The Modi government refers to the cabinet led by Prime Minister Narendra Modi, who became the 14th Prime Minister of India in May 2014. The government is headed by the Bharatiya Janata Party (BJP) and its allies within the National Democratic Alliance (NDA), a coalition of political parties.
Under Modi’s leadership, the government has focused on transformative initiatives aimed at economic growth, infrastructure development, and national security. Some of the landmark policies include the introduction of the Goods and Services Tax (GST), demonetisation of high-value currency notes in 2016, and the controversial revocation of Article 370 in Jammu and Kashmir, which ended the region’s special status. The Modi government has also emphasized initiatives such as ‘Make in India,’ ‘Digital India,’ ‘Skill India,’ and the ‘Swachh Bharat Abhiyan’ (Clean India Mission).
While it has received praise for boosting economic growth and improving infrastructure, it has also faced significant criticism. Its handling of the anti-CAA protests, the 2020 farmers’ protests, and issues surrounding the delivery of data—such as the absence of a national census and the lack of transparency regarding COVID-19 death tolls—has sparked public debate. The government has also been criticized for its response to social issues, such as the Hathras rape case and the conflict in Manipur.
Despite these challenges, the Modi government, now in its third term, continues to maintain a dominant political presence, securing electoral victories at both state and national levels.
Why the government should interfere with the day today functioning of PSUs If they find anything wrong, then take action against the concerned. But it should not be fair if these entities have to function to fulfil their whims and fancies. SEBI should bring strict legislation as it deprives the interest of minority shareholders.
if the merger of HPCL or equity take over of GSPC was right decision than whether the Govt or ONGC had ever gone into a detailed study for vertical integration.There is burning instance of YPF which has all types of vertical integrations misrably failed.My understanding is HPCL was imposed on ONGC, by govt to meet disinvestment targets and ONGC being cash rich and soft target for arms twisting by any deptt or govt..As regards precarious cash situation,let it be known that it may have temporary impacts butdue to strong financials,ONGC operations the financials including cash reserves will consolidate, as is usual in exploration copmpanies.
As far as decline in market cap of ONGC is concerned, it is global phenomenon amid decline in oil prices since 2014. On the ONGC’s acquisition of HPCL, it makes perfect sense for an E&P company to acquire a downstream company so as to galvenise it’s profitability in the wake of fluctuating oil prices.
Its not good to paint a gloomy picture always.
Is it acquisition of HPCL or 7000 crores plus acquisition of bankrupt – under Modi CM ship of Gujarat and possible siphoning
Of funds – GSPCL
What more we can expect from a lawyer finance minister ‘ he compelled HAL to give salary to it’s by taking huge loan despite HAL ‘ s huge amount due on IAF . This government is destroying good PSU to give profit to corporates .
I think such articles can easily mislead people at large. It’s a fashion to say something about Government Policy without fully understanding the motive / intent.
Downstream Acquisitions of PSUs / Investing surplus within India’s own exploration and production operations is perfect way of keeping Indian money within the Country.
It’s a complex industry. I may be wrong, but the writer does not seem to have the knowledge for writing a fair analysis.
This disaster is solely the high handed action of Arun Jeitley who forced ONGC to buy the govt stakes in HPCL and thus draining the reserves of ONGC. The tragedy is that sgencies like CAG knowingly ignore such action. Some private share holder of ONGC should sue the govt
I don’t like concept of disinvestment. Instead make PSUs more profitable by good management and less political interference. DISINVESTMENT is a concept like when you have no money to feed family than sold your properties. THIS POLICY OF MODI WILL DESTABILIZED A INDIAN ECONOMY IN LONG RUN.
Propaganda…huh..the debt position of HPCL and other OMCs…which forced govt to look for a solution to start with…ONGC had a choice to go with either BPCL or HPCL…It chose HPCL because it has an economical option….
Fact check of The Print article…
https://twitter.com/gargsourav/status/1124421365333876736
ONGC is one of the most corrupt company in India. I have worked for ONGC for many years and I know they are one of the most corrupt and arrogant company we have. I hate ONGC. Don’t blame Modi for the debacle. The people working from small peon to the boss official , everybody is corrupt . They can do anything for money. They are so corrupt. Shame on them.
it means you were also corrupt
what else one expect from him…loot is going on for decades, white British thieves have been replaced by brown one nothing new.
I had just very general telephonic discussion with one journalist on the issue. While I conveyed that I was not aware of the latest financials of ONGC, I was not conveyed that my name would be used in such article. I personally feel such articles need in-depth research to be meaningful. Thought to share my view with the readers of the article. Thanks.
It’s a bias article without details. HP purchase is not forced one. PSU are required to be competing industry , not white elephants. Government has no business to be in business. Past was different. Now let everything except Postal department including nationalized bank be privatized. Socialist systems have failed worl$ over and government employees are not working efficiently in India.
Such a poorly researched financial article. No talk of economies of scale with takeover amongst a lot of other things. Would have been better written if you had provided a balanced view, instead of imposing your own, maybe biased opinion
Private corp looking for gold class assets of PSU. Private sector is not bad per se but depth, openness and transparency is not visible in Indian scenario. Only few corporates grabbing all important tenders and assets with proportionate risk.
Let the PSUs live .
By the time his REIGN is over, the country will be in a mess…Mark my words….
y have u put the article of 2018 in the 2019 year
Make a Navratna company sick and sell to private players who contribute to personal and party fund.
Next five years strategy.
It is a proof CHOKIDAR CHOR JAI confirm .Jai Chokidar Chor Narendra Modi hai& Chokidar MAHACHOR Jootelie is his companion in his CHORI .
Sucked dry. Like the fisc. Enduring mystery where all the trillions, including the bonanza from lower oil prices, have gone. Government ads could not have been more than ten, twenty thousand crores.