The Comptroller and Auditor General (CAG) has said government-owned firms in Gujarat granted "undue benefit" to big industrial houses, which resulted in revenue losses worth crores of rupees to the state exchequer. The CAG report, for the year ended March 31, 2012, was tabled on Tuesday in the Gujarat State Assembly. ...
11:04 PM, Apr 02, 2013
New Delhi: Faced with difficult government finances, Prime Minister Manmohan Singh on Tuesday asked cash-rich 25 central PSUs to invest their surplus fund of Rs 2.5 lakh crore to reignite economic growth. In a meeting convened by the Prime Minister and also attended by Finance Minister P Chidambaram, the top PSUs were given a stern message that they either invest their huge surplus or pay it back as special dividend...
09:45 PM, Oct 23, 2012
New Delhi: Amid the government's push to reforms, Prime Minister Manmohan Singh will meet the chiefs of PSUs tomorrow to discuss ways to push economic growth through enhanced investments, besides providing them greater autonomy and empowerment. The meeting, to be attended by 25 heads of companies, mostly Maharatnas and Navratnas, will be the first interaction of the Prime Minister collectively with captains of public sector undertakings (PSUs) whose turnover has...
09:59 AM, Oct 23, 2012
New Delhi: Defence Minister AK Antony on Friday called for reducing India's over-dependence on defence imports and bolstering research and development capabilities. Speaking to officials of Ordnance Factory Board (OFB) and defence public sector undertakings (DPSUs), Antony asked them to make sincere and sustained efforts to reduce the dependence on imports to the maximum extent possible. "While in the era of globalisation, it is not possible to completely do away...
12:58 PM, Oct 06, 2012
Chennai: The 180 days maternity leave, which is now applicable to the women employees of the State government has been extended to the women employees of the Public Sector Undertakings and Statutory Boards of the State government too. This is applicable wherever their Service Rules provide for sanction of maternity leave similar to that of government employees. A G.O in this regard was issued on July 12. On assuming the...
12:19 PM, Jul 14, 2012
New Delhi: The Cabinet has allowed state-run companies to buy back shares and participate in the government's divestment programme. "The Cabinet Committee on Economic Affairs has approved the buy back proposal," Minister of Heavy Industries Praful Patel said. The government is far short of meeting its target of raising Rs 40,000 crore through stake sales in the current fiscal year ending in March. Sources say only PSU with surplus cash...
12:27 PM, Mar 01, 2012
New Delhi: The sorry state of the recruitment process for PSU bosses is out in the open as CNN-IBN has accessed a copy of a secret Finance Ministry note that shows that a possible contender for the post of National Mineral Development Corporation (NMDC) chairman is being probed in a corruption case. NMDC, one of the richest public sector undertaking units of the country, has now become the subject of...
09:59 AM, Jan 19, 2012
Mumbai: What a year it has been for the Indian banking sector, and the road ahead too doesn't seem to be very smooth. Every macro economic indicator got worse, perhaps worse than we have ever seen it except the six months post Lehman. Inflation has been above 9 per cent for all the months of 2011 and GDP too, for the first time in 11 quarters, dipped below the 7...
10:59 AM, Jan 02, 2012
Patna: Fourteen working Public Sector Units in Bihar are in bad shape and have incurred an aggregate loss of Rs 1187.37 crore, according to a CAG report for the year ended March 31, 2010. The CAG report pointed out that the state had 65 PSUs as on March 31, 2010, including 61 companies and four statutory corporations as against 63 PSUs comprising 59 companies and four statutory corporations on March...
04:03 PM, Jul 20, 2011
New Delhi: State-owned oil firms may hike petrol price by about Rs 0.50 per litre from June 16 as last month's steep increase in rates is not enough to cover the cost of raw material (crude oil). "If there are no (political) pressure, we would like to hike petrol price from midnight of June 15 and 16," a top official of Indian Oil Corp (IOC), the nation's largest fuel retailer,...
05:48 PM, Jun 08, 2011
Flavio Ricotti, 49, was arrested on February 14 in Frankfurt, Germany, and arrived in the US on July 2, 2010. ...
11:30 AM, Jul 08, 2010
Officials of major Indian PSUs appear to be beneficiaries of bribes given by a California-based valve company. ...
08:53 AM, Jul 08, 2010
As employees continued their strike for the third consecutive day. ...
08:58 AM, Apr 06, 2010
Petroleum Minister Murli Deora sends forecast to Parliament committee. ...
08:16 PM, Dec 11, 2009
Govt is disinvesting 10 pc equity in all profitable, listed, public sector firms. ...
01:21 AM, Nov 06, 2009
All state-run firms to have at least 10 percent public holding. ...
02:53 PM, Nov 05, 2009
CPI-M leader Brinda Karat says the matter is a case of too little, too late. ...
02:50 AM, Oct 15, 2009
The dues started accumulating during the year 2008-09. ...
08:13 PM, Jul 20, 2009
Budget had no big reform plans, but disinvestments target seems set. ...
09:56 PM, Jul 16, 2009
Oil cos' huge database to be useful in covering large part of population. ...
07:27 AM, Jul 15, 2009
