CEA K V Subramanian said the disinvestment target of Rs 1.75 lakh crore for 2021-22 is actually a carryover of the Rs 2.10 lakh crore target set for the fiscal ending March 31, 2021. \"Of this, BPCL privatisation and LIC listing itself were important contributors,\" he added

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey stated that the Centre offloaded its stake in Tata Communications in two tranches

As on March 9, 2021, govt received Rs 21,303 crore from disinvestment proceeds, amounting to 66.6% of the revised estimate for FY21.

Amid a pandemic year, India had to revise downwards (by 84.8%) its disinvestment target for FY21 from Rs 2.1 lakh crore to Rs 32,000 crore.

The approval will benefit the government exchequer in reducing recurring expenditure on salary and wages of the sick CPSE which is not in operation and earning no income.

Disinvestment receipts exceeded the target during 2016-17, 2017-18 and 2018-19, while falling short in 2014-15 and 2019-20, Minister of State for Finance Anurag Thakur told Lok Sabha

There were rumours earlier that Adani and Hinduja groups were planning to participate in the Air India bids. The government plans to wrap up the disinvestment process in the second half of 2021

The list submitted by the government's policy think tank includes PSUs in strategic sectors and will be reviewed by the Department of Investment and Public Asset Management (DIPAM), and the Core Group of Secretaries on Divestment (CGD), headed by the cabinet secretary

\"Lower inflation has increased the real purchasing power of the people leaving more money in their hands to spend,\" says Finance Minister Nirmala Sitharaman

Of the total 215.41 crore votes polled, 215.32 crore, or 99.958 per cent, were in favour of the resolution, Tata Motors said.

With the stake sale, management control of BEML will also be transferred to the successful bidder. The deadline for submission of EoI was March 1, which was later extended to March 22.

Share of BEML zoomed 19.03% to a fresh high of Rs 1,394.95 against previous close of Rs 1,171.90 on BSE

Shipping Corporation of India stock touched a fresh high of Rs 123.55, rising 19.14% against previous close of Rs 103.75 on BSE

Stocks to watch today on March 1: RIL, DLF, United Spirits, Indian Oil, Axis Bank, Affle among others are the top stocks to watch out for in Monday's trading session

Stock Market Updates Today: Sectorally, all the indices were rising, with 1.8% rise in media, financial services, PSU Bank and private banking indices.

While acknowledging the upside of privatisation, the industry called for an effective implementation of road map towards privatisation and asset monetisation, cautioning that regulatory and legal hurdles should not derail the process

Accepting that the government has missed its disinvestment target over the last few years, Sitharaman said pandemic affected its plans in FY20, while a slowing economy and lack of appetite hit in FY19.

The government will monetise about 100 assets in sectors like oil, ports, airports, power, among others, and it is expected that this will create investments of about Rs 2.5 lakh crore, Modi said.

While DIPAM targets to complete the stake sale by June, the government may have to relax the time period for bidders to complete due diligence.

Indian shipping companies are subject to 5 per cent GST if an overseas consignor appoints them for import cargo transportation but if the consignor appoints a foreign shipping line for the same service, GST is not applicable as the shipping company is not registered in India