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.
In the face of the Covid-19 pandemic, people of India have realized their collective strength, prime minister Narendra Modi said in a short video message Friday morning. He also urged people to light lamps Sunday night as a gesture of this collectivity. “Today marks nine days of the na
Demobilization, like its predecessor – demonetization, is another decision gone bad in implementation. In both instances a careful public administrative action through its governance systems could have saved the magnitude of impact particularly on the most vulnerable sections of the society. Th
In a bid to break the “chain of transmission” of the deadly Covid-19, India, a country with more than 1.3 billion population, observed a voluntary ‘Janata Curfew’ on March 22. This has been followed by a 21-day, nationwide lockdown from March 24. Prime minister Narendra Modi also re
To take speedy decisions on research and development for Sars-Cov-2 virus and COVID-19, the government has constituted a Science and Technology Empowered Committee. The committee, set up on March 29 and chaired by Niti Aayog member, professor Vinod Paul and professor K Vijay Raghavan, princi
Covid-19 may turn out to be the last straw that broke the camel’s back so far as the real estate sector is concerned. It broke out at a time when pundits were estimating the GDP to be hovering around 2.5% with unprecedent levels of unemployment. This itself was a good indicator that the real estate s
As COVID -19 cases continue to rise amid a 21-day lockdown, the centre and the states are proactively taking measures to provide aid to the underprivileged and the needy during this unprecedented situation. By Sunday morning, India had registered 27