ltd.
  23. Hindustan Antibiotics Ltd.
  24. Hindustan Insecticides Ltd.
  25. Hindustan Latex Ltd.
  26. Hindustan Newsprint Ltd.
  27. Hindustan Photo Films Manufacturing Corporation Ltd.
  28. Hindustan Salts Ltd.
  29. HMT (Bearings) Ltd.
  30. Hooghly Dock and Port Engineers Ltd.
  31. Hotel Corporation of India Ltd.
  32. Indian Renewable Energy Development Agency Ltd.
  33. Jute Corporation of India Ltd.
  34. Lagan Jute Machinery Company Ltd.
  35. M S T C Ltd.
  36. Mandya National Paper Mills Ltd.
  37. Nagaland Pulp & Paper Company Ltd.
  38. National Backward Classes Finance & Development
    Corporation.
  39. National Bicycle Corporation of India Ltd.
  40. National Film Development Corporation Ltd.
  41. National Handicapped Finance & Development Corporation.
  42. National Handlooms Development Corporation Ltd.
  43. National Industrial Development Corporation Ltd.
  44. National Instruments Ltd.
  45. National Minorities Development & Finance Corporation
  46. National Research Development Corporation of India.
  47. National Safai Karamcharis Finance & Development
    Corporation.
  48. National SC Finance & Development Corporation
  49. National ST Finance & Development Corporation
  50. National Seeds Corporation Ltd.
  51. NEPA Ltd.
  52. North Eastern Handicrafts & Handloom Development
    Corporation Ltd.
  53. North Eastern Regional Agricultural Marketing Corporation
    Ltd.
  54. Praga Tools Ltd.
  55. Pyrites, Phosphates & Chemicals Ltd.
  56. Richardson & Cruddas (1972) Ltd.
  57. Smith Stanistreet Pharmaceuticals Ltd.
  58. Sponge Iron India Ltd.
  59. State Farms Corporation of India Ltd.
  60. Tannery & Footwear Corporation of India Ltd.
  61. Tea Trading Corporation of India Ltd.
  62. Triveni Structurals Ltd.
  63. Tungabhadra Steel Products Ltd.
  64. Water & Power Consultancy Services (India) Ltd.


List of 'D' Schedule PSUs



  1. Hindustan Fluorocarbons Limited
  2. Hindustan Prefab Ltd.
  3. Indian Medicines Pharmaceutical Corporation Ltd.
  4. Karnataka Antibiotics & Pharmaceuticals Ltd.
  5. Maharashtra Antibiotics & Pharmaceuticals Ltd.
  6. Orissa Drugs & Chemicals Ltd.
  7. Rajasthan Drugs & Pharmaceuticals Ltd.
  8. Rehabilitation Industries Corporation Ltd.
  9. Southern Pesticides Corporation Ltd.
  10. Spices Trading Corporation Ltd.
  11. U.P. Drugs & Pharmaceuticals Ltd.






Others - Uncategorised list of 32 companies



  1. Air India Charters Ltd.
  2. Antrix Corporation Ltd.
  3. Assam Ashok Hotel Corpn. Ltd.
  4. Baton Rouge Internatinal, Inc
  5. Bharat Immunological & Biologicals Corp. Ltd.
  6. Bhilai Oxygen Ltd.
  7. Bihar Drugs & Organic Chemicals Ltd.
  8. Birds, Jute & Exports Ltd.
  9. Brushware Ltd.
  10. Cawnpore Textiles Ltd.
  11. Donyi Polo Ashok Hotel Ltd.
  12. Elgin Mills Company Ltd.
  13. Export Credit Guarantee Corpn. of India Ltd.
  14. Hooghly Printing Company Ltd.
  15. Hospital Services Consultancy Corp. (India) Ltd.
  16. IDPL (Tamilnadu) Ltd.
  17. Indo Hokke Hotels Ltd.
  18. J & K Mineral Development Corporation Ltd.
  19. Madhya Pradesh Ashok Hotel Corpn. Ltd.
  20. Maharashtra Elektrosmelt Ltd.
  21. Manipur State Drugs & Pharmaceutical Ltd
  22. Nuclear Power Corpn. of India Ltd.
  23. Pondicherry Ashok Hotel Corpn. Ltd.
  24. Punjab Ashok Hotel Company Ltd.
  25. R B L Ltd.
  26. Rajasthan Electronics and Instruments Ltd.
  27. Ranchi Ashok Bihar Hotel Corpn. Ltd.
  28. Sail Power Supply Company Ltd.
  29. Sambhar Salts Ltd.
  30. Utkal Ashok Hotel Corpn. Ltd.
  31. Vignyan Industries Ltd.
  32. Weighbird (India) Ltd.

List of Public Sector Undertakings in India



From Wikipedia, the free encyclopedia



Jump to: navigation, search







The List of Public Sector Undertakings in India details all centrally owned Public Sector Undertaking (PSU) in India [1]
























































































































































































































































































































































































































































































































































































































































































































































































































































































Name of PSU  ↓Industry  ↓Headquarters  ↓
Air India Air Transport Services LimitedTransportNew Delhi
Air India Charters LimitedTransportMumbai
Air India LimitedTransportNew Delhi
Airline Allied Services LimitedTransportNew Delhi
Airports Authority Of India LimitedTransportNew Delhi
Andaman & Nicobar Islands Forest and Plantation Development Corporation LimitedForestryPort Blair
Andrew Yule & Company LimitedHeavy Industry, EngineeringKolkota
Antrix Corporation LimitedSpace, CommunicationBangalore
Artificial Limbs Manufacturing Corporation of IndiaManufacturing, RehabilitationKanpur
Assam Ashok Hotel Corporation LimitedTourismNew Delhi
Balmer Lawrie & Company LimitedManufacturingKolkota
Balmer Lawrie Investments LimitedFinancingKolkota
Braithwaite, Burn & Jessop Construction Company LimitedConstructionKolkota
BEL Optronic Devices LimitedResearch and Development, ElectronicsPune
Bengal Chemicals & Pharmaceuticals LimitedPharmaceuticalsKolkota
Bharat Bhari Udyog Nigam LimitedConstruction, FinanceKolkota
Bharat Coking Coal LimitedMiningDhanbad
Bharat Dynamics LimitedManufacturing, DefenseHyderabad
Bharat Earth Movers LimitedMining, TransportationBangalore
Bharat Electronics LimitedDefence, ElectronicsBangalore
Bharat Heavy Electricals LimitedManufacturingNew Delhi
Bharat Heavy Plate & Vessels LimitedManufacturing, Oil and GasVisakhapatnam
Bharat Immunologicals and Biologicals Corporation LimitedPharmaceuticalsBulandshahar
Bharat Petroleum Corpn. LimitedPetroleumMumbai
Bharat Pumps & Compressors LimitedManufacturingAllahabad
Bharat Refractories LimitedManufacturingNew Delhi
Bharat Sanchar Nigam LimitedCommunicationsNew Delhi
Bharat Wagon and Engineering LimitedManufacturingPatna
Bharat Yantra Nigam LimitedManufacturing, FinancingAllahabad
Biecco Lawrie LimitedPetroleum, ManufacturingKolkota
Birds Jute and Exports LimitedTextiles, ManufacturingKolkota
Bongaigaon Refinery and Petrochemicals LimitedOil and gas, RefineryBongaigaon
Brahmaputra Valley Fertilizer Corporation LimitedFertilizer, ManufacturingDibrugarh
Braithwaite and Company LimitedManufacturing, RailwaysKolkota
Bridge an Roof Company (India) LimitedConstructionKolkota
British India Corporation LimitedTextiles, ManufacturingKanpur
Broadcast Engineering Consultants India LimitedCommunicationsNew Delhi
Burn Standard Company LimitedConstruction, EngineeringKolkota
Cement Corpn. Of India Limited
Central Coalfields LimitedMiningRanchi
Central Cottage Industries Corpn. Of India Limited
Central Electronics Limited
Central Inland Water Transport Corpn. Limited
Central Mine Planning & Design Institute Limited
Central Warehousing Corpn.
Certification Engineers International Limited
Chennai Petroleum Corporation Limited
Coal India LimitedMiningKolkota
Cochin Shipyard LimitedMarine EngineeringKochi
Container Corporation Of India Limited
Cotton Corpn. Of India Limited
Donyi Polo Ashok Hotel Limited
Dredging Corpn.Of India Limited
Eastern Coalfields LimitedMiningAsansol
Educational Consultants ( India ) Limited
Electronics Corpn. Of India Limited
Engineering Projects (India) Limited
Engineers India Limited
Ennore Port LimitedPortChennai
Export Credit Guarantee Corpn.Of India Limited
Fci Aravali Gypsum & Minerals (India) Limited
Ferro Scrap Nigam Limited
Fertilizer Corpn. Of India Limited
Fertilizers & Chemicals (Travancore) Limited
Food Corporation of IndiaWholesale, Agricultural productsNew Delhi
Gail (India) LimitedNaturl GasNew Delhi
Garden Reach Shipbuilders & Engineers Limited
Goa Shipyard LimitedDefence, ManufacturingVasco da Gama, Goa
Handicrafts & Handloom Exports Corp. Of India Limited
Heavy Engineering Corpn. Limited
Hindustan Aeronautics LimitedDefence, ManufacturingBangalore
Hindustan Antibiotics Limited
Hindustan Cables Limited
Hindustan Copper Limited
Hindustan Fertilizer Corpn. Limited
Hindustan Fluorocarbons Limited
Hindustan Insecticides Limited
Hindustan Latex Limited
Hindustan Newsprint Limited
Hindustan Organic Chemicals Limited
Hindustan Paper Corporation Limited
Hindustan Petroleum Corpn. LimitedPetroleumMumbai
Hindustan Photo Films Manufacturing Co. Limited
Hindustan Prefab Limited
Hindustan Salts Limited
Hindustan Shipyard LimitedManufacturingVisakhapatnam
Hindustan Steel Works Costn. Limited
Hindustan Vegetable Oils Corpn. Limited
Hmt (International) LimitedEngineeringBangalore
Hmt Bearings LimitedManufacturingBangalore
Hmt Chinar Watches LimitedManufacturingBangalore
Hmt LimitedManufacturingBangalore
Hmt Machine Tools LimitedManufacturingBangalore
Hmt Watches LimitedEngineeringBangalore
Hooghly Dock And Port Engineers Limited
Hooghly Printing Company Limited
Hotel Corpn. Of India Limited
Housing and Urban Development Corporation LimitedUrban developmentNew Delhi
Hscc (India) Limited
ITI LimitedCommunicationsBangalore
IBP Company LimitedPetroleumKolkota
Idpl (Tamilnadu) Limited
India Tourism Dev. Corpn.Limited
India Trade Promotion OrganisationTradeNew Delhi
Indian Airlines LimitedTransportNew Delhi
Indian Drugs & Pharmaceuticals Limited
Indian Medicines & Pharmaceutical Corpn. Limited
Indian Oil CorporationIndian Oil Corporation LimitedPetroleumNew Delhi
Indian Oil Technologies Limited ManufacturingFaridabad
Indian Railway Catering And Tourism Corpn. Limited
Indian Railway Finance Corporation LimitedFinanceNew Delhi
Indian Rare Earths LimitedMiningMumbai
Indian Renewable Energy Devt.Agency Limited
Instrumentation Limited
Ircon International Limited
J & K Mineral Development Corpn. Limited
Jute Corpn. Of India Limited
Karnataka Antibiotics & Pharmaceuticals Limited
Karnataka Trade Promotion Organisation
Konkan Railway Corporation LimitedTransportNavi Mumbai
Kudremukh Iron Ore Co.Ltd
Kumarakuppa Frontier Hotels Limited
[M M T C Limited]MMTC Limited
M S T C Limited
Madhya Pradesh Ashok Hotel Corpn. Limited
Madras Fertilizers Limited
Mahanadi Coalfieldls LimitedMiningSambalpur
Mahanagar Telephone Nigam LimitedCommunicationNew Delhi
Maharashtra Elektrosmelt Limited
Mangalore Refinary & Petrochemicals LimitedRefinery, PetrochemicalsMangalore
Manganese Ore(India) Limited
Mazagon Dock LimitedDefence, ManufacturingMumbai
Mecon Limited
Millennium Telecom Limited
Mineral Exploration Corpn. Limited
Mishra Dhatu Nigam Limited
Mumbai Railway Vikas Corporation LimitedTransportMumbai
Nagaland Pulp & Paper Company Limited
Narmada Hydroelectric Development Corpn. Limited
National Aluminium Company LimitedBhubaneswar
National Backward Classes Finance & Development Corp.
National Bldg. Constn. Corpn. Limited
National Fertilizers LimitedAgricultureNOIDA
National Film Dev. Corpn. LimitedEntertainmentMumbai
National Handicapped Finance & Devpt. Corpn.
National Handloom Development Corporation Limited
National Hydroelectric Power Corpn.Limited
National Informatics Center Services Incorporated.
National Instruments Limited
National Jute Manufacturers Corporation Limited
National Mineral Development Corpn. LimitedMiningNew Delhi
National Minorities Devp. & Finance Corpn.
National Projects Construction Corpn. Limited
National Research Devp. Corpn.
National Safai Karamcharis' Finance & Devpt. Corpn.
National Scheduled Castes Finance & Devp. Corpn.
National Scheduled Tribes Finance & Devp. Corpn.
National Seeds Corpn. Limited
National Small Industries Corpn. Limited
National Textile Corpn. (Holding Co.) Limited
Nepa Limited
Neyveli Lignite Corporation LimitedMining, EnergyNeyveli
North Eastern Handicrafts & Handloom Dev.Corpn. Limited
North Eastern Electric Power Corporation Limited
North Eastern Regional Agri. Marketing Corp.Limited
Northern Coalfields LimitedMiningSingrauli
Ntc(A.Pradesh, Karnataka, Kerala & Mahe)Limited
Ntc(Delhi,Punjab & Rajasthan) Limited
Ntc(Gujarat)Limited
Ntc(Madhya Pradesh)Limited
Ntc(Maharashtra North)Limited
Ntc(South Maharashtra)Limited
Ntc(Tamilnadu & Pondicherry) Limited
Ntc(Uttar Pradesh)Limited
Ntc(West Bengal,Assam,Bihar & Orissa)Limited
Ntpc Electric Supply Company LimitedEnergyNew Delhi
Ntpc LimitedEnergyNew Delhi
Ntpc Vidyut Vyapar Nigam LimitedEnergyNew Delhi
Nuclear Power Corpn. Of India LimitedEnergyMumbai
Numaligarh Refinary Limited
Oil & Natural Gas Corporation LimitedPetroleumDehradun
Oil India LimitedPetroleumNOIDA
Ongc Videsh LimitedPetroleumDehradun
Orissa Drugs & Chemicals Limited
PEC Limited
Pawan Hans Helicopters LimitedManufacturingNew Delhi
Pondicherry Ashok Hotel Corpn. Limited
Power Finance Corporation
Power Grid Corporation Of India LimitedPower transmissionNew Delhi
Praga Tools Limited
Projects & Development India LimitedEngineeringNOIDA
Pyrites, Phosphates & Chemicals Limited
Railtel Corporation India LimitedTransportNew Delhi
Rajasthan Drugs & Pharmaceuticals Limited
Rajasthan Electronics And Instruments Limited
Ranchi Ashok Bihar Hotel Corpn. Limited
Rashtriya Chemicals And Fertilizers Limited
Rashtriya Ispat Nigam Limited
Richardson & Cruddas(1972) Limited
Rites LimitedTransportGurgaon
Rural Electrification Corpn. Limited
Sambhar Salts Limited
Satluj Jal Vidyut Nigam Limited
Scooters India Limited
Semi-Conductor Complex Limited
Shipping Corporation Of India LimitedTransport, LogisticsMumbai
South Eastern Coalfields LimitedMiningBilaspur
Sponge Iron India Limited
State Farms Corporation of India Limited
State Trading Corpn. Of India Limited
Stcl Limited
Steel Authority of India LimitedManufacturingNew Delhi
Tamil Nadu Trade Promotion Organisation
Telecommunications Consultants (India) Limited
Triveni Structurals Limited
Tungabhadra Steel Products Limited
Tyre Corporation of India Limited
Uranium Corporation of India Limited
Utkal Ashok Hotel Corpn. Limited
Vignyan Industries Limited
Water & Power Consultancy Services(India) Limited
Western Coalfields LimitedMiningNagpur


[edit] References


  1. ^ List of Central Govt. Enterprises under different cognate groups. Department of Public Enterprises. Government of India. June 2005


[edit] External links










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