Some BPCL contractors challenged guidelines issued by Centre on 18 August 1994. Policy mandates reservation to SC/ST bidders in transport contracts by oil marketing companies.
Fuel prices were first kept static to protect consumers from rise in oil prices, and then for OMCs to recover losses. With OMCs in profit now, daily pricing mechanism can be restored.
The privatisation process was stalled after two bidders walked out over issues such as lack of clarity in fuel pricing, with just one bidder left in the fray.
Government has already met one-third of its Rs 65,000-cr disinvestment target for this year. But legal and procedural delays with high-value companies are now posing hurdles.
While govt was successful in selling Air India to Tatas, BPCL got pushed to the new financial year. The hope was it would be among the first big-ticket deals early in 2022-23.
Modi govt was expected to bring legal changes in banking laws to facilitate privatisation of PSU banks, but couldn’t after a nationwide protest by bank employees' unions.
The BPCL privatisation, which could be the country’s biggest, is crucial for India. The govt needs to raise capital to make up the fall in tax revenues as the pandemic hit the economy.
Modi govt is of the view that 2nd Covid wave won't cause major economic disruption like it saw last year. Officials confident of Air India & BPCL sale 'in next few months'.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, says the government's exit from many sectors will help it to neutrally administer its policy-making role.
Piyush was about celebration—of life, of people, of stories. He believed that what we create can shape popular culture, can make people feel proud of who they are.
Rosneft, the Russian state-owned oil behemoth, has large interests in India. Reliance has a contract to purchase 500,000 barrels of crude per day from the firm.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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