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Likelihood of outstripping 2017-18 budgeted estimate of Rs 725 bn seen as key driver; Air India sale to be marquee disinvestment action BUDGET NEWS      :    Buoyed by way of the fulfillment of this yr’s disinvestment programme, the Finance Ministry ought to set a good better target of Rs 900 billion-1 trillion (Rs 90,000-1,00,000 crore) for 2018-19. this could encompass the sale of Air India, a number of other privatization tasks, mergers, preliminary public services, the centre’s two trade-traded finances, buybacks and gives-for-sale, and even monetization of land belongings. The budgeted estimate for 2017-18 is Rs 725 billion (Rs seventy two,500 crore), the highest ever for a 12 months up to now. With the purchase of Hindustan Petroleum with the aid of ONGC predicted to be finished soon, that concentrate on can be easily outstripped. As of January 22, divestment proceeds stood at Rs 555 billion (Rs 55,500 crore). ONGC’s acquisition of HPC...

Modi, who faces elections in key states later this year, and a nationwide election in early 2019, has faced pressure over a rise in retail prices of petrol and diesel to a record level. BUDGET NEWS :   India's oil ministry is pushing for a reduce in excise responsibility on petrol and diesel in the approaching 2018/19 finances to cushion the impact of rising oil prices on its good sized purchaser base,  oil ministry officials advised Reuters on Monday. prime Minister Narendra Modi, who faces elections in key states later this yr, and a national election in early 2019, has faced stress over a upward push in retail charges of petrol and diesel to a file level. India has the very best retail costs of petrol and diesel among South Asian nations as taxes account for about 40-50 percentage of the pump costs. A litre of petrol costs 72.23 rupees ($1.thirteen) whilst diesel is sold at sixty three.01 rupees. Petrol and diesel account for about 1/2 of India's de...

The impressive numbers will come in handy for Finance Minister Arun Jaitley to hew close to the budgeted fiscal deficit number of 3.2% of GDP BUDGET NEWS :   The disinvestment department has been advised to bring a sum of Rs 1 trillion to the budget desk for FY18. fresh from the success of crossing the annual disinvestment target for the first time, the finance ministry feels the branch ought to be able to attain the sum with the aid of March 2018. “We were instructed to utilize the buoyant market situations to attain the magic discern,” a source within the know of the traits told commercial enterprise standard. Over the weekend, nation-owned Oil and natural gasoline business enterprise (ONGC) has offered out the entire fifty one in line with cent government stake in downstream Hindustan Petroleum enterprise Ltd for Rs 369.15 billion. With this sale, the total profits from disinvestment within the financial yr FY18 will attain Rs 912.fifty three billion. The budge...

The impressive numbers will come in handy for Finance Minister Arun Jaitley to hew close to the budgeted fiscal deficit number of 3.2% of GDP BUDGET NEWS  :  The disinvestment department has been advised to convey a sum of Rs 1 trillion to the finances desk for FY18. clean from the achievement of crossing the once a year disinvestment goal for the primary time, the finance ministry feels the department ought to be able to reach the sum by using March 2018. “We were advised to utilize the buoyant market conditions to attain the magic determine,” a source within the realize of the traits advised enterprise trendy. Over the weekend, state-owned Oil and natural gasoline business enterprise (ONGC) has sold out the complete fifty one in line with cent government stake in downstream Hindustan Petroleum organization Ltd for Rs 369.15 billion. With this sale, the total income from disinvestment in the financial year FY18 will attain Rs 912.fifty three billion. The budget e...

The ONGC-HPCL deal is likely to fetch the government Rs 300 billion, the report said quoting sources BUDGET NEWS    :Eyeing Rs 1 trillion price range goal via disinvestment for next economic, the Modi authorities can also stop FY18 with Rs 900 billion selloff, nearly twice the report figure of Rs 460 billion done final yr, on the back of its stake sale in Hindustan Petroleum agency (HPCL ) to oil and herbal gas corporation (ONGC), in step with The Time of India file. The deal is possibly to fetch the authorities Rs 300 billion, the document stated quoting resources. The sale of the government's stake in HPCL to ONGC is caught on valuation. consistent with humans near the development, the attempt became to shut the deal before the quit of this month however the government was searching at getting a better price for its 51.1 in keeping with cent stake in HPCL. primarily based at the present day marketplace capitalisation, a 51 in keeping with cent in HPCL is w...