Modi government is keen to go ahead with LIC’s IPO — potentially India’s biggest — to help plug a widening budget gap. LIC had total assets of Rs 32 lakh crore in FY 2019-2020.
According to the statement, the extent of respective shareholding to be divested by govt & LIC will be decided at the time of structuring of transaction in consultation with RBI.
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.
Modi government is unlikely to earn the money it had hoped to this year due to Covid. The last thing it needs is slowing down on Rs 2.1 lakh crore disinvestment plan.
Yes Bank should’ve been overseen by a Resolution Authority, depositors shouldn’t have had to face moratorium. Now SBI or LIC shouldn’t be forced to buy it.
If done right, IPO can bring transparency & efficiency to LIC, ensure govt doesn’t force it to buy weak PSUs, and improve resource allocation in the economy.
Each billion dollars we spend on GPUs and AI hardware is akin to planting more neurons in the simulated brain we are building. And this brain is expanding — quickly.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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