PRIVATISATION
Indian airports need to review their pricing strategies: CAPA India
Indian airports can increase profitability by increasing non-aeronautical revenues, according to aviation consultancy firm CAPA India. The consultancy found that airports on Public Private Partnership (PPP) mode generate more non-aero revenues than those operated by the Airports Authority of India (AAI). The consultancy suggested that Indian airports need to review their pricing strategies and consider whether aero charges reflect demand on resources.
Three state insurers may get Rs 5,000-cr infusion for revival
The Indian government may delay the planned privatisation of state-run general insurers, instead focusing on strengthening three insurers - Oriental Insurance Co. Ltd, National Insurance Co. Ltd, and United India Insurance Co. Ltd - through capital support and business revival plans. The government is expected to infuse about ₹5,000 crore into the insurers this fiscal, shelving any privatisation plan this fiscal.
Privatisation of Pakistan International Airlines schedule for early August: Reports
In the upcoming privatisation of Pakistan International Airlines, Finance Minister Muhammad Aurangzeb and Coordinator to Prime Minister Shahbaz Sharif play crucial roles in ensuring transparency and efficiency in the process.
Kanchenjunga Express train mishap: Govt doing nothing; wants to privatise Railway, TMC’s Firhad Hakim slams NDA govt
Sealdah (Kolkata): Mayor and Kolkata Minister Firhad Hakim on June 18 expressed grief over the Kanchenjunga Express train accident in West Bengal and informed that West Bengal govt has set up a help desk and all the ministers and secr...
Modi-led NDA govt must tackle unemployment problem, especially in unorganised sector: Rajiv Kumar
Former NITI Aayog Vice Chairman Rajiv Kumar emphasized that the Modi government's third term must address unemployment, particularly in the unorganized sector and SMEs. He highlighted the need to finalize the delayed four labor codes and recognized the K-shaped economic recovery post-COVID. Large corporations and highly skilled individuals have prospered, while lower-end workers and SMEs struggle.
Coalitions, building economic agreement
India's economic reforms are not slowed down by re-entering coalition politics. The country has a history of tough decisions and reformist outcomes under coalition rule since the 1990s.
- Go To Page 1
Brute majority or coalition pressure, India's growth to be perpetual theme
India's growth story may thrive under a coalition rule despite no party having an absolute majority. Past data suggests coalition governments have effectively boosted growth but struggled with inflation. Inflation rates varied under different regimes, with Narendra Modi's government seeing 5.4% inflation during its tenures.
Why should reforms now be a problem? Freebies, promised or delivered, didn’t work. Labour, trade, education & privatisation reforms await
Voters in the recent election have sent a clear message: they value responsible spending over freebies. At the national level, the NDA government, despite a reduced majority, was preferred over a challenger promising unattainable giveaways. Similarly, in Andhra Pradesh, the incumbent government, known for excessive freebies, faced a resounding defeat. The takeaway for future governments is to spend taxpayer money judiciously, prioritizing essential functions like infrastructure, education, health, and defence.
Air India introduces new feature, passengers can now lock fares for two days with extra charges
Air India, now under the Tata Group's ownership, has unveiled a new offering called 'Fare Lock' to enhance passenger convenience and flexibility in travel planning. This feature allows customers to reserve a chosen fare for a period of 48 hours, enabling them to solidify their travel plans while retaining the selected fare. With a nominal fee, travelers can now secure their desired fare for two days, streamlining the booking process and providing peace of mind.
Old planes, lack of engineering capacity test Tata’s mettle to turnaround Air India
Customers flying on Air India flights to North America and Europe have been raising issues about frequent delays, broken seats or non-functional in-flight entertainment screens as the Tata group struggles to revamp the airline's fleet, some of which are 15 years old. The original aircraft for the delayed flight to San Francisco, had developed a technical snag. So, the airline had to tow a Boeing 777 which was parked under hot sun in Delhi’s 49 degree temperature. Air conditioning system in plane work.
Emirates boss says India’s protectionist stance will be detrimental to economy
Emirates president Tim Clark opposes India's protectionist stance to favor its carriers. The UAE requests more seats, Air India supports the move post-Tata takeover, and IndiGo ventures into long-haul travel with Airbus aircraft.
Over 200 passengers of Air India Delhi-SFO flight face 30 hrs ordeal with inordinate delay
More than 200 passengers of a San Francisco-bound Air India flight faced a 30-hour delay due to a technical glitch, non-functional air conditioning, and payload issues. The flight was rescheduled several times before finally being delayed due to temperature issues. Passengers, including the elderly and children, endured discomfort and were offered options like full refund and complimentary rescheduling. The delay led to a show cause notice from the aviation regulator and marked the second such incident in a week for Air India's San Francisco flights.
Air India gets show cause notice from Ministry of Aviation over 20-hour flight delay
The Aviation Ministry issued a show cause notice to Air India following a 20-hour delay on a Delhi-San Francisco flight. Passengers were subjected to extreme discomfort, enduring searing heat inside the aircraft without air conditioning. Reports emerged of passengers fainting due to the conditions, prompting complaints on social media.
Air India names Tata Projects' Sanjay Sharma as new CFO
Air India has named Sanjay Sharma as its new chief financial officer, succeeding Vinod Hejmadi who retired after a long tenure with the airline now owned by Tata. Sharma brings over 30 years of experience in Corporate Finance, Investment Banking, and Real Estate, having held key finance positions at Tata Projects Limited and other reputable organizations. He will report to Air India's CEO & MD, Campbell Wilson.
Airlines dole out hikes and bonus after a good year
IndiGo and Air India announce salary hikes and bonuses for employees. IndiGo offers a 5% bonus to mark profitability in FY24, while Air India hikes salaries and bonuses up to Rs 1.8 lakh from April 1.
Shipping Corporation of India, NMDC Steel selloff to get fresh push after elections
The government plans to disinvest in Shipping Corporation of India (SCI) and NMDC Steel after the general election. SCILAL, a demerged entity of SCI, will be listed, setting the reserve price for SCI. The Maharashtra government waived stamp duty for SCILAL's demerger.
New study challenges benefits of healthcare privatisation
A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.
Air India fundamental rights claims not valid since it is now a private airline, Supreme Court rules
The Supreme Court ruled that Air India ceased to be a state entity post-disinvestment and takeover by Tata Group, hence not liable to fundamental rights claims. Dismissing appeals against Bombay High Court's verdict, it emphasized Air India's transition to private entity status, precluding writ petitions' maintainability.
Diminishing healthcare quality, worsening patient health outcome: Lancet study decries healthcare privatisation
Study in The Lancet magazine reveals that healthcare privatization globally lowers quality of care and worsens patient outcomes. Based on extensive research across high-income nations, it highlights the negative impact of converting public hospitals to private entities and outsourcing services. Concerns raised amid Supreme Court scrutiny over healthcare cost discrepancies
Newly privatised Toshiba to cut 4,000 jobs in restructuring drive
Toshiba announces plans to cut up to 4,000 jobs in Japan as part of restructuring efforts following its takeover by a consortium led by Japan Industrial Partners. The move aims to accelerate the turnaround of the conglomerate, reflecting a broader trend of companies resorting to job cuts amid economic challenges.
BJP wants to destroy constitution, scrap reservation: Rahul Gandhi
Congress leader Rahul Gandhi accused the BJP of aiming to dismantle the Constitution and eliminate reservations for tribals, Dalits, and backward classes. Speaking at a public meeting in Bolangir, Odisha, Gandhi held up a copy of the Constitution and vowed to resist BJP's alleged attempts. He emphasized that the rights and benefits received by the country's marginalized communities were a result of the Constitution.
Pakistan to privatise all SOEs, except strategic enterprises: PM Sharif
Asserting that the government's job is not to do business but to ensure a business and investment-friendly environment, Sharif directed all ministries to take action and cooperate with the Privatisation Commission.
Post-Covid capex pumps PSU muscles
A reappraisal of PSUs, however, could slow the longer trend of GoI getting out of business. And it needs to filter out the temporary effects of economic management. PSU banks are unlikely to retain their new-found health against private competitors for an extended period. Government capex, similarly, has a shelf life, after which private investment is expected to take over. That means companies borrowing from the cheapest lender, often from abroad, to build capacities. Neither consumption- nor investment-led growth assures a special place for PSUs. They will have to compete.
Was PM Modi's promise to deliver special category status to Andhra a jumla, asks Congress
The Congress on Monday said the Modi government has "consistently failed" to deliver on the promise of giving special category status to Andhra Pradesh and underlined that the party's manifesto reaffirms the pledge for providing this status to the state. Congress general secretary Jairam Ramesh posed questions to Prime Minister Narendra Modi ahead of his rallies in Andhra Pradesh.
Pakistan pushes back deadline for expressions of interest to buy national airline
The extension, announced in a statement by Minister for Investment and Privatisation Abdul Aleem Khan, came a day before the expressions of interest had originally been due. He said 10 companies had already expressed an interest.
Modi govt 'snatching away' reservation by 'blindly' implementing privatisation: Rahul Gandhi
In a post in Hindi on X, Gandhi said the mantra of Narendra Modi's campaign to remove reservation is -- 'na rahega baans, na bajegi bansuri', meaning neither there will be government jobs nor any reservation will be available.
Pakistan: Electricity bills to rise as govt set to privatise power distribution companies
Pakistan finalises plan to privatise profit-making power companies, potentially raising electricity prices. Shehbaz-led coalition government to oversee privatisation. New 12-member board formed for the process. FIA officers deployed to curb power theft, aiming to recover losses.
Mallikarjun Kharge writes to President Murmu against 'privatisation' of Sainik schools
Mallikarjun Kharge said there are 33 Sainik schools in the country and they were fully government-funded institutions operated under the aegis of Sainik Schools Society (SSS), an autonomous body under the Ministry of Defence (MoD).
2 years after privatisation, Air India's turnaround is still on the tarmac
Tata Group acquired Air India in January 2022 from the government, aiming to revive the debt-ridden carrier. However, the merger with Vistara faces hurdles as pilots protest pay changes. Despite efforts to restore Air India's former glory, challenges persist, including operational issues and staff unrest, impacting the turnaround process.
Load More
