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.
The guidelines ask whether a student can climb stairs, but not whether the college has a ramp. They ask whether a student can bear weight, but not whether the system can bear the weight of its own prejudice.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
ACM Katre was 2nd IAF chief to die in harness. It was at a memorial lecture in his honour where IAF chief AP Singh revealed that India shot down 6 Pakistani aircraft in Op Sindoor.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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