In the first phase, three hotels including Hotel Lake View Ashok, Bhopal, Brahmaputra Ashok, Guwahati and Bharatpur Ashok, Bharatpur would be taken for divestment
GN Bureau | May 4, 2017
The cabinet committee on economic affairs has approved the proposal of disinvestment of hotels/properties of the India Tourism Development Corporation Ltd. (ITDC).
The decision on disinvestment has been made, keeping in view that managing hotels on professional lines is not the government’s work.
As part of the disinvestment policy, it has been decided to lease/sub-lease the hotels or properties jointly with the concerned states or return them to the states after fair valuation. The states would then have the option to upgrade and operate the hotels by involving the private sector or to utilize the properties as per their requirements. States have exercised their options accordingly, in each case going forward with the option best suited to their needs, in line with the overarching principle that it is not the business of government to manage hotels.
In the first stage of the disinvestment process, three hotels including Hotel Lake View Ashok, Bhopal, Brahmaputra Ashok, Guwahati and Bharatpur Ashok, Bharatpur would be taken for divestment.
In all three cases, the hotels are being given back to the concerned states. In Bhopal and Guwahati, ITDC is divesting its share of 51 percent in the joint venture company formed for operation of the hotels whereas in the case of Bharatpur, the unit which was only managed by ITDC is being returned to the state government.
India is a news-hungry nation with more than 1 lakh newspapers, apart from many news channels. News consumption is high – more so in smaller cities, and the industry needs to capitalize on its huge untapped potential, believes Ashish Bhasin, CEO, APAC, and chairman, India Dentsu Aegis Network.
As the Amnesty International downs the shutters on its India operations, the National Human Rights Commission (NHRC) has taken suo motu cognizance of the matter and sought the home secretary’s response on the allegations levelled by the global organisation. Amnesty International in Ind
The Covid-19 pandemic has brought the spotlight on the health-promotive and disease-preventive solutions of Ayush (Ayurveda, Yoga, Unani, Siddha, Homeopathy) disciplines. What has not come into the limelight is the emerging nationwide trend in the Ayush disciplines, of taking up evidence-based studies.
The Indian electricity sector is going through an interesting phase right now. Many reforms are being introduced to increase competitiveness and transparency in the sector. The power market in India is a surplus market now and the spot prices are going down day by day. With all these indicators signaling a
The Indic Quotient: Reclaiming Heritage through Cultural Enterprise By Kaninika Mishra Bloomsbury India, 230 pages, Rs. 499 Over the past decade, India has seen a significant rise in passion for enterprise as well as pride in her
International observers will keenly watch the Chinese Communist Party Central Committee meeting next month. The central committee is the highest organ of the CCP with a mandate to execute the decision of the National Congress which is convened once every five years. Besides economy, r