Shut down one PSU, sell four others: NITI Aayog

The Aayog had earlier submitted a list of 74 sick and loss-making CPSEs for closing down and strategic sales

GN Bureau | July 21, 2016


#PSUs   #NITI Aayog   #CPSEs  

 NITI Aayog may recommend the closing down of one sick central public sector enterprise (CPSE). Four enterprises could be up for strategic disinvestment in the first phase of the government plan of shutting down and restructuring of loss-making state-owned companies, according to a news report published in The New Indian Express.

NITI Aayog has been given the task to identify CPSEs where the government should exit from management control, to the extent they should exit and what should be the mode of divestment.
 
The Aayog had earlier submitted a list of 74 sick and loss-making CPSEs for closing down and strategic sales. According to various news reports, the prime minister office (PMO) has directed Niti Aayog to prepare a cabinet note for the shutting down of the state-owned company. The government will examine the response from various stakeholders including trade unions before taking any final move.
 
Earlier, a group of secretaries in a presentation to Prime Minister Narendra Modi had said that the government should prepare a plan for exit from sectors like hotels, air services and travel agency. There are at least 16 CPSEs which are incurring losses regularly for the last three years, including Hindustan Cables Limited, Hindustan Papers Limited, and Richardson & Cruddas Limited.
 
The cabinet committee on economic affairs, in its meeting on January 6, 2016 had approved the closure of HMT Watches Limited, HMT Chinar Watches Limited and HMT Bearings Limited by offering an attractive VRS to its employees and disposal of movable and immovable assets.

Comments

 

Other News

“Mumbai Infra boom similar to that of Manhattan in 19th C”

Mumbai’s ongoing infrastructure boom – with a new coastal road, Atal Setu, metro lines and much more – creating transport corridors – is comparable to that of Manhattan in New York during 1811-1870, according to BMC commissioner Bhushan Gagrani. The iconic projects being implemented

Global Gandhi: How the Mahatma captured the world’s imagination

Gandhi’s Australia, Australia’s Gandhi By Thomas Weber Orient BlackSwan, 348 pages, Rs 1,800  

Urban apathy in Mumbai, Maharashtra sees 49% voting

Polling in the fifth phase of General Elections 2024 which commenced at 7 am on Monday simultaneously across 49 PCs recorded an approximate voter turnout of 57.47% as of 7:45 pm. Voters came out in large numbers braving hot weather in many parts of the states that went for polls on Monday.

Voter turnout: Drop from 2019 reduces further

As the voting percentages dropped drastically in the first couple of phases of the ongoing general elections, observers and analysts spoke of ‘voter apathy’ blamed it on a lack of “wave” this time – apart from the heatwave, that is. The latest figures after the fourth phase, h

GAIL reports annual revenue of Rs.1,30,638 crore

GAIL (INDIA) Limited has reported 75% increase in Profit before Tax (PBT) of Rs.11,555 crore in FY24,  as against Rs 6,584 Cr in FY23. Profit after Tax (PAT) in FY24 stands at Rs. 8,836 Cr as against Rs.5,302 Cr in FY23, a 67 % increase. However, revenue from operations registered a fa

Women move forward, one step at a time

“Women’s rights are not a privilege but a fundamental aspect of human rights.” —Savitribai Phule In India, where almost two-thirds of the population resides in rural areas, women’s empowerment initiatives are extremely critical for intensifying l

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter