Crash that killed 4 one of several Pawan Hans chopper accidents in last few decades. These incidents, coupled with losses, operational issues & legal hurdles, may delay disinvestment.
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.
Since 2014, shortfall in disinvestment targets was highest in 2021-22 in percentage terms, even though absolute figure peaked last year at Rs 1.72 lakh crore.
SC in November ordered CBI investigation into Vajpayee govt’s 2002 sale of HZL shares to Sterlite. Govt responded with application saying CBI’s basic facts were wrong.
Govt had set ambitious target of Rs 1,75,000 crore in Union Budget, with over a third of receipts targeted from the listing of Life Insurance Corporation and privatisation of BPCL.
In written reply, MoS Finance Bhagwat Karad listed status of every PSU that was selected. He explained why process has been halted in some, while others are caught in litigation.
The 20.1% growth in Q1 FY22 was largely driven by the base effect. Structural reforms including disinvestment and bank privatisation needed to ensure a sustained growth path.
With the major aspects of the immediate incident covered, the six reporters on the ground set about sending back stories as the smoke from the debris lifted and a clearer picture of the site emerged.
Once acquired by IAF, the medium transport aircraft (MTA) will replace both AN-32s and IL-76s, it is learnt. The idea behind the revamp is to meet modern operational needs.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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