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Bharat Electronics Limited (BEL), a renowned defense electronics company in India, made an exciting announcement on December 6th.
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In 2022, the world saw a significant spike in arms and military services sales, reaching a staggering $597 billion. This increase was largely driven by Russia's invasion of Ukraine and the resulting tensions across the globe.
Recognising defence exports as a key pillar of sustainable growth of the Indian defence industry, Raksha Mantri Rajnath Singh inaugurated the Regional Office of HAL in Kuala Lumpur, Malaysia.
Central govt in its budget 2018-19, has announced setting up of two Defence Industrial Corridors (DICs) to develop a holistic defence manufacturing ecosystem in the country.
The Narendra Modi government has directed its ministries and departments to draw up an action plan to speed up the winding up and disinvestment of those public sector undertakings (PSUs) that have already received the cabinet’s approval for closure.
Finance minister Nirmala Sitharaman on Thursday asked chiefs of state-run banks to onboard the accounts aggregator system, which was introduced in September last year, by the end of this month. In a meeting with chiefs of various public-sector banks (PSBs) and regional rural banks (RRBs) here, the minister also asked sponsor banks to “formulate a clear road map in a time-bound manner to further strengthen the RRBs and support the post-pandemic economic recovery”, according to a finance ministry statement.
The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions, including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had threaten to go on strike to press for issues related to pension and the demand for five-days-a-week work.
LIC’s embedded value as of September 30, 2021, has been estimated at 5.39 lakh crore. Currently, private insurance companies trade at a multiple of 3-4 times embedded value.
The government is likely to consider calling fresh bids for state-owned Bharat Petroleum Corporation Ltd (BPCL) if the present bidders do not move forward with financial bids. Indicating this, a Finance Ministry official said the situation will become clear soon.
The Centre will come out with an expression of interest (EOI) for the sale of IDBI Bank by the end of March but may not offload its entire stake in the bank in one go, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said.
The government will move ahead with strategic sale of Shipping Corporation, BEML, and BPCL in the next financial year, besides Initial Public Offering of three public sector companies, including ECGC, a top government official said.
After the successful privatization of Air India last week, the Modi government is all set to bring LIC’s IPO shortly. Finance Minister Nirmala Sitharaman specified this in her budget speech.
Oil and gas PSUs sign MoUs for developing Badrinath Dham as 'Spiritual Smart hill Town'
The Cabinet Committee on Economic Affairs accorded approval to the proposal of the Department of Fertilizers for Grant-in-aid of Rs 100 crore to Assam based Brahmaputra Valley Fertilizers Corporation Limited (BVFCL).
Reacting to the union budget presented by the Finance Minister Nirmala Sitharaman in the parliament on February 1, the BMS said that mixing the beautiful concept of Atmanirbhar Bharat with FDI and disinvestment in the budget was 'disappointing' for the employees.
The Swadeshi Jagaran Manch (SJM) has voiced serious concern over the government move to disinvestment of PSU banks and LIC in the union budget presented by the Finance Minister on February 1.
During the Union Budget 2021, Finance Minister Nirmala Sitharaman has proposed for the 'Voluntary Vehicle Scrappage Policy.' This proposal was made during the presentation of the Union Budget for Financial Year 2022.
Union Cabinet has cleared the policy on the privatization of public sector undertakings (PSUs). The details regarding the policy will be announced in the upcoming Union Budget that is to be presented on Feb 1, 2021.
The Railway has received excellent response from private players to a request for qualifications (RFQs) for public-private partnership (PPP) mode in passenger train operations. A total of 15 firms including L&T Infrastructure Development Projects Limited, IRCTC, BHEL, have applied for private participation in the operation of passenger train services across 12 clusters in the country.
With an aim to strengthen the defence sector, a total of 70 defence contracts were signed during the last financial year, while 16 deals have been inked this fiscal till July, Minister of State for Defence Shripad Naik informed.
Defence Minister Rajnath Singh asserted that India cannot depend on foreign players for defence needs and such dependence is not compatible with the goal of a self-reliant India while launching 15 products developed by Defence PSUs (DPSUs) and Ordnance Factory Board (OFB).
As part of the Atma Nirbhar Week celebration of the Ministry of Defence, Defence Minister Rajnath Singh set in motion the initiatives of a number of modernisation and up-gradation of facilities as also new infrastructure creation by Defence PSUs (DPSUs) and Ordnance Factories Board (OFB).
In a very recent announcement, this time specifically focussing over the implementation of bank reforms, FinMin Nirmala Sitharaman on Friday said that record levels of loan recovery had been reached due to the reforms implemented by the government.
Viewing to review matters relating to growth of credit in various important sectors of the economy, Finance Minister Nirmala Sitharaman is slated to meet heads of public as well as major private sector banks on Monday.
Moving a step forward towards ‘New India’, the Modi-led government in the Union Budget presented today decided to make no changes in the personal income tax rates. However the surcharge on individuals having taxable income from Rs. 2 crore to Rs. 5 crore and Rs. 5 crore above, has been increased.
Plunging high over the estimations for the Union Budget, the nation at large seems satisfied for the rural angle provided, uplifting each and every class, sector and model of the society. With no changes in the personal income tax rates made for the individuals, traditional red ‘bahi-khata’ has focused on easing lifestyles, building infrastructure, empowering women, farmers; taking the economy to new heights.
National Small Industries Corporation Limited (NSIC), a PSU under MSME Ministry, has organized 15129 Entrepreneurship Skill Development Programme (ESDP) and 1341 Entrepreneurship Development Programme (EDP) during 2018-19 (till October ’18)
Finance Minister Arun Jaitley speaking about Public Sector Banks being recapitalised with Rs 2.11 lakh crore termed it a measure to fortify lending capacity. "Banks must be conscious that to keep them in good health is important. They should be well aware of their responsibility for driving economy's growth. The Parliament, on its end, should also extend support," the Finance Minister said, adding that banks are being tested.