Govt plans to sell Air India and some state-owned firms by March 2020 - Report


Daijiworld Media Network – New Delhi 

New Delhi, Sep 23: The central government aims to sell two or three state-owned firms to local or foreign firms to raise up to Rs 600 billion (US $8.5 billion) by March 2020, a senior Finance Ministry official said on Monday, reports Business Today quoting PTI. 

The government plans to sell Bharat Petroleum Corp Ltd , logistics firm Container Corp of India Ltd and debt-laden Air India before the end of March 2020, the official, who asked not to be named, told the media. 

The Prime Minister's Office (PMO) had voiced reservations in the past about the Finance Ministry's earlier sales of stakes in one state entity to another, which was the case when refiner Hindustan Petroleum Corp Ltd was sold to Oil and Natural Gas Corp Ltd, the official revealed.

 

"The PMO is very clear that we cannot be selling government companies to another government company and then call it privatisation," the official said.

  

Comment on this article

  • SmR, Karkala

    Tue, Sep 24 2019

    When India achieved independence in 1947, it was primarily an agricultural country with a weak industrial base. There were only eighteen Indian Ordnance Factories in the country which the British had established for their own economic interest and rule the subcontinent with brute force. The national consensus was in favor of rapid industrialization of the economy which was seen as the key to economic development, improving living standards and economic sovereignty. Building upon the Bombay Plan, which noted the requirement of government intervention and regulation, the first Industrial Policy Resolution announced in 1948 laid down broad contours of the strategy of industrial development. Subsequently, the Planning Commission was formed by a cabinet resolution in March 1950 and the Industrial (Development and Regulation) Act was enacted in 1951 with the objective of empowering the government to take necessary steps to regulate industrial development. Prime Minister Jawaharlal Nehru promoted an economic policy based on import substitution industrialization and advocated a mixed economy. He believed that the establishment of basic and heavy industry was fundamental to the development and modernization of the Indian economy. India's second five-year plan (1956–60) and the Industrial Policy Resolution of 1956 emphasized the development of public sector enterprises to meet Nehru's national industrialization policy. His vision was carried forward by Dr. V. Krishnamurthy known as the "Father of Public sector undertakings in India".

    In 1951 there were just five enterprises in the public sector in India, but in March 1991 this had increased to 246.

    Since 2014, all these state-owned firms seems to be on 'sale' by PM Modi's 'Make in India' government in order to meet the target of $5 trillion economy.

    For BJP Sale India saves India. Loot Reserve Bank of India to Save party.

    jai Hind

    DisAgree Agree [2] Reply Report Abuse

  • AnoNymouS, Mangalore

    Tue, Sep 24 2019

    Privatization will lead to increase in the travel fares. The same thing has happened in Britain where they sold off the railways to private ownership and now the travel cost is eye-wateringly dearer. THIS has not helped the private companies either as the public would prefer to travel in their own transport as the comparative expense is the same! The entire country will have to bear the load. The entire staff of Air India will be given forced voluntary redundancy. And the cut off age for the Air hostesses will be 25. The prices of the airfare will be equivalent to the other airways if they will have to make any profit or they will go down like Kingfishers. Anyways, I have never traveled in Air India before and hope I never have to. Vote for Modi. Vote for Modi. Boda podi?

    DisAgree Agree Reply Report Abuse

  • N.M, Mangalore

    Tue, Sep 24 2019

    Modi led corrupt and inefficient BJP will sell the country to Gautam and Mukesh by 2024 and the common man will suffer.

    DisAgree [3] Agree [16] Reply Report Abuse

  • saquib, byndoor

    Tue, Sep 24 2019

    if we go by this pace , i think BJP and co will keep India again as mortgage to British as we know how patriotic they were before Independence

    DisAgree Agree [20] Reply Report Abuse

  • Anees, Karkala,Dubai

    Tue, Sep 24 2019

    Sab bhejke Choli pe Nagpur Jayega...

    DisAgree Agree [16] Reply Report Abuse

  • saif, ThodarAl-Jubail KSA

    Tue, Sep 24 2019

    By the end of 2024 Modi Term Private companies like Adani, Ambani will becomes the owner of our countries government firms... imagine the names of our existing firms will be renamed accordingly.
    CBI will be renamed to ABI (Just guess the full meaning)
    EC to AC
    HC to AC
    ED to AD
    and many more.
    But still some fools not understanding the ground reality and agenda of Modi shah.
    Modi shah they are fit to run their own businesses but not our country

    DisAgree [1] Agree [13] Reply Report Abuse

  • Dinesh, Mangalore

    Tue, Sep 24 2019

    Air India name will be AIR AMBA......

    DisAgree [4] Agree [15] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Tue, Sep 24 2019

    Who among private entrepreneur in the country has such a huge (multi-Billion Dollars) to invest in an ailing company and lose their fortune for nothing!
    Yes, we cannot rule out any such probability within Modi Saabs friend circle to help them indirectly and financing them to be the new owners/privatization policy.
    Step by step/slow & steadily major part of government machinery/production line/Industries will settle once for all at the mercy of Private individuals. Good for absorbing and solving unemployment problem too.

    DisAgree [1] Agree [7] Reply Report Abuse

  • AM, Mangalore

    Tue, Sep 24 2019

    The Govt companies built from hard earned money from tax payers. Govt should not sell these firms without proper discussion with stake holders. Some of our Govt. owned companies our pride even if they are not performing well.
    I think this Govt working on some hidden agenda and selling these firms to previleged corporates and kill the market as they are doing with our telecom sector

    DisAgree [2] Agree [13] Reply Report Abuse

  • Prasad, Hubli

    Tue, Sep 24 2019

    How you run sick companies having so huge debt. Who bear the cost..?? Did congress left money in ex-chequer. While they are going emptied it all...by lending money from bank to defaulters who are now run-away.

    DisAgree [13] Agree [8] Reply Report Abuse

  • Rauf, Mangalore

    Tue, Sep 24 2019

    In India,

    All Government owned companies are in Loss...

    BSNL is in Loss
    Air India is in Loss.

    If you see Saudi , Saudi Airlines in Profit. Saudi Telecom Company (STC ) is in profit..In any other country, all government companies doing good...

    DisAgree Agree [21] Reply Report Abuse

  • Prasad, Hubli

    Tue, Sep 24 2019

    Rauf...How you know Saudi Airlines or Saudi Telecom running on profit. Saudi Government digging several barrels of crude oil daily. Revenue from oil fields shared by prince and princess and family members of royal family. For keeping people happy..government providing all thing free from education, medical, electricity, shelter and many more things. Cost of which beared by expatriates who working there in different ways. Otherwise chances are more civil war will start. For that reason to keep watch on people are having special intelligent people who no one aware who mingle within crowd. Do you think there is no availabilty of water. They depend upon sea water. For converting sea water into useful...how many amount of money they pour..which beared by government itself...which are on losses. After 9/11 attack...nationals are involved..still verdict not come. Otherwise wants to pay in million dollars to america as a compensation.

    Even saudi government wants to pay family in kerala in millions as land near makkah belonged to them. When and how indian family acquire land in makkah..?? Now sit and think. King Vikramdityah had vast kingdom spreaded all over..along with he also taken vedic culture.
    For that reason similarites you will find..and are in common.

    DisAgree [10] Agree [8] Report Abuse

  • AM, Mangalore

    Tue, Sep 24 2019

    Dear Friend,
    Name the companies which are making losses and having debt and put them on public domain and discuss with the Public. BJP govt ruling since five years and more why they cannot cut the debts and bring them to perform well. ONGC, BSNL, HAL are all started to make losses after BJP started its rule. Let the Govt sell these companies also. Building any company or any asset is a serious business and selling them aavne pavne price is not justified.

    DisAgree [2] Agree [9] Reply Report Abuse

  • Af,,, MANGALORE

    Tue, Sep 24 2019

    This govt will be made sure in future there are only companies will be there one is Ambani and other is Adani,

    DisAgree Agree [14] Reply Report Abuse

  • Prasad, Hubli

    Tue, Sep 24 2019

    From the days of congress rule most of government undertaking companies running on losses. Nobody aware of it as on that time not had a strong opposition. Whatever congress was doing are accepted by all. Major Petroleum Companies are running on losses.

    Many times ministers are changed due to there big failure..like Veerappa Moily, Late Murali Deora. Our aviation international sector headed by air-india running on losses. Only local Indian Airlines running on profit. After Praful Patel become aviation minister he merge both Air-India and Indian Airlines. Mai bhi dhooba..tu bhi dhooba. Latter on they given license for private airlines. Jet Airways actually funded by D-Company and started through influence of Sharad Pawar and Praful Patel. It's actually a big game..where in more people involved. It started after fall of East West Airlines funded by D-Gang but chairman of same gunned down by Baba urf Chota Rajan's gang. May be Air India will be taken over by Singapore Airlines.

    DisAgree [23] Agree [13] Reply Report Abuse

  • Dsouza, Mudarangadi/Udupi

    Tue, Sep 24 2019

    Not a single government websites designed for public use is not working, only because government officials want to make money, if all works online what they will get ! Even now in modi rule also same senario. Congress made loss, why BJP cant administer in last term and bring it unfrr profit ? Even BJP also currupt.

    DisAgree [3] Agree [11] Reply Report Abuse

  • gm, Mlur

    Tue, Sep 24 2019

    For your information opposition was strong always except this govt. That's why the people in power do whatever they want and blind and dumb people are supporting.

    DisAgree Agree [10] Reply Report Abuse

  • Rolf, Dubai

    Tue, Sep 24 2019

    Prasad is sick pray for his health to get well soon to comment .

    DisAgree [6] Agree [29] Reply Report Abuse

  • HARISH, MANGALORE

    Tue, Sep 24 2019

    FINALLY INDIA KO BE,,,, CHORR,,,, MODI,,,,, BEJDEGI ,,,,, PHIR LONDON BAGEGI

    DisAgree [3] Agree [18] Reply Report Abuse

  • Paul, Mangalore

    Tue, Sep 24 2019

    Ambanies & Adanies ..Fekus Chacha & Amith's bathijas are ready to buy

    DisAgree [3] Agree [10] Reply Report Abuse

  • ramesh, kodagu

    Tue, Sep 24 2019

    sell it to your godfather gujjus'

    DisAgree [4] Agree [34] Reply Report Abuse

  • gm, Mlur

    Tue, Sep 24 2019

    Only and only big talks. Failed everywhere.

    DisAgree [5] Agree [36] Reply Report Abuse

  • Dsouza, Mudarangadi/Udupi

    Tue, Sep 24 2019

    Privates will grow stronger than government and days are not too far government will be controlled by privates.. Acche din for AI.

    DisAgree [7] Agree [29] Reply Report Abuse

  • Praveen, Mangalorean

    Tue, Sep 24 2019

    Mera Desh Badal Raha Hai .. from 2014 / 2019...???

    DisAgree [7] Agree [32] Reply Report Abuse

  • Ahmed K. C., Mangalore

    Tue, Sep 24 2019

    That isn't the solution.
    Govt has to change the policies.
    Any illness can be treated once bleeding is stopped.

    DisAgree [4] Agree [26] Reply Report Abuse

  • Aam Aadmi, Mangalore

    Tue, Sep 24 2019

    Acche Din for Ambani and Adani. Looks like Indias name has to be changed to Ambani as sooner or later all of India will be sold to Ambani. And bhakts will say. What a Masterstroke Modiji.

    DisAgree [5] Agree [41] Reply Report Abuse

  • Alwin, Mangalore

    Tue, Sep 24 2019

    We are unable to manage them a new development of after 70years of Independence

    DisAgree [2] Agree [29] Reply Report Abuse

  • Jossey Saldanha, Atlanta

    Tue, Sep 24 2019

    Bharat Petroleum & Air India's combined deal is offered to the Richest Person in India ...

    DisAgree [4] Agree [34] Reply Report Abuse

  • Alexander, Bangalore/USA

    Tue, Sep 24 2019

    This is a very good Move from Indian Govt to make privatization Specially Air India. The staff " May" be not happy about Govt service and the facility they was getting . So now they can have more facility and Happy work environment.
    Privatization is very important in India in most of the firms/companies, Transport,bank as well as Hospitals,school etc.

    Good Move from Govt and happy staff

    DisAgree [16] Agree [9] Reply Report Abuse

  • Alban Dsilva, Mangalore

    Tue, Sep 24 2019

    The days are very when Govt may sell or mortrage the people of India ...

    DisAgree [5] Agree [16] Reply Report Abuse

  • Vijay, Uae

    Tue, Sep 24 2019

    Achhe din from Mr feku to Ambanis and adanis group deepavali bonus
    Bhaktas will be happy now.

    DisAgree [3] Agree [19] Reply Report Abuse

  • Roshan Rodrigues, Mangalore

    Mon, Sep 23 2019

    Our Guju may settle in USA, after selling India to ..................................
    Then what will be the Name Republic of
    No Headache about Ram Jalma Bhoomi .
    Jai ho Modi traveled 6 years free of charge in Air India and ready to sell to settle your travel expenses.
    Black Money, 15 Lacks, Betti bacavo Betti Padavo , Clear Ganga, swatch bharth, Make in India, yoga...
    Wa very good Advertisement , I liked your all photo shoot and special photo shoot in A/c Internet connected, electric Supply Cave .
    You Enjoyed and fulfilled your Jealous dreams against Congress.
    What is left to sell Now ?

    DisAgree [4] Agree [24] Reply Report Abuse

  • PINTO, Mangalore

    Mon, Sep 23 2019

    Soon Air India will be Air Ambani or Air Adani..

    DisAgree [6] Agree [23] Reply Report Abuse

  • LAN.........,, Belman / Washington, DC.

    Mon, Sep 23 2019

    People,

    If Air-India is sold along with employees...I am sure, nobody wants to buy it even free....Without employees may be some local or foreign companies may bid...like Tata, Ambani, Adanis etc...

    I would suggest Tata is a better choice...they tried to start a Airlines in 1996 in India ,when HD Deve Gowda was PM...CM Ibrahim his Civil Aviation Minister asked 10 Crore bribe...Ratan Tata mentioned in his biography....so Tata's said GOODBYE...

    ...Tak...Takk...

    DisAgree [3] Agree [13] Reply Report Abuse

  • Anthony Lobo, PHOENIX

    Tue, Sep 24 2019

    Looks like BJP is going to pay 40 to 80 crores one who buys it. Take take.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Jossey Saldanha, Atlanta

    Mon, Sep 23 2019

    Ambani or Adani ...

    DisAgree [4] Agree [18] Reply Report Abuse

  • Anilkumar, Mangalore

    Mon, Sep 23 2019

    Hope it is not yet another way for backdoor deal with special "a" group companies.

    DisAgree [3] Agree [18] Reply Report Abuse

  • Abdulla, India

    Mon, Sep 23 2019

    The only company that can handle are the ones who started it namely the TATA s
    Hand over Air India to the owners
    Leave them alone with full support and backing
    Rest will be history
    They can make it the best Airlines of the world
    They are professional with best business ethics .
    We can see Indian flying high with Tatas and the Maharajah on its tail.

    DisAgree Agree [32] Reply Report Abuse

  • MN, Mangalore

    Tue, Sep 24 2019

    No doubt TATA are good. However, Goodness alone wont qualify success. Look at TATA Car. The Car is good. The agency (Most of them) worst service. Isn't it ?

    When the Public sectors start becoming white elephant, The need of the hour is healthy competition. Privatisation is one such solution.

    DisAgree Agree [1] Reply Report Abuse


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Title : Govt plans to sell Air India and some state-owned firms by March 2020 - Report


 
 
 
 

 
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