SUNIL MITRA Enters to Lead DISINVESTMENT Drive
Troubled Galaxy Destroyed Dreams,Chapter 293
Palash Biswas
PSU outperformed private sector last week in markets 
Bangalore: Shares of public sector companies outperformed private sector firms last week. On BSE, public sector undertaking (PSU) index gave better returns among the dozen other sectoral indices during the week ended July 19. Among the 13 sectoral indices, the PSU index, which includes companies like GAIL, BPCL, HPCL, IOCL and MTNL, gave almost five percent returns in the last week. The PSU index is trading today at 8136.34 points as against 7,851.72 points, a week ago. 
When markets closed today, the total market capitalization of the PSU stocks was Rs.4,934,647.97 crores. The PSU stocks soars 48.97 points to close the day 0.61 percent higher of yesterday's close of 8,087.39. The stocks touched an intraday high of 8272.48 and a low of 8057.90 points. In all, a total of Rs.1.41 crore PSU shares were traded through the day.
Majority of public sector undertakings have established records of steady profitability and performance and several amongst them, such as Bharat Heavy Electricals (BHEL), Coal India (CIL) and National Thermal Power Corporation (NTPC) have attained global standards. BHEL has regularly declared dividends for 20 years now. Its order books are full for the next 10 years. CIL has broken new grounds by acquiring coal mines overseas. It has paid the government a dividend of Rs.1,700 crore. About 41 central public sector enterprises are listed and they account for around 40 percent of the total capitalization of stocks listed on the Bombay Stock Exchange (BSE). Jagannadham Thunuguntla, Equity Head, SMC Capitals said, "The present government, with the clear and aggressive disinvestment policy, has a lot of cushion and headroom in its fiscal policy making. With the aggressive disinvestment policy, the fiscal deficit may not be such a serious threat to the Indian economy, as generally perceived."
During the last week, PSU companies that gave positive returns were Canara Bank (1.54 percent), Bank of Baroda (1.66 percent) and ONGC (4.69 percent). Other indices that gave positive returns were Reality (3.91 per cent), Metal (2.06 percent), CD (1.89 percent), Bankex (1.86 per cent) and Auto (1.06 percent).
http://www.siliconindia.com/shownews/PSU_outperformed_private_sector_last_week_in_markets-nid-59643.html
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clear and aggressive disinvestment policy, has a lot of cushion ... Merchant bankers expect only two PSU public issuesMoneycontrol.com - Jul 15, 2009 NHPC and Oil India will raise close to Rs 3000 crore through their issues. The Finance Minister even issued a list of companies proposed for disinvestment. ... Finance Friday: India News Digest India Business Blog BSNL workers to oppose disinvestmentBusiness Standard - Jul 20, 2009 The call to protest comes a day before Telecom Minister A Raja's announcement to hold a review meeting of the PSU in view of the drastic fall in its net ... BSNL workers to oppose disinvestment proposal Stock Watch Raja to review BSNL's financial performance, IPO plans Business Standard Comment: Keep It PrivateTimes of India - Jul 15, 2009 He has said the moratorium on disinvestment will be lifted, with government stakes offloaded in select PSUs. Mukherjee has also given a welcome signal that ... Pranab breaks his silence on divestment, financial sector reform Hindu Business Line PSU stake sale soon: FM Deccan Herald Disinvestment: Present comfort at cost of future gains?Economic Times - Jul 19, 2009 The disinvestment debate has got additional lift from the fact that the Government of India is running a huge fiscal deficit right now. ... Borrowing to meet spend will go on, says govtDeccan Herald - Jul 15, 2009 "We will have a clear road map for PSU disinvestment in three to four weeks time. The road map will indicate the list of PSUs to be taken up for divestment ... Road map for PSU disinvestment in 3-4 weeks Financial Express Mamata conveys `no disinvestment' message to PranabTimes of India - Jul 9, 2009 The government has sought to give a positive spin to disinvestment by arguing that the public had a right to a share of PSU "wealth". ... Mamata opposes privatisation of govt-controlled firms Economic Times Mukherjee sell-off peaks from hiding Asia Times Online Govt should revive PSU disinvestment: Economic SurveyIndia Infoline.com - Jul 2, 2009 The Government should aim to raise as much as Rs250bn per year from the disinvestment of its stake in public sector companies, the Economic Survey for the ... Will the Budget listen to survey? Business Standard Montek rules out fresh stimulusChandigarh Tribune - 16 hours ago Meanwhile, the BSNL union has decided to observe an "Anti-Disinvestment Day" on July 22 protesting the government's plan to sell its shareholding in the ... Details on disinvestment soon: FMBusiness Standard - Jul 14, 2009 ... Mukherjee did not elaborate on government's disinvestment agenda, he said there was expectation that the Finance Minister will also give a list of PSU ... |
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PSU outperformed private sector last week in markets
By siliconindia news bureau
Wednesday,22 July 2009, 17:15 hrs
Print
Forward
When markets closed today, the total market capitalization of the PSU stocks was Rs.4,934,647.97 crores. The PSU stocks soars 48.97 points to close the day 0.61 percent higher of yesterday's close of 8,087.39. The stocks touched an intraday high of 8272.48 and a low of 8057.90 points. In all, a total of Rs.1.41 crore PSU shares were traded through the day.
Majority of public sector undertakings have established records of steady profitability and performance and several amongst them, such as Bharat Heavy Electricals (BHEL), Coal India (CIL) and National Thermal Power Corporation (NTPC) have attained global standards. BHEL has regularly declared dividends for 20 years now. Its order books are full for the next 10 years. CIL has broken new grounds by acquiring coal mines overseas. It has paid the government a dividend of Rs.1,700 crore. About 41 central public sector enterprises are listed and they account for around 40 percent of the total capitalization of stocks listed on the Bombay Stock Exchange (BSE). Jagannadham Thunuguntla, Equity Head, SMC Capitals said, "The present government, with the clear and aggressive disinvestment policy, has a lot of cushion and headroom in its fiscal policy making. With the aggressive disinvestment policy, the fiscal deficit may not be such a serious threat to the Indian economy, as generally perceived."
During the last week, PSU companies that gave positive returns were Canara Bank (1.54 percent), Bank of Baroda (1.66 percent) and ONGC (4.69 percent). Other indices that gave positive returns were Reality (3.91 per cent), Metal (2.06 percent), CD (1.89 percent), Bankex (1.86 per cent) and Auto (1.06 percent).
http://www.siliconindia.com/shownews/PSU_outperformed_private_sector_last_week_in_markets-nid-59643.html
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Nifty tests 4400; IT, capital goods, power, telecom tumble
Published on Wed, Jul 22, 2009 at 13:44 , Updated at Wed, Jul 22, 2009 at 14:45
Source : moneycontrol.com
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| At 13.35 hrs IST, the markets slipped into red after seeing some choppy trade. Selling pressure was seen in IT, capital goods, power, auto, pharma, FMCG, banking and select oil & gas stocks. Reliance, Infosys, ICICI Bank, L&T and HDFC were negative contributors to the Sensex. The Sensex was down 173.02 points or 1.15% at 14889.47. The Nifty was down 68.10 points or 1.52% at 4401; it touched an intraday low of 4,393.75.
About 1237 shares advanced while 1486 shares declined on the BSE. Nearly 440 shares were unchanged. The markets may see a further upmove driven by liquidity and results in the short term, Andrew Holland on Ambit Capital said. "I expect a sharp pullback at a later stage," he said. Holland also said that he would favour buying defensive stocks over high-beta and consumer staples currently. "We would also not bet on IT stocks. Top losers on the Sensex were Grasim at Rs 2,695 down 3.41%, BHEL at Rs 2,140 down 3.38%, TCS at Rs 463.10 down 3%, Jaiprakash Asso at Rs 219.65 down 2.59% Hero Honda at Rs 1,605 down 2.43%. Index heavyweight Reliance was trading at Rs 1,974.00 down 2.16% from its previous close of Rs 2,017.55. Tech major Infosys was trading at Rs 1,900.00 down 2.22% from its previous close of Rs 1,943.10. Top losers on the BSE Midcap - India Cements, United Phos, Thermax, Glenmark and Madras Cements were down 5-7%. However, top gainers on the Sensex were ONGC at Rs 1,076.80 up 3.06%, Sterlite Ind at Rs 604.50 up 1.45%, Hindalco at Rs 89.50 up 1.07%, DLF at Rs 346 up 0.73% and Tata Power at Rs 1,129 up 0.01%.
|
Air India board to be recast within a month: Patel
Tags: New Delhi
(Source: IANS)
Published: Wed, 22 Jul 2009 at 14:20 IST
New Delhi: Promising to recast the board of Air India in a month, Civil Aviation Minister Praful Patel Wednesday said the government cannot help the cash-strapped national carrier "beyond a point" and asked it to change its work culture.
"Air India will be restructured financially, organisationally. I am very sure it will start making profits soon and we will silence all the critics," Patel told reporters on the margins of an aviation industry conference.
"The airline's operations will have to be streamlined," he said, adding: "The government also will not interfere into its problems beyond a point. The management has to address the problems. I am hopeful the carrier will be able to come out of its problems."
The minister said the government was now looking at hiring skilled professionals for the national advisory board of the carrier, with the hope that this would help turn the airline around with some new ideas.
"There has to be change in the ethos and the work culture of the airline. The government will be happy to help them but we expect equal amount of enthusiasm from Air India."
The carrier is in a financial mess with losses expected to have topped Rs.5,000 crore ($1 billion) last fiscal, forcing Patel to seek a Rs.10,000-crore (about $2-billion) bailout package for the beleaguered carrier from Prime Minister Manmohan Singh.
Air India is also raising a $1-billion loan from overseas to fund its fleet expansion programme. The 11-year loan is expected to be guaranteed by the US Export-Import Bank.
Asked about full-service carriers like Air India proposing to turn themselves into low-cost airlines in a bid to tide over one of the worst crises in the global aviation industry in recent years, Patel said: "More such things will occur in a year or two".
The national carrier, for example, had announced recently that its low-cost arm, Air India Express, which mainly flies to the Gulf sector, will start domestic flights this year.
"Air India will be restructured financially, organisationally. I am very sure it will start making profits soon and we will silence all the critics," Patel told reporters on the margins of an aviation industry conference.
"The airline's operations will have to be streamlined," he said, adding: "The government also will not interfere into its problems beyond a point. The management has to address the problems. I am hopeful the carrier will be able to come out of its problems."
The minister said the government was now looking at hiring skilled professionals for the national advisory board of the carrier, with the hope that this would help turn the airline around with some new ideas.
"There has to be change in the ethos and the work culture of the airline. The government will be happy to help them but we expect equal amount of enthusiasm from Air India."
The carrier is in a financial mess with losses expected to have topped Rs.5,000 crore ($1 billion) last fiscal, forcing Patel to seek a Rs.10,000-crore (about $2-billion) bailout package for the beleaguered carrier from Prime Minister Manmohan Singh.
Air India is also raising a $1-billion loan from overseas to fund its fleet expansion programme. The 11-year loan is expected to be guaranteed by the US Export-Import Bank.
Asked about full-service carriers like Air India proposing to turn themselves into low-cost airlines in a bid to tide over one of the worst crises in the global aviation industry in recent years, Patel said: "More such things will occur in a year or two".
The national carrier, for example, had announced recently that its low-cost arm, Air India Express, which mainly flies to the Gulf sector, will start domestic flights this year.
| Bengal power man at selloff helm | ||
| OUR BUREAU | ||
New Delhi/Calcutta, July 21: Bengal power secretary Sunil Mitra will be the disinvestment secretary in the finance ministry. Mitra, an IAS officer of the 1975 batch, will replace Rahul Khullar, who has moved from the disinvestment department to take charge as commerce secretary. "The Appointments Committee of the Cabinet has approved the name of Sunil Mitra as secretary in the department of disinvestment under the ministry of finance," an official release said. Mitra had served as secretary, Public Enterprises and Industrial Reconstruction, for more than eight years in Bengal. Officials said Mitra had been handpicked by finance minister Pranab Mukherjee as he had formulated and adopted a divestment policy for 26 PSUs in Bengal. Among these 26 PSUs, the non-viable ones were closed, while some units were revived through financial restructuring. In some others, the government's holding was offloaded to the extent of 74 per cent to strategic partners. Mitra is also behind the corporatisation and the revival of the century-old Calcutta Stock Exchange. Mitra seemed quite pleased with the new portfolio though he had wished for the power secretary's post in the Union government. "People may want to be somewhere but they may end up being somewhere else," he said. The post of the divestment secretary was lying vacant since Rahul Khullar moved to the commerce ministry in June this year to replace G.K. Pillai, who became home secretary. H.S. Brahma became the power secretary in May. Mitra, however, didn't want to discuss his plans for the new job before formally getting the joining order. "Let me get the official order first," he said. The government is expected to issue the appointment letter on Wednesday. The finance ministry's road map on divestment in public sector units would be brought out in 3-4 weeks. However, there would be no strategic sale as the government would retain a 51 per cent stake. The divestment programme will kick off with the dilution of government equity in listed entities, where public holding is less. |
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 Calcutta Telegraph | Sunil Mitra is new Disinvestment Secretary - 18 hours ago PTI / New Delhi July 21, 2009, 19:55 IST West Bengal Power Secretary Sunil Mitra will be the new Disinvestment Secretary, at a time when offloading of ... Business Standard - 22 related articles » |
Sunil Mitra is new disinvestment secretary - Yahoo! India News
New Delhi, July 21 (IANS) The government Tuesday appointed West Bengal Power Secretary Sunil Mitra as the new disinvestment secretary.
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Sunil Mitra is Disinvestment Secy
New Delhi, July 21
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Mr Sunil Mitra, a 1975 batch IAS officer from the West Bengal cadre, as Secretary in the Department of Disinvestment. An official release said that Mr Mitra will fill the vacancy of Dr Rahul Khullar, who has become the Commerce Secretary. The Finance Secretary, Mr Ashok Chawla, was holding additional charge of the Department of Disinvestment after Dr Khullar's exit. Mr Mitra's appoi ntment comes at a time when the Government is preparing a roadmap for disinvestment in Central public sector enterprises.
— Our Bureau
Sunil Mitra, IAS enters the scene dominated by no one else, but PRANAB Mukherjee, the DE Facto Prime Minister of Government of India Incs.
Bengali Brahaminical Mindset is UNIQUE! It is sharper than the CHITPAVAN, Kanyakubj, AYIR and MAITHILY brahmins!
Pranab THRUST for DISINVESTMENT gets momentum as another Elite Brahmin from Bengal haves the HELMS of DIINVESTMENT Department!
Every arrangement is complete for FEEDING the Desi Illuminati and the Killer machine with our Blood and Meat!
Another Brahmin from Bengal, the Railway Minister, MS Mamata Bannerjee supported by PARIVARTANKAMI Intelligentsia ledby Mhashweta Devi, yet another Brahmin declared War to FINISH the Marxists in a Historic Rally in Kolkata yesterday! They detailed Every Genocides and showcased the Families from the VICTIMS, but did NEVER Uttered a single word on Marichjhanpi genocide! Though they used our filmon Marichjhanpi Genocide during the Election Campaign to mobilse the SC Votes. Matuas supported Mamata but Mamata did not care to invite Matua mother BINA PANI Debi. Purna Das Baul was there in the dias. But he had no opportunuty to sing in the SINGING Rally.
Matuas are fighting for the withdrawl of Draconian Citizenship Amendment Act which isused to eject out the Dalit Bengali Refugees out of India!
No, Mamta Never discussed Refugee Problem nor the Brahmin Civil Society or Intelligentsia cares for the Aboriginal Indigenous Black Untouchables Persecuted!
What PRANAB and SUNIL would do with the PSUs, it is well understood!
The finance ministry on Tuesday said that the disinvestment programme will kick off with the dilution of government equity in listed entities, where public holding is less.
On the other hand,Department of public enterprises secretary, R Banerjee, clarified that privatisation means bringing down the government holding to below 51%...
The government would not go for privatisation of profit-making PSUs, secretary with the department of public enterprises, R Banerjee, has said.
The finance ministry on Tuesday said that the disinvestment programme will kick off with the dilution of government equity in listed entities, where public holding is less.
In an interview, finance secretary Ashok Chawla also ruled out using the proceeds of disinvestment to finance fiscal deficit, even as it is expected to widen to about 18-year high of 6.8% of GDP this fiscal.
"Basically, we will first go with the companies which are listed and where stocks in public float is much less — 2%, 5% etc. There is scope for that to increase," Chawla said.
There are at least 12 listed public sector units where public shareholding is less than 10%. They include companies like NMDC, MMTC, Neyveli Lignite, Hindustan Copper.
However, Chawla did not name the companies where disinvestment process could start.
"Now we have had some views, preliminary identification of where it (disinvestment) will be possible, we had some discussions with ministries. It is at that stage," he said.
When asked about the amount government aims to raise from disinvestment, Chawla said, numbers cannot be fixed as yet since these are only preliminary discussions.
"Now what will finally be agreed to? What will the Cabinet approve? What percentage? When it will happen? What will be the market price? That will determine the amount which is a function of number of shares and market price. So, there cannot be a maximum target per se," Chawla said.
Chawla indicated that the advise given by the economic survey about raising Rs25,000 crore from disinvestment every year might not happen this fiscal.
"What the economic survey says you should look at Rs25,000 crore a year, but that may or may not happen every year. In the current year already four months or so have gone. There is time process, through which these companies have to go, so therefore for the current year it is very difficult to say what the amount will be," the finance secretary said.
He also said the proceeds from disinvestment will not be used to fund widening fiscal deficit. "The amount will not be used to finance fiscal deficit, it would be used for high priority social sector programmes," he said.
There were speculations that the government may use part of the proceeds to finance fiscal deficit, but currently the proceeds go to the National Investment Fund (NIF), norms of which do not allow this.
When asked whether NIF norms will be changed, Chawla said, "That I can't say. The Cabinet will decide that. But, either way whether it is spent through NIF or otherwise, it will be spent on flagship social sector programmes," he said.
On the other hand,Department of public enterprises secretary, R Banerjee, clarified that privatisation means bringing down the government holding to below 51%...
The government would not go for privatisation of profit-making PSUs, secretary with the department of public enterprises, R Banerjee, has said.
Speaking at an interactive session organised here by the Indian Chamber of Commerce on Saturday night, he said, "Profit-making PSUs will not be privatised," and clarified that privatisation means bringing down the government holding to below 51%.
Banerjee said that the PSUs which will be categorised under the 'Maharatna' status, will be given full commercial and managerial autonomy.
"The department has recently floated a note and circulated to different ministries for their comment" on it, he said, adding that it was a part of the government's 100-day programme.
Out of the 242 central public sector units, 18 were Navratnas and 54 are Miniratnas, he said. He further said that the CPSUs were contributing to nearly 8% of the GDP.
"Three more PSUs are in the pipeline to get the Navratna status," he added.
The Union government said on Monday the proposed restructuring of state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) ahead of their possible merger has been put on hold.
The Union government said on Monday the proposed restructuring of state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) ahead of their possible merger has been put on hold.
"A consortium of consultants led by ICICI Securities, appointed to advise the government in restructuring MTNL and BSNL for achieving higher synergies in their operations, has suggested some options for restructuring," minister of state for communications Gurudas Kamat told Lok Sabha. "Since the enabling conditions for the suggested options are not appropriate...the restructuring of BSNL and MTNL has been put on hold for the time being," he said.
The government said Tuesday it is looking at listing BSNL and TCIL at the bourses with an initial 10% divestment, but the timeline for this would be decided in consultation with the finance ministry.
The government believes the listing especially of BSNL would help improve the company's image and promote its growth.
"Two of our companies BSNL and TCIL are not yet listed. We would like to list them with 10% divestment in each of them initially. But the timeline will be decided in consultation with the finance ministry," Telecom secretary Siddharth Behura said here.
BSNL sources said there will not be any fresh equity, but only offloading by the government. The company will not get any proceeds from the IPO.
BSNL's net profit has hit a low of Rs104 crore on revenue of Rs34,937 crore, both down from a year earlier, hit by higher staff costs and declining income from services.
The government had planned to sell 10% of BSNL and list its shares last year, but had to defer the proposal after opposition from a major workers union and the stock market meltdown.
TCIL's CMD Rakesh Upadhyay said whatever decision the government takes, the PSU will abide by it. No valuation had been done yet, he said, but the listing would be good for the company.
The BSNL union has meanwhile decided to observe an "Anti-Disinvestment Day" on 22 July protesting the government's plan to sell its shareholding in the company.
"The plea of the management that IPO is necessary to mop up funds for development and expansion is far from the truth, as the BSNL has more than Rs37,000 crore stashed in banks. It can be used for expansion instead of selling shares," V A N Namboodiri, Convenor, Joint Forum of BSNL Associations, said in a statement.
The Joint Forum of BSNL Employees Association/Unions of Executives and Non-executives has said it would be sending telegrams to Prime Minister Manmohan Singh and telecom minister A Raja demanding dropping the IPO and disinvestment proposal, the statement said.
Meanwhile,Planning Commission deputy chairman Montek Singh Ahluwalia today said there would be no more stimulus packages for the economy.
He said the budget had many incentives for the economy. "We don't need any more stimulus packages. We should concentrate on implementing what is there," he told reporters.
The government had earlier cut excise duty by 6 per cent and service tax by 2 per cent in three stimulus packages.
He said it was too early to say that the monsoon would have an adverse impact on the gross domestic product.
"Now it is too early to say about the condition of the monsoon; this is true that so far there is a problem but the impact of this could be ascertained only when we come to know the total deficiency in rainfall; if it is 5-10 per cent deficit then there would not be much impact, he said."
Export sops
The government today said it would provide sops to exporters in the foreign trade policy to be announced in August.
"We will see what best we can do to make Indian exports competitive globally," commerce minister Anand Sharma told reporters.
Anil Ambani intends to invest in airports — and he isn't fazed by the loss of the Mumbai and Delhi airports in a bidding war three years ago.
"We will keenly pursue the upcoming projects for international airports at Navi Mumbai, Pune and Goa," Ambani told shareholders of Reliance Infrastructure here today.
The younger Ambani scion is also betting big on cement and aims to emerge as one of the top five players in this area in the next five years.
Ambani is hoping to realise both ambitions through Reliance Infrastructure (formerly BSES). He said the government wanted to modernise 35 non-metro airports, and it had opted for a public-private participation model for the purpose.
"Taking air travel to India's remoter regions and rural hinterland will throw up the next big opportunity for growth in the aviation sector," he said.
In 2006, Ambani was a serious contender for the modernisation of both the Delhi and Mumbai airports. He, however, lost out in the race to two consortia led by GMR and GVK, respectively.
The younger Ambani, however, sees good potential in the sector as there has been a sharp growth in air traffic in India in the past few years, and existing infrastructure at most airports is inadequate to deal with the surge in traffic.
Ambani said the foray into cement was a natural extension of the power and infrastructure interests of the group.
Reliance Infrastructure is planning to set up cement plants with an aggregate capacity of 20 million tonnes, annually, at a cost of nearly Rs 10,000 crore over the next five years, thus placing it amongst the top five players in the country.
Reliance Capital — the Rs 5,976-crore financial services company owned by Anil Ambani — plans to list its life insurance business.
It could also induct a financial or strategic investor in the life insurance business — the only private player today without a foreign partner.
If Ambani goes ahead with a public offer for Reliance Life Insurance, it will be the first life insurance company to be listed on the bourses.
Reliance Capital is also planning to enter investment banking over the next 12 months to ramp up its presence in institutional broking and private equity.
Addressing the shareholders of Reliance Capital here today, Ambani said the life insurance business had grown rapidly over the past four years and ranked among the top four private life insurers in India.
"We are considering various options to unlock this value from a potential IPO to strategic or financial stake sale, or even a combination of both — subject to necessary approvals. A final decision will be taken shortly, driven by the sole objective of maximising returns for our shareholders," he said.
This is not for the first time that Reliance Capital is looking to unlock shareholder value in one of its business lines. Back in 2007, Eton Park, a global investor, picked up a 5 per cent stake in Reliance Capital Asset Management for Rs 501 crore that valued the latter at Rs 10,000 crore.
Ambani revealed that Reliance Life Insurance recently crossed the milestone of three million policies in force. It is among the top three players in terms of the number of policies issued.
"Despite the growth momentum witnessed by the industry over the past few years, the potential for expansion remains strong, thanks to low penetration levels, attractive demographics, robust economic prospects and increasing investor awareness. We are committed to growing our market share in this business," he said.
KIOCL disinvestment put on hold; MOIL to go ahead
The government has decided to go ahead with the disinvestment of state-owned Manganese Ore India Ltd, even as it shelved plans for further equity dilution in the ailing KIOCL.
"KIOCL is not a case for disinvestment as of now. Currently, its strategic partnership with NMDC is being worked out. Moreover, we will be sending the proposal for disinvestment of MOIL shortly (to Finance Ministry)," Steel Secretary P K Rastogi told reporters.
The government is likely to offload 10 percent equity in MOIL, which is engaged in mining of manganese and production of ferro alloys. 
Meanwhile, the government has put on hold the proposal to offload about 9 per cent equity in the Kudremukh Iron Ore Company Limited (KIOCL), which was closed down last year.
The Finance Ministry had earlier asked its counterpart in the steel ministry to work on divesting stakes in navratna firms NMDC, MOIL and KIOCL, as part of a broader plan to mobilise resources to meet their funding needs.
The government is likely to earn about Rs 102 crore by divesting 10 percent stake in MOIL. It has also been planning to list the company for the past one year now.
The government may also sell a minimum of 8.3 percent stake in already listed NMDC Ltd, which may fetch it over Rs 10,000 crore. It has already offloaded about 1.7 percent of its equity in the country's largest iron ore firm.
About 1 percent stake in Kudremukh Iron Ore Company Ltd (KIOCL) is already offloaded and is listed in regional stock exchanges. As per the 100-day agenda, the government is planning to make it a subsidiary of NMDC and give life to the company shut since last year.
Finance Secretary Ashok Chawla yesterday said that the disinvestment programme will kick off with the dilution of government equity in listed entities, where public holding is less.
Apart from the PSUs under the steel ministry, the government is learnt to have identified MMTC, Coal India Ltd, Hindustan Copper, Oil India Ltd and NHPC for disinvestment.
At the time of presenting the Union Budget for the current fiscal, Finance Minister Pranab Mukherjee said that while retaining the 51 percent stake in the PSUs, the government is committed to the disinvestment programme.
He also added that the public holding in the listed state-run entities should be raised in a phase-wise manner.
The Economic Survey had suggested the government to raise up to Rs 25,000 crore through selling its stake in PSUs.
FIPB to reconsider ByCell's proposal on mobile services
Swiss telecom firm ByCell has approached the Foreign Investment Promotion Board (FIPB) to reconsider its proposal to start telecom services in India and the matter will be taken up later this week.
Earlier, the government had revoked all foreign collaboration approvals given to the firm on security reasons.
ByCell has approached the FIPB against revocation of all foreign collaboration approvals and the matter is listed in the agenda for the next meeting of the board slated for 24 July.
The proposal involved an investment of over Rs2,500 crore in five circles across 13 states in the country.
The decision was taken on the basis of withdrawal of security clearance by the ministry of home affairs.
The ministry had raised objections over concerns regarding the original sources and channel of flow of funds.
ByCell Holding AG, Switzerland, holds 64.66% in ByCell Telecommunications India, while its Indian partner Bitcorp holds 35.34%.
Earlier this year, ByCell had dragged the FIPB and the department of telecom to court over failure to grant the company a telecom license.
After raising the hopes of both subscribers as well as telecom companies, the government is understood to be in no special hurry for auctioning spectrum for 3G mobile services this calendar year.
which it estimates could fetch up to Rs 25,000 crore.
While the ministry has cleared a proposal to divest 10% in unlisted MOIL through an initial public offering (IPO), a proposal to divest 8-20 % stake in listed NMDC (formerly National Mineral Development Corporation) is under its active consideration, said a ministry official. NMDC has a market float of just 1.62%.
If the steel ministry's plan materialises, it could help the government meet the Rs 25,000-crore selloff target set for the current fiscal year by the Economic Survey.
The Union Budget, presented by finance minister Pranab Mukherjee on July 6, refrained from making any major commitment and proposed a modest disinvestment target of Rs 1,120 crore for the current financial year, although the central government clarified later that there could be more selloff proposals later in the year.
3G spectrum auction may happen next year
After raising the hopes of both subscribers as well as telecom companies, the government is understood to be in no special hurry for auctioning spectrum for 3G mobile services this calendar year.
Earlier, indications were that the radio waves would be auctioned by September this year.
According to sources close to the development, there is a feeling that the government may not get the revenue it is looking at if it bids out spectrum in the midst of a global recession — which means mobile users would have to wait a while before they can enjoy faster voice and data services.
The government has projected a revenue of Rs35,000 crore in budget 2009-10 from the auction of spectrum and had last month decided to keep the reserve price at Rs4,040 crore for radio waves for pan-India operations.
An Empowered Group of Ministers (EGoM) chaired by finance minister Pranab Mukherjee has been formed to look into issues relating to 3G spectrum auction and decide on the number of slots to be auctioned in the first phase.
Asked whether the Department of Telecom (DoT) has sought the first meeting of the EGoM, sources said the meeting is likely to take place soon but confirmed that auction of spectrum may happen only in January-February next year.
Going by the proposed reserve price of Rs4,040 crore, the government is expecting to garner over Rs32,300 crore — assuming that all seven players, including BSNL/MTNL, opt for 3G mobile services across India.
Meanwhile, the government today said that 3G spectrum was available in all states except in Rajasthan (nil) and only five MHz in Himachal Pradesh.
Only four southern states and Orissa have maximum 60 MHz each of 3G spectrum while in other states the quantum of spectrum varies between 10 MHz to 50 MHz.
Last month, finance minister Pranab Mukherjee and Raja had met Prime Minister Manmohan Singh and decided to fix the reserve price at Rs4,040 crore, double from what was initially recommended by the DoT.
Initially, six private operators apart from state owned MTNL and BSNL would be allowed to offer 3G services that enables high speed internet, videos and many other value-added services on mobile phone.
While the government would get at least Rs24,240 crore from six operators that are chosen after the bids, PSUs MTNL and BSNL would shell out another Rs8,080 crore assuming no player bids beyond the reserve price.
NEW DELHI: The steel ministry has initiated steps to sell small stakes in profit-making state-run firms Manganese Ore India Ltd (MOIL) and NMDC, Govt to kick off stake sale in two PSUs
While the ministry has cleared a proposal to divest 10% in unlisted MOIL through an initial public offering (IPO), a proposal to divest 8-20 % stake in listed NMDC (formerly National Mineral Development Corporation) is under its active consideration, said a ministry official. NMDC has a market float of just 1.62%.
If the steel ministry's plan materialises, it could help the government meet the Rs 25,000-crore selloff target set for the current fiscal year by the Economic Survey.
The Union Budget, presented by finance minister Pranab Mukherjee on July 6, refrained from making any major commitment and proposed a modest disinvestment target of Rs 1,120 crore for the current financial year, although the central government clarified later that there could be more selloff proposals later in the year.
Road map for PSU disinvestment soon: fin secretary
The government will retain 51% stake in all public sector units
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New Delhi: The Finance Ministry on Wednesday said a road map for disinvestment in public sector units will be brought out in three-four weeks, but there would be no strategic sale.
The government will retain 51% stake in all public sector units, finance secretary Ashok Chawla said.
Finance minister Pranab Mukherjee had on Tuesday, in his reply to the debate on the Union Budget, said: "My ministry has initiated discussions with other ministries and departments for identifying the PSUs" for disinvestment.
The government has proposed to mop up Rs1,100 crore this fiscal from divestment of stake in PSUs.
Pointing out that there is some recovery in the economy, Chawla said at this point of time priority is given to growth.
He said more spending will lead to higher borrowings, but the government will not resort to monetisation of debt. Monetisation of debt is when the government directly borrows from RBI or the central bank subscribing to the government bonds directly.
The finance secretary said the government will borrow from the market right now and later RBI will support it via open market operations, through which the central bank sucks or lends liqudity to the system against government bonds.
The Centre's fiscal deficit is pegged at 6.8% of GDP this fiscal, as expenditure increases and gross tax receipts decline due to continuance of stimulus packages. The government's market borrowing is pegged at about Rs4 lakh crore this fiscal.
Chawla said the market has appetite, as there is lot of liquidity in the system.
NEW DELHI: The government has provided Rs 7,128.54 crore for reviving 15 sick Public Sector Enterprises (PSEs), the Minister of State for Heavy
Industries and Public Enterprises Arun Yadav said on Tuesday.
"Based on the recommendations of the BRPSE (Board for Restructuring of Public Sector Enterprises), revival or restructuring of 15 PSEs has been approved," the minister told Rajya Sabha in a written reply.
Some of the PSEs that received large amounts of funding from the government are Cement Corporation of India Ltd (Rs 1452.24 crore), Heavy Engineering Corporation (Rs 1,368.30 crore), HMT (MT) Ltd (Rs 880.80 crore) and Tyre Corporation of India Ltd (Rs 815.59 crore), according to the data provided by the minister.
The BRPSE recommended 27 PSEs for revival between December 2004 and June 2009, out of which 15 have already been provided funding by the government.
Other sick companies in the list that have received funding included Nagaland Pulp and Paper Co Ltd (Rs 669.42 crore), Instrumentation Ltd (Rs 549.36 crore), Andrew Yule and Co Ltd (Rs 383.33 crore), National Instruments Ltd (Rs 241.86 crore) and Bridge and Roof Co Ltd (Rs 102.92 crore).
Rest of the six companies received funds in the range of Rs 51.37 crore to Rs 214.71 crore.
The minister said the government is contemplating referring Scooters India Ltd to BRPSE.
NEW DELHI: Software exporters Wipro, Tata Consultancy Services and ADA Group firm Reliance Natural Resources are among the companies which have
caught the fancy of fund managers in June, while Punjab National Bank and Indian Oil Corporation lost some flavour.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines.
According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure amongst the favourite picks by the equity funds in the month of May. Besides, MFs were also seen adding a couple of new stocks to the portfolio.
The top new picks for equity funds includes, UCO Bank, Swaraj Mazda, Bhushan Steel and Purvankara Projects, the data compiled by Sharekhan shows.
Besides, in the mid-cap equity funds portfolio stocks of Mahindra Satyam, RNRL, Hindalco Industries and Network 18 Media caught the fancy of the MFs.
In the last month, domestic MFs have made complete exits from the portfolio of equity funds in the scrips of a host of firms including Ansal Properties, HOEC and Wire and Wireless.
Besides, IOC, PNB, Bajaj Auto Finance 
and CEAT are among the mid-cap stocks where some of the funds have made a complete exit.
Some of the popular stocks which caught the fancy of investors in June include the country's most valued firm Reliance Industries, largest lender State Bank of India and private sector ICICI Bank.
Besides, Bharti Airtel, Infosys Technologies, Financial Technologies and pharma firm Lupin have been included amongst the popular stocks in mid-cap funds, according to Sharekhan.
According to the Mutual Fund Monthly Performance Report of Reliance Money the fund houses have increased their exposure in companies like Essar Oil, RNRL, Tata Communications and Infosys.
Besides, the report noted that the companies in which the MFs have decreased their exposure include Adlabs, Hindalco Industries, ITC and Sun Pharmaceutical.
Besides, the "fresh entrants" in the mutual fund buying list as compiled by Reliance Money include Allcargo Global, Ahluwalia Contracts and Swaraj Mazda.
At the end of June, the combined average of Assets Under Management (AUM) of the 35 fund houses in the country increased by Rs 31,863.31 crore or 5 per cent to Rs 6,70,993.13 crore which analysts believe was mainly on the back of increased inflows into fixed-income schemes.
http://economictimes.indiatimes.com/RNRL-TCS-Wipro-among-favourite-picks-of-fund-managers-in-June/articleshow/4807705.cms
The government is considering a proposal to set up a financial sector oversight agency (FSOA) which could function as an umbrella organisation
for all regulators in this sector. The move comes as a section in the government holds the view that the structured approach and enhanced co-ordination among regulators have become necessary in the wake of a global financial meltdown.
Three years ago, a proposal for a super regulator was thwarted by Sebi. The government is avoiding a similar strategy this time in view of the resistance it could face.
According to a senior finance ministry official, the oversight agency will not be a super regulator and will focus on macro-economic issues and defuse inter-regulatory conflicts. "Among other proposals for a co-ordinated approach, the idea of an oversight agency has also been discussed with regulators. But this is not going to be a super regulator, but more of an apex body with representatives of all financial services sector regulators," the official said.
The government is yet to outline the domain of the oversight agency, but has made it clear to the players concerned that the jurisdictions of the existing regulators will stay. The new agency will only act as an umbrella body covering RBI, Sebi, IRDA, Forward Markets Commission and PFRDA. "The idea is not to leave any gap in financial sector regulation. The oversight agency will have a more unified approach, since existing regulators are more focused on their specific areas," the official added.
The government is also considering a proposal for setting up a financial ombudsman office to expand customer literacy, prevent exploitation and arbitrate grievances. According to Anjan Roy, economic advisor, Ficci, though the concept of an oversight agency hasn't worked in the West, it may be a good idea to bring all regulators on a common platform here. "Markets are integrated and any unregulated participant can cause problems, as we have seen during the current crisis. If such an agency comes into existence, it may be able to chalk out a unified approach to tackle such problems," he said.
Senior ministry officials maintain that the government expects full support from the existing regulators, since the new body won't affect their current domains.
Government provides Rs 7,128 crore for revival of 15 PSUs
NEW DELHI: The government has provided Rs 7,128.54 crore for reviving 15 sick Public Sector Enterprises (PSEs), the Minister of State for Heavy
"Based on the recommendations of the BRPSE (Board for Restructuring of Public Sector Enterprises), revival or restructuring of 15 PSEs has been approved," the minister told Rajya Sabha in a written reply.
Some of the PSEs that received large amounts of funding from the government are Cement Corporation of India Ltd (Rs 1452.24 crore), Heavy Engineering Corporation (Rs 1,368.30 crore), HMT (MT) Ltd (Rs 880.80 crore) and Tyre Corporation of India Ltd (Rs 815.59 crore), according to the data provided by the minister.
The BRPSE recommended 27 PSEs for revival between December 2004 and June 2009, out of which 15 have already been provided funding by the government.
Other sick companies in the list that have received funding included Nagaland Pulp and Paper Co Ltd (Rs 669.42 crore), Instrumentation Ltd (Rs 549.36 crore), Andrew Yule and Co Ltd (Rs 383.33 crore), National Instruments Ltd (Rs 241.86 crore) and Bridge and Roof Co Ltd (Rs 102.92 crore).
Rest of the six companies received funds in the range of Rs 51.37 crore to Rs 214.71 crore.
The minister said the government is contemplating referring Scooters India Ltd to BRPSE.
RNRL, TCS, Wipro among favourite picks of fund managers in June
NEW DELHI: Software exporters Wipro, Tata Consultancy Services and ADA Group firm Reliance Natural Resources are among the companies which have
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines.
According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure amongst the favourite picks by the equity funds in the month of May. Besides, MFs were also seen adding a couple of new stocks to the portfolio.
The top new picks for equity funds includes, UCO Bank, Swaraj Mazda, Bhushan Steel and Purvankara Projects, the data compiled by Sharekhan shows.
Besides, in the mid-cap equity funds portfolio stocks of Mahindra Satyam, RNRL, Hindalco Industries and Network 18 Media caught the fancy of the MFs.
In the last month, domestic MFs have made complete exits from the portfolio of equity funds in the scrips of a host of firms including Ansal Properties, HOEC and Wire and Wireless.
| Also Read |
| → MFs see inflow of Rs 1,500 cr in equity schemes in June |
| → Liquid funds may now fetch less for companies |
| → SC to decide on 'dividend stripping' by mutual funds |
| → Reliance Mutual Fund declares dividend for two schemes |
Besides, IOC, PNB, Bajaj Auto Finance
Some of the popular stocks which caught the fancy of investors in June include the country's most valued firm Reliance Industries, largest lender State Bank of India and private sector ICICI Bank.
Besides, Bharti Airtel, Infosys Technologies, Financial Technologies and pharma firm Lupin have been included amongst the popular stocks in mid-cap funds, according to Sharekhan.
According to the Mutual Fund Monthly Performance Report of Reliance Money the fund houses have increased their exposure in companies like Essar Oil, RNRL, Tata Communications and Infosys.
Besides, the report noted that the companies in which the MFs have decreased their exposure include Adlabs, Hindalco Industries, ITC and Sun Pharmaceutical.
Besides, the "fresh entrants" in the mutual fund buying list as compiled by Reliance Money include Allcargo Global, Ahluwalia Contracts and Swaraj Mazda.
At the end of June, the combined average of Assets Under Management (AUM) of the 35 fund houses in the country increased by Rs 31,863.31 crore or 5 per cent to Rs 6,70,993.13 crore which analysts believe was mainly on the back of increased inflows into fixed-income schemes.
| Other stories in this section |
| Other News |
Agriculture: Secret of Modi's success
When Narendra Modi won the 2007 state election in Gujarat, the media focused on Hindu-Muslim issues. Some journalists highlighted rapid However, an excellent new study suggests that the secret of Modi's success lay in agriculture, an area completely neglected by political analysts. Ashok Gulati, Tushaar Shah and Ganga Sreedhar have written an IFPRI paper, 'Agricultural Performance in Gujarat Since 2000', which highlights something few people know — that Gujarat's agricultural performance is by far the best in India. Between 2000-01 and 2007-08 agricultural value added grew at a phenomenal 9.6% per year (despite a major drought in 2002). This is more than double India's agricultural growth rate, and much faster than Punjab's farm growth in the green revolution heyday. Indeed, 9.6% agricultural growth is among the fastest rates recorded anywhere in the world. That drives home the magnitude of Gujarat's performance. Since the bulk of Gujarat's population is still rural, this mega-boom in agriculture must have created millions of satisfied voters. Hence it must have played a major role in Modi's victory. Yet I did not see a single media analyst mention it. Gujarat is drought prone, with 70% of its area classified as semi-arid and arid. Although journalists focus on the Sardar Sarovar Project, its canal network is hopelessly incomplete, and currently irrigates only 0.1 million hectares. No less than 82% of irrigation in the state comes from tubewells, which have depleted groundwater. By the mid-1990s, groundwater extraction exceeded natural recharge in 31 talukas, and 90% of the safe extraction yield in another 12 talukas. In the 1990s, the state along with grass-roots organisations embarked on decentralised water harvesting. This included the building of check dams, village tanks, and bori-bunds (built with gunny sacks stuffed with mud). During the 2007 election campaign, the Congress slogan was 'chak de, chak de Gujarat'. I heard Modi say at a rally that his reply was "check dam, check dam Gujarat." I did not realise at the time how significant this really was. The IFPRI study says that 10,700 check dams were built up to 2000, and helped drought-proof 32,000 hectares. That sounds a lot. But subsequently, under Modi, Gujarat has built ten times as many check dams! He could well say 'chak de, check dam'. These have played a big role in the agricultural growth of Saurashtra and Kutch (aided, it must be said, by bountiful monsoons in the last five years). Better water availability has also increased milk and livestock production. Gujarat has promoted drip irrigation, badly needed to conserve water in semi-arid districts. Like other states, Gujarat offers subsidies and loans, but it also fast-tracks and simplifies procedures. Farmers contribute 5% initially. Then a state-owned company provides 50% as subsidy, and arranges a bank loan for the balance of 45%. One lakh acres have been covered by drip irrigation so far. Like the Sardar Sarovar Project, drip irrigation's total irrigation potential is far higher. Research shows that rural roads are the most important investment for agriculture. Gujarat has one of the best rural road networks in India, and 98.7% of villages are connected by pukka roads. Modi's Jyotigram scheme for power has provided regular, high-quality electricity to villages, greatly helping farming. Jyotigram provides separate electric feeders for domestic use and pump-sets. This permits the state to supply round-the-clock domestic supply, while limiting agricultural supply to eight hours a day (which is continuous and of constant voltage). This has facilitated a switch to high-value crops like mango, banana and wheat, which need assured water. Constant voltage has protected farmers from damage to pump-sets earlier caused by fluctuating voltage. Continuous power for non-agricultural uses has spurred diversification into non-farm activities, vital for rural growth. The irrigated area has expanded at the rate of 4.4% per year. The fastest growth in crops has been in wheat, followed by cotton and fruits and vegetables. Private seed companies have brought in new technology for several crops, ranging from bajra to castor, but above all in Bt cotton. More than 20 Bt cotton varieties are now produced by 30 seed companies. In his election campaign, Modi waxed eloquent about Gujarat's success in cotton. He declared that Gujarat was now famous in China as the producer and exporter of Bt cotton, and he said this was a source of Gujarati pride. (Let me add that this is a great improvement on his earlier notion of Hindu pride, exemplified in his 'gaurav yatra' after Godhra). Gujarat has only 26% of India's cotton area, but 35.5% of its production, thanks to high yields. Rising world prices have also helped, and been buttressed by a huge jump in the minimum, support price for cotton. New institutional arrangements like contract farming have helped improve marketing. Gujarat's famous dairy co-operatives (everybody loves Amul) have provided a stable basis for milk and livestock development. But the private sector is emerging as an important player too. Corporates have entered agro-exports, agro-processing, organised food retail, and rural infrastructure development. Vimal Dairy and Vadilal Industries have entered the dairy sector. Agrocel has taken up organic farming of cotton and sesame seeds. Atreyas Agro and Godrej Agrovel plan contract cultivation of jatropha and palm oil respectively. Food retail chains like Food Bazaar, Reliance Fresh and Spencer have sprung up in Gujarat's cities, sourcing produce from farmers directly. The state has helped catalyse production, notably in water harvesting. It has worked with NGOs and companies to bring the best technology to farmers. Gujarat Agricultural University has been split into four separate universities, helping strengthen R&D. Can this be replicated in other states? Much of it can. Jyotigram looks least likely to be replicated because it abandons the free-but-unreliable rural power that politicians regard as vote-winners in most states. Many states also prefer large irrigation projects to small water-harvesting ones, since bigger projects translate into bigger kickbacks. Yet Modi's electoral success points to a new way of winning rural votes. Others should sit up and take notice. | |
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Govt revisits umbrella financial regulator plan
The government is considering a proposal to set up a financial sector oversight agency (FSOA) which could function as an umbrella organisation
Three years ago, a proposal for a super regulator was thwarted by Sebi. The government is avoiding a similar strategy this time in view of the resistance it could face.
According to a senior finance ministry official, the oversight agency will not be a super regulator and will focus on macro-economic issues and defuse inter-regulatory conflicts. "Among other proposals for a co-ordinated approach, the idea of an oversight agency has also been discussed with regulators. But this is not going to be a super regulator, but more of an apex body with representatives of all financial services sector regulators," the official said.
The government is yet to outline the domain of the oversight agency, but has made it clear to the players concerned that the jurisdictions of the existing regulators will stay. The new agency will only act as an umbrella body covering RBI, Sebi, IRDA, Forward Markets Commission and PFRDA. "The idea is not to leave any gap in financial sector regulation. The oversight agency will have a more unified approach, since existing regulators are more focused on their specific areas," the official added.
The government is also considering a proposal for setting up a financial ombudsman office to expand customer literacy, prevent exploitation and arbitrate grievances. According to Anjan Roy, economic advisor, Ficci, though the concept of an oversight agency hasn't worked in the West, it may be a good idea to bring all regulators on a common platform here. "Markets are integrated and any unregulated participant can cause problems, as we have seen during the current crisis. If such an agency comes into existence, it may be able to chalk out a unified approach to tackle such problems," he said.
Senior ministry officials maintain that the government expects full support from the existing regulators, since the new body won't affect their current domains.
Stake sales in 3 PSUs could fetch at least Rs26,000 cr
Government can raise at least Rs26,500 crore from minority stake sales in state-owned NMDC Ltd, KIOCL and Manganese Ore (India) Ltd
Siddharth Zarabi / CNBC-TV18
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New Delhi: The government can raise at least Rs26,500 crore from minority stake sales in state-owned NMDC Ltd, Kudremukh Iron Ore Co. Ltd (KIOCL) and Manganese Ore (India) Ltd.
Finance secretary Ashok Chawla, who is also the secretary of the disinvestment department in the finance ministry, has held discussions to consider the modalities of the stake sales in these three companies earlier this week, said people familiar with the development.
No final decision has been taken yet but the people said on condition of anonymity that six public-sector firms listed on stock exchanges, in which the government holds at least 90% stake, are being considered for additional equity offers to the public. These include MMTC Ltd, Engineers India Ltd, Hindustan Copper Ltd and Neyveli Lignite Corp. Ltd.
In the case of NMDC, which is listed with a 1.62% public shareholding, the government is looking at offloading between 8.38% and 20%. If it were to offload 8.38% to meet market regulator Securities Exchange Board of India's stipulation of a minimum 10% threshold public shareholding in listed public-sector firms, the government would raise Rs10,351 crore based on its closing price of Rs311.55 on 13 July.
However, if the government chooses to offload an additional 18.38%, taking public shareholding to 20%, it can raise around Rs24,704 crore, thus exceeding expectations of Rs10,000-15,000 crore as disinvestment receipts in 2009-10.
Similarly, the government is looking at raising up to Rs1,713 crore by offloading an additional 19% in KIOCL, taking the public float to 20%.
60-70% industrial workers in Bengal, Gujarat are contract labour
No specific working hours: A file picture of labourers at a brick kiln.
| Research finds violation of minimum wage, labour laws. |
No specific working hours: A file picture of labourers at a brick kiln.
Our Bureau
New Delhi, July 21 In West Bengal and Gujarat, 60-70 per cent of the workforce in manufacturing industries has been found to be contract labour, which is thrice the official estimate.
Moreover, minimum wage and other contract labour laws were widely found violated.
According to a research conducted by the Institute of Economic Growth (IEG) for the international research body, Improving Institutions for Pro-poor Growth (IPPG), many workers had no specific working hours or medical benefits, very little earned leave and few safety precautions for hazardous work.
Dr Dibyendu Maiti, who led the IEG research team, says, "India's Annual Survey of Industries, the official record of industrial statistics, puts the share of contract labour in organised manufacturing at 15-26 per cent across these States. We found the share to be much higher in our sample States. This may be because we undertook extensive fieldwork. Most official estimates of contract labour are based on secondary data, where it is likely that contract labour is under-reported by employers."
Lack of ESI cover
In Gujarat none of the contract workers surveyed had Employee's State Insurance (ESI), while in West Bengal, one in four workers received the benefit.
Contract labour regulations were not effective even in West Bengal, where such workers are largely recruited and controlled via trade unions.
Also, workers in West Bengal were less likely to be paid the minimum wage than in Gujarat.
"Contract labour regulation exists and should be enforced effectively. Our study suggests the establishment of a vigilance committee, involving representatives from the Labour Department and the workers' community, to improve governance and transparency," said Dr Maiti.
According to IPPG Joint Director, Prof Kunal Sen, effective political action is needed to ensure economic growth is more inclusive.
"Since Gujarat and West Bengal are both heavily industrialised, and, therefore, representative of manufacturing across India, this study has significant implications nationwide.
It also suggests that India's economic success is not improving the lives of contract and informal workers, who form the largest section of the economy," he said.
Kingfisher owes Rs 950cr to PSU oil firms
NEW DELHI: Vijay Mallya-owned Kingfisher Airlines owes over Rs 950 crore to state-run oil companies in unpaid jet fuel bills, petroleum minister Kingfisher owed "Rs 37.36 crore to Indian Oil Corp, Rs 598.78 crore to Hindustan Petroleum Corp Ltd and Rs 314.32 crore to Bharat Petroleum Corp Ltd," he said in a written reply to a question in Rajya Sabha here. "The outstanding dues of Kingfisher Airlines as well as other airlines had started accumulating during the year 2008-09 because of the sharp rise in prices of Aviation Turbine Fuel in line with the crude oil prices to record highs during April to September," he said. In case airlines fail to pay their dues, oil marketing companies take action for recovery of dues in line with the mutually agreed commercial terms, Deora said. "These include putting on 'cash and carry' and interest is recovered on all overdue payments." "The issue of outstanding dues was also taken up with the Ministry of Civil Aviation which has advised the airlines to clear their outstanding dues promptly," Deora added. | ||
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| More Stories from this section | ||
Public Sector Undertaking
A lot of Public Sector Undertakings (PSU) under the aegis of Government of India regularly provide for employment opportunities in various areas. Job seekers can apply to these undertakings, according to their required job profile and area of interest.
Here's a list of the recruitment web pages providing recruitment related information for some of the PSU's in India:
A
- Air India Limited (External website that opens in a new window)
- Airports Authority of India (External website that opens in a new window)
- Artificial Limbs Manufacturing Corporation of India (ALIMCO)
B
- Bengal Chemicals and Pharmaceuticals Limited (BPCL) (External website that opens in a new window)
- Bharat Coking Coal Limited (BCCL)
- Bharat Dynamics Limited (BDL) (External website that opens in a new window)
- Bharat Earth Movers Limited (BEML) (External website that opens in a new window)
- Bharat Electronics Limited (BEL) (External website that opens in a new window)
- Bharat Heavy Electricals Limited (BHEL) (External website that opens in a new window)
- Bharat Refractories Limited (BRL)
- Bharat Sanchar Nigam Limited (BSNL) (External website that opens in a new window)
- Bharatiya Nabhikiya Vidyut Nigam Limited (BHAVINI) (External website that opens in a new window)
- Biecco Lawrie Limited
- Bramhaputra Valley Fertilizer Corporation Limited (BVFCL) (External website that opens in a new window)
- Broadcasting Engineering Corporation of India Limited (BECIL)
C
- Cement Corporation of India Limited (CCI)
- Central Coalfields Limited (CCL)
- Central Cottage Industries Corporation of India Limited
- Central Mine Planning and Design Institute Limited (CMPDI)
- Central Warehousing Corporation (CWC)
- Centre for Railway Information Systems (CRIS)
- Coal India Limited (CIL)
- Cochin Shipyard Limited (External website that opens in a new window)
- Container Corporation of India Limited (CONCOR) (External website that opens in a new window)
- Cotton Corporation of India Limited (CCI)
D and E
- Dredging Corporation of India
- Educational Consultants India Limited (EDCIL)
- Engineers India Limited (EIL) (External website that opens in a new window)
- Ennore Port Limited (External website that opens in a new window)
- Export Credit Guarantee Corporation of India Limited (ECGC)
F and G
- FCI Aravali Gypsum and Minerals India Limited (FAGMIL)
- Ferro Scrap Nigam Limited (FSNL)
- Fertilisers and Chemicals Travancore Limited (FACT) (External website that opens in a new window)
- Food Corporation of India (FCI)
- Garden Reach Ship Builders and Engineers Limited (GRSE) (External website that opens in a new window)
- Gas Authority of India limited (GAIL) (External website that opens in a new window)
- Goa Shipyard Limited (External website that opens in a new window)
H
- Handicrafts and Handlooms Export Corporation (HHEC)
- Heavy Engineering Corporation Limited (HEC)
- Heavy Water Board (HWB)
- Hindustan Aeronautics Limited (HAL) (External website that opens in a new window)
- Hindustan Antibiotics Limited (HAL)
- Hindustan Copper Limited (HCL)
- Hindustan Insecticides Limited (HIL)
- Hindustan Latex Limited (HLL)
- Hindustan Petroleum Corporation Limited (HPCL)
- Hindustan Prefab Limited
- HMT Limited
- Hospital Services Consultancy Corporation (I) Limited (HSCC) (External website that opens in a new window)
- Housing and Urban Development Corporation Limited (HUDCO)
I
- India Trade Promotion Organisation (ITPO)
- Indian Airlines Limited (IA)
- Indian Oil Corporation Limited (IOCL)
- Indian Railway Catering and Tourism Corporation Limited (IRCTC)
- Indian Rare Earths Limited
- Indian Renewable Energy Development Agency Limited (IREDA)
- Indian Telephone Industries Limited (ITI) (External website that opens in a new window)
- Instrumentation Limited, Kota
- IRCON International Limited
K, L and M
- Konkan Railway
- Kudremukh Iron Ore Company Limited (KIOCL)
- Lubrizol India Limited (LIL)
- Mahanagar Telephone Nigam Limited (MTNL)
- Manganese Ore (India) Limited (MOIL)
- Mazagon Dock Limited
- MECON Limited
- Metro Railway, Kolkata
- Mineral Exploration Corporation Limited (MECL)
- Minerals and Metals Trading Corporation Limited (MMTC) (External website that opens in a new window)
- Mishra Dhatu Nigam Limited (MIDHANI)
- MSTC Limited
- Mumbai Railway Vikas Corporation Limited (MRVC)
N
- National Aluminium Company Limited (NALCO)
- National Buildings Construction Corporation Limited (NBCC)
- National Fertilizers Limited (NFL)
- National Film Development Corporation (NFDC)
- National Handloom Development Corporation Limited (NHDC)
- National Hydroelectric Power Corporation Limited (NHPC)
- National Insurance Company Limited (NICL)
- National Mineral Development Corporation Limited (NMDC) (External website that opens in a new window)
- National Minorities Development and Finance Corporation (NMDFC)
- National Projects Construction Corporation Limited (NPCC)
- National Research Development Corporation (NRDC)
- National Scheduled Castes Finance and Development Corporatioin (NSFDC)
- National Scheduled Tribes Finance and Development Corporation (NSTFDC)
- National Small Industries Corporation Limited (NSIC) (External website that opens in a new window)
- National Textile Corporation Limited (NTC)
- National Thermal Power Corporation Limited (NTPC)
- Neyveli Lignite Corporation Limited (NLC) (External website that opens in a new window)
- North Eastern Electric Power Corporation (NEEPCO)
- Northern Coalfields Limited (NCL)
- Nuclear Fuel Complex (External website that opens in a new window)
- Nuclear Power Corporation of India Limited (NPCIL) (External website that opens in a new window)
O and P
- Oil and Natural Gas Corporation Limited (ONGC) (External website that opens in a new window)
- Oil India Limited (OIL) (External website that opens in a new window)
- Pawan Hans Helicopters Limited (PHHL) (External website that opens in a new window)
- Power Finance Corporation Limited
- Power Grid Corporation of India Limited (POWERGRID)
- Power Trading Corporation of India Limited (PTC) (External website that opens in a new window)
- Praga Tools Limited
- Projects and Development India Limited (PDIL)
- Pyrites, Phosphates and Chemicals Limited (PPCL)
R
- RailTel Corporation of India Limited (External website that opens in a new window)
- Railway Electrification Project Circle (REPC)
- Rajasthan Atomic Power Station / Project
- Rashtriya Chemicals and Fertilizers Limited (RCF)
- Rashtriya Ispat Nigam Limited (RINL) (External website that opens in a new window)
- RITES Limited (External website that opens in a new window)
- Rural Electrification Corporation Limited
S
- Semiconductor Complex Limited (SCL) (External website that opens in a new window)
- Shipping Corporation of India Limited (SCI) (External website that opens in a new window)
- South Eastern Coalfields Limited (SECL)
- Sponge Iron India Limited (SIIL)
- State Trading Corporation of India Limited (STCI)
- Steel Authority of India Limited (SAIL) (External website that opens in a new window)
T, U and W
- Telecom Factory, BSNL
- Telecom Stores Organisation
- Telecommunications Consultants India Limited (TCIL)
- Uranium Corporation of India Limited (UCIL)
- Water and Power Consultancy Services (India) Limited (WAPCOS) (External website that opens in a new window)
- Western Coalfields Limited (WCL)
Source: National Portal Content Management Team, Reviewed on: 14-03-2008 
Govt raises 2008-09 foodgrain output estimates by 4 mt
The Minister for Agriculture, Mr Sharad Pawar
Corn prices ease on hopes of monsoon revival
'Self-sufficiency in food production within reach'
Basmati plantings get a boost despite deficient monsoon
Kharif sowing in full swing
| Record production in wheat, rice, maize and gram. |
The Minister for Agriculture, Mr Sharad Pawar
Our Bureau
New Delhi, July 21
The Centre has revised upwards its foodgrain production estimates for 2008-09 by over four million tonnes.
The Agriculture Ministry's 'Fourth Advance Estimate', finalised last week, puts the country's total foodgrain output for 2008-09 at an all-time-high of 233.88 million tonnes (mt), bettering the earlier record of 230.78 mt achieved in 2007-08.
The latest 233.88 mt figure is also more than the 'Third Advance Estimate' of 229.85 mt and the 'Second Advance Estimate' of 227.88 mt, released in May and February, respectively.
Much of the upward revision is on account of wheat and maize.
The 2008-09 wheat crop's size is now reckoned at a new high of 80.58 mt, compared with the preceding estimates of 77.63 mt and 77.78 mt. The reassessment follows an unprecedented 25.14 mt of procurement by Government agencies, surpassing the 22.69 mt that was mopped up from the 2007-08 crop of 78.57 mt.
The output estimates of maize have likewise been raised from 17.04 mt (February) and 18.48 mt (May) to a record 19.29 mt. The other crops whose production is seen to have touched all-time-highs in 2008-09 are rice (99.15 mt), gram (7.05 mt) and castorseed (1.12 mt).
Progressive policies
The Agriculture Minister, Mr Sharad Pawar, has sought to credit the record output achieved in 2008-09 to the "progressive policies" adopted by the United Progressive Alliance Government to give a boost to the farm sector.
During the term of the previous National Democratic Alliance, the country's foodgrain production went up from 203.61 mt in 1998-99 to 213.19 mt in 2003-04, i.e. only 9.58 mt or 4.7 per cent over five years.
But in the five-year tenure of the UPA, output rose to 233.88 mt, i.e. by 20.69 mt or 9.7 per cent, Mr Pawar said while replying to the debate on his Ministry's Demand for Grants in the Lok Sabha on Monday.
Among the measures that the Minister identified as having given a thrust to farm growth were the significant increases in minimum support prices of crops and revival of public investment in agriculture over the last five years.
Current year trend
The current year may, however, reverse the trend of four consecutive years of production increase. If present kharif season sowing and weak monsoon precipitation levels are any indication, 2008-09 will be a tough act to follow. The high base of 2008-09 could even translate into a low, if not negative, agricultural growth for 2009-10, thereby, impacting the overall GDP numbers as well.
Production prospects
A clearer idea of the production prospects for 2009-10 would be available by September, when the Agriculture Ministry will come out with its 'First Advance Estimates' of the kharif crop that is currently being sown.
The subsequent estimates would give a more complete picture, as they will also capture the rabi crop planted towards the winter.
Sugarcane
The difference in production between the various estimate stages is best exemplified by sugarcane.
In its 'First Advance Estimate', the Ministry projected the 2008-09 sugarcane crop at 294.66 mt, which got successively downgraded to 290.45 mt, 289.23 mt and 271.25 mt in the following three estimates.
This is opposite to what has happened in wheat and maize.
Related Stories:
Corn prices ease on hopes of monsoon revival
'Self-sufficiency in food production within reach'
Basmati plantings get a boost despite deficient monsoon
Kharif sowing in full swing
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Bengal faces an exodus of bureaucrats
At least eight principal secretaries in the state government, including two additional chief secretaries, are looking to leave
Romita Datta
Kolkata: West Bengal's Left Front government, trying to come to terms with its worst electoral performance in the state in 32 years, is facing a new problem: an exodus of senior civil servants who want to move on to other, hopefully less stressful, postings.
At least eight principal secretaries in the state government, including two additional chief secretaries, are looking to leave. That makes for about one-sixth of the state administration officials with the rank of principal secretary.
Most of them are "headed for Delhi" to work in the Union government, said S.N. Haque, principal secretary in the personnel and administrative reforms department, who is responsible for human resources. "We have already issued no objections to five applicants," he said.
The flight of bureaucrats from the state government follows the April-May general election that saw the Left Front's tally of Lok Sabha seats from West Bengal drop to 15, from 35 in 2004.
Among some civil servants in a state that has for long been a Left bastion, there's no mistaking a sense of frustration.
"If you work in Delhi, you can deliver because of better work culture. Also, in Delhi, there isn't much political interference... Here, things don't move," said urban development secretary P.K. Pradhan, who is looking to leave.
Not only are bureaucrats looking to leave Kolkata's Writers Buildings, the state government secretariat, even those on deputation in New Delhi are not willing to return, according to Haque, an officer from the 1982 batch of the Indian Administrative Service, or IAS.
"The terms of at least two officers from West Bengal (who were on deputation) have ended, but they don't want to come back," said Haque. "There is no charm working in West Bengal. I am a principal secretary, and head two departments. Yet, I need the clearance of the finance department even to spend Rs500, whereas even a joint secretary in the government of India has the power to sign an international agreement."
Two of those looking to leave—environment secretary M.L. Meena and commerce and industry secretary Sabyasachi Sen—are vying for the chairman's post at Kolkata Port Trust, which fell vacant after Anup Chanda's term ended on 24 June.
The two additional chief secretaries looking to leave the state government are Sunil Mitra and Sumantra Choudhury, who are also principal secretaries in the power and transport departments, respectively. Both have obtained clearances from Writers Buildings, and are likely joining the Union government, said Haque.
Others looking to leave are Sumanta Chaudhuri, principal secretary in the department of public enterprises; Rajiva Sinha, who heads the department for food processing industries and horticulture; and M.V. Rao, former managing director of West Bengal Industrial Development Corp. Ltd (WBIDC), who is the principal secretary in the department for animal resources development.
Even P.R. Baviskar, an officer from the 1985 batch who is the chief executive of the Kolkata Metropolitan Development Authority, has applied for two-year study leave. His leaving means the urban development department will be losing its two most important officers, including Pradhan.
But others tried to play down the difficulties faced by bureaucrats working in Kolkata.
"I don't want to add to the controversy… I have only two years to retire," said Mitra. "It's a personal decision (to move to New Delhi). I was empanelled to join the Central government a year ago."
"I think West Bengal offers a lot of challenges, and IAS officers are still willing to take that challenge," added Mitra, who is also the president of the Indian Administrative Service Association, West Bengal.
"All IAS officers aspire to work with the Union government," said Sen, who with Rao shot to the limelight thanks to the state government's drive for industrialization.
Rao, initially the director of industry, was appointed managing director of WBIDC after he played a key role in land acquisition in Singur, where Tata Motors Ltd was to set up a small-car factory. But after the company pulled the plug on the project, Rao was replaced.
"It's natural for IAS officers to move to Delhi after spending some years with a state government," said Chaudhuri, who heads the public enterprises department and has been struggling to restructure state-owned companies.
"Transfers are a routine thing," said Meena, who has been facing criticism for taking too long to grant clearances to industrial projects. "But people are talking about it this time because even officers who were considered close to the state government are looking to leave," he added.
Bureaucrats in Kolkata have been facing flak from politicians after the Left's 20-seat loss in the 15th general election.
Speaking at Mint's Clarity Through Debate Conclave on 19 June, West Bengal's finance minister Asim Dasgupta said industrialists were facing "real problems with procedural delays" in obtaining clearances from the state government. "We have to change, no doubt about it."
romita.d@livemint.com
http://www.livemint.com/2009/06/30002408/Bengal-faces-an-exodus-of-bure.html?h=B
I finally have to beg for food. Straight from the airport to the meeting, the late flight does away with lunch. With a tummy that threatens to growl out of control, I stop Nachiket Mor mid-word—not an easy task, I assure you—to ask if there is some food in the guest house. I'm in Chennai to look at what IFMR Trust—where Mor is chairman of the governing council—is doing that it gets customized financial services to the remotest Indian.
While organized retail chains in urban India are shutting stores and scaling down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural stores to its existing chain of 300 in two years
http://www.livemint.com/2009/06/30002408/Bengal-faces-an-exodus-of-bure.html?h=B
- Posted: Tue, Jul 21 2009. 10:53 PM IST
- Columns
-
Wealth managers for rural India, anyone?
By 2015, three million villagers will be able to access wealth management services without travelling for more than 3-7km
Expense Account | Monika Halan
Mor pushes a Nutribar at me and a cup of coffee, and goes right back to his presentation. Soon we are deep into the innards of a software that matches individual profile to a set of financial products. Key in a simple personal accident policy to the financial life cycle of a village daily wager and see the rest of his life's financial chart move from red to blue, from despair to hope.
Also Read Monika Halan's earlier columns
Clearly, the man is beyond hunger, thirst, heat or cold. The guest house is cooking without air-conditioning and only I seem to be noticing it. When he is not looking, I quickly put on the fan. He's in Mission Mode India 2020. He is mentoring IFMR Trust to develop a model that is high on responsibility and low on costs, that takes into account the unique features of the last-mile family in product construction to develop a system in financial services that will move the bottom of the pyramid out of decades of status quo.
And I am in search for the holy grail of a model that is fair to the customer, distributor and product manufacturer. What I hear about the Kshetriya Gramin Financial Services (KGFS) operation of the trust is intriguing. The idea is to set up a branch network that offers a full suite of financial services, including credit, investments and insurance, to those who are outside the formal banking system.
While microcredit, in the joint-lending group, or self-help group route, will first give out credit, the idea is to leverage the relationship to sell products designed specially to solve local problems rather than vend products that are first designed and then sold.
In the final model, a sophisticated software will take in the unique details of each person that the rural wealth manager will key in and spit out a list of products that this person can afford and must buy. The wealth manager is an employee and not a fee-for or commission agent.
Big deal? Well, read on. First, the entire operation is pivoted on the use of technology, with VSAT and broadband linking each branch to the central office. Two, each member will carry a fingerprint-using biometric card that is fully portable across all the branches of the KGFS network. Three, probably the most important part, KGFS takes upon itself all responsibility of a product whose outcome is harmful to the customer.
The argument is that just as a doctor is liable for wrong medical advice, so also the seller of financial products should be liable for selling a product that has a bad outcome. For example, a daily wager pawned her gold jewellery to take a loan. She was the sole earning member of a family of five. She died. KGFS is yet to begin offering a life cover but as a full-service wealth manager, it took this as its own fault for not having a life cover in place.
Says Bindu Ananth, president of IFMR Trust: "We returned the gold, not out of a sense of pity, but out of a sense of responsibility."
An overnight train journey later, Ananth and I are in bustling Thanjavur, the headquarters for the first roll-out of this plan. An hour into the rice-bowl hinterland and we are at the first branch at Karambayam that is just over a year old.
A group of women, who are on their second cycle of taking a joint loan, drop by to make the EWI (equated weekly instalment). The cows they bought last year with a loan from KGFS are now an asset and they are here for more. They nudge Ananth into offering the gold coin-linked saving product in a different way.
While we are chatting, a man cycles up. Very matter-of-factly, he buys a Rs1 lakh personal accident cover for Rs40. His wife has been a borrower with this branch and he feels confident enough to make this financial transaction that I see my urban friends sweating over.
Two other projects—one in Uttrakhand and another in Orissa—are off the ground as well. By 2015, three million villagers will be able to access wealth management services without travelling for more than 3-7km. The full commercial roll-out of the experiment is still to happen. But if it does, this will be fairly inspirational to many others in the financial services space who are trying to move the agent up the value chain to provide real service.
Imagine dealing with a wealth manager who does not earn commissions or fees and will be liable for a wrong sale if you have a bad outcome when you buy a product he recommends. Quite path breaking.
And yes, I do finally manage to eat. Dinner at the local tiffin place called Sangeetha. Incidentally, its breakfast of idlis and coffee can give Shakthi Mess, a tiny food-is-serious-business thatched-roofed lunch kitchen in Pattukotai in Thanjavur district, tough competition. Both redefine South Indian food for me. Or maybe that Nutribar has put food in perspective.
Monika Halan is a certified financial planner and is currently working as adviser, Pension Fund Regulatory and Development Authority. Your comments and personal finance queries are welcome at expenseaccount@livemint.com
http://www.livemint.com/2009/07/21225307/Wealth-managers-for-rural-Indi.html
http://www.livemint.com/2009/07/21225307/Wealth-managers-for-rural-Indi.html
- Economy and Politics
-
A rural retailer's green shoots
Rasul Bailay
New Delhi
http://www.livemint.com/2009/07/21225400/A-rural-retailer8217s-green.html
Karan Vir comes calling the agronomist—or agricultural specialist—at the Hariyali Kisaan Bazaar store with a yellowing paddy plant (plucked out from his field), its roots covered in sand, in a small plastic bag.
Click here to watch video
It doesn't take the specialist long to discover the problem. He advises Vir to add sulphur to the soil to counter excess salt being generated by the use of groundwater for irrigation. The 34-year-old farmer buys a 15kg bag of the chemical, but his attention is now captured by a shiny black Hero bicycle kept on display along with hundreds of other grocery and lifestyle products.
On average, 300 villagers such as Vir, daily visit the Hariyali store in this village, about 35km east of Karnal, an agricultural town in Haryana. Most visit to seek advice on agricultural problems and buy farm products. And about 30% of them end up buying other products. Some buy sugar. Some buy shirts. The store manager says sales are up 40% compared with last year.
In demand: (top and above) The Hariyali store in Ladwa. On average, 300 villagers visit the store daily. Ramesh Pathania / Mint
While sales have shrunk over the last one year or so for almost all the so-called modern retail chains in urban areas on the back of an economic slowdown that affected consumer spending, rural India has witnessed swelling sales of everything from mobile phones to motorcycles.
Hariyali currently operates a network of 300 stores in eight states and plans to increase the number of outlets to 500 over the next two years.
That number is significant because of the corresponding numbers for modern retail chains in urban India. The country's largest discount-store operator, Subhiksha Trading Services Ltd, shuttered its nationwide network of 1,600 stores amid severe cash crunch. The country's largest listed retailer Pantaloon Retail (India) Ltd has seen its same-store sales at home segment retailing decline over the last six months and chains run by Aditya Birla Retail Ltd, Reliance Retail Ltd, Spencer's Retail Ltd have shrunk as the companies closed stores and trimmed their expansion plans.
Also Read The Bharat Shining Series
A booming market
A thriving agricultural economy and high food prices—resulting in farmers earning more for their produce—helped the rural economy thrive even as that in large cities and towns slowed.
Rural families spent around 63% of their expenditure on food 15 years ago; this proportion declined to 53% in 2005-06, according to the National Sample Survey Organisation. Companies cite anecdotal evidence to claim that this proportion has declined further in the three years since.
11:3PM | July 21,2009
While organized retail chains in urban India are shutting stores and scaling down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural stores... 
11:18PM | July 21,2009
Gross bad debt rose to Rs43,680 crore, from Rs39,750 crore a year earlier, minister of state for finance Namo Narain Meena said
- MCD spent Rs38 lakh in tours in 08-09; Rs13 lakh this year18 mins ago
- June refinery output down 3.7%: govt20 mins ago
- Not confessing to escape death; hang me if you want: Kasab11 mins ago
- Govt to amend law to check spurious drugs: Azad42 mins ago
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- Direct tax mop-up rises 3.65% to Rs59,465 cr
- World trade to shrink 10%, Asia leads recovery: WTO0
- DoNER favours quick funds for NEC projects0
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- Govt may let SBI stake fall to 55%0
 03:35 PM | July 21,2009 Finance ministry said the disinvestment programme will kick off with the dilution of government equity in listed entities, where public holding is less 03:35 PM | July 21,2009 The government believes the listing of BSNL would help improve the company's image and promote its growth; BSNL's net profit has hit a low of Rs104 crore 12:57 PM | July 21,2009 European Union accounts for 36% of the total exports by India, US 16-17% and Japan 15-16% |  10:22 AM | July 22,2009 According to Kerry the region that has till today faced the problem of IDPs, will now face a growing problem of environmentally displaced people 09:40 AM | July 22,2009 The incident took place at 5.45 am at Ashoka Park in Punjabi Bagh area when the labourer was hit by a girder which was being lifted 12:49 AM | July 22,2009 India and US have agreed on improved technological cooperation, especially on clean technology |
 11:3 PM | July 21,2009 While organized retail chains in urban India are shutting stores and scaling down ambitions, Hariyali Kisaan Bazaar is looking to add 200 rural stores to its existing chain of 300 in two years 03:29 PM | July 21,2009 The average temperature across the region has risen by five degree celsius affecting agriculture and daily activities of the people 01:15 AM | July 21,2009 At least 20 universities and research organizations in India will collaborate to identify genes in plants that may be combined to produce zinc-enhanced rice |  11:37 PM | July 20,2009 Once it is passed by both Houses of Parliament, all schools would have to reserve at least 25% of their seats for children from the specified sections 04:34 PM | July 20,2009 The government-appointed committee on Renovation and Rejuvenation of Higher Education, headed by Prof. Yashpal, has suggested setting up of NCHER as an overarching agency 12:34 AM | July 20,2009 The platform is being envisioned as a place for entrepreneurs to seek guidance for strategic decisions like raising finance, assessing market potential, business risks or embracing business model |
 03:19 PM | July 22,2009 Cloudy weather played a spoilsport in parts of Gujarat, Maharashtra, Madhya Pradesh; 90% visibility in other places like Lucknow, Kolkata 01:18 PM | July 22,2009 The downgrade primarily reflects the delay in IDFC's capital-raising due to which the institution's capitalization is likely to remain short of Crisil's earlier expectations 12:14 PM | July 22,2009 Listen to a ground report from Taregna in Bihar, watch a video exploring the growth explosion of retail stores in rural India and see how the removal of entry and exit loads will impact asset management companies and distributors |  08:54 PM | July 21,2009 With the Shipping Corp contract, the yard now has orders for 20 ships worth an estimated Rs5,000 cr 06:15 PM | July 21,2009 Union minister for road transport and highways Kamal Nath said monitoring is on at all levels and unscrupulous contractors would be taken to task 03:20 PM | July 21,2009 Healthcare infrastructure includes buildings, equipment, ambulances |
SCHEDULE-WISE LIST OF PUBLIC SECTOR UNDERTAKINGS.
List of 'A' Schedule PSUs
- Air India Ltd.
- Airports Authority of India
- Bharat Bhari Udyog Nigam Ltd.
- Bharat Earth Movers Ltd.
- Bharat Electronics Ltd.
- Bharat Heavy Electricals Ltd.
- Bharat Petroleum Corporation Ltd.
- Bharat Sanchar Nigam Ltd.
- Bharat Yantra Nigam Ltd.
- Coal India Ltd.
- Container Corporation of India Ltd.
- Electronics Corporation of India Ltd.
- Engineers India Ltd.
- Fertilizers & Chemicals (Travancore) Ltd.
- Food Corporation of India
- Gas Authority of India Ltd.
- Heavy Engineering Corporation Ltd.
- Hindustan Aeronautics Ltd.
- Hindustan Copper Ltd.
- Hindustan Petroleum Corporation Ltd.
- Hindustan Zinc Ltd.
- HMT Ltd.
- Housing & Urban Development Corporation Ltd.
- I T I Ltd.
- Indian Airlines Ltd.
- Indian Oil Corporation Ltd.
- IRCON International Ltd.
- Konkan Railway Corporation Ltd.
- Kudremukh Iron Ore Company Ltd.
- M M T C Ltd.
- Mahanagar Telephone Nigam Ltd.
- Mazagon Dock Ltd.
- Metallurgical & Engineering Consultants (India) Ltd.
- Mumbai Rail Vikas Corporation Ltd.
- National Aluminium Company Ltd.
- National Fertilizers Ltd.
- National Hydroelectric Power Corporation Ltd.
- National Mineral Development Corporation Ltd.
- National Textile Corporation Ltd.
- National Thermal Power Corporation Ltd.
- Neyveli Lignite Corporation Ltd.
- Oil & Natural Gas Corporation Ltd.
- Power Finance Corporation
- Power Grid Corporation of India Ltd.
- RailTel Corporation of India Ltd.
- Rashtriya Chemicals and Fertilizers Ltd.
- Rashtriya Ispat Nigam Ltd.
- Rural Electrification Corporation Ltd.
- Shipping Corporation of India Ltd.
- State Trading Corporation of India Ltd.
- Steel Authority of India Ltd.
- Telecommunications Consultants (India) Ltd.
List of 'B' Schedule PSUs
- Andrew Yule & Company Ltd.
- Balmer Lawrie & Company Ltd.
- Bharat Coking Coal Ltd.
- Bharat Dynamics Ltd.
- Bharat Heavy Plate & Vessels Ltd.
- Bharat Pumps & Compressors Ltd.
- Bongaigaon Refinery & Petrochemicals Ltd.
- Braithwaite & Company Ltd.
- Braithwaite, Burn & Jessop Construction Ltd.
- British India Corporation Ltd.
- Burn Standard Company Ltd.
- Cement Corporation of India Ltd.
- Central Coalfields Ltd.
- Central Electronics Ltd.
- Central Mine Planning & Design Institute Ltd.
- Central Warehousing Corporation Ltd.
- Chennai Petroleum Corporation Ltd.
- Cochin Shipyard Ltd.
- Cotton Corporation of India Ltd.
- Dredging Corporation of India Ltd.
- Eastern Coalfields Ltd.
- Engineering Projects (India) Ltd.
- Ennore Port Ltd.
- Fertilizer Corporation of India Ltd.
- Garden Reach Shipbuilders & Engineers Ltd.
- Goa Shipyard Ltd.
- Handicrafts & Handlooms Export Corporation Ltd.
- Hindustan Cables Ltd.
- Hindustan Fertilizer Corporation Ltd.
- Hindustan Organic Chemicals Ltd.
- Hindustan Paper Corporation Ltd.
- Hindustan Shipyard Ltd.
- Hindustan Steelworks Construction Company Ltd.
- Hindustan Vegetable Oils Corporation Ltd.
- HMT (I) Ltd.
- HMT (MT) Ltd.
- HMT (Watches) Ltd.
- India Tourism Development Corporation Ltd.
- India Trade Promotion Organisation
- Indian Drugs & Pharmaceuticals Ltd.
- Indian Iron & Steel Company Ltd.
- Indian Oil Blending Company Ltd.
- Indian Railway Catering & Tourism Corporation Ltd.
- Indian Railway Finance Corporation Ltd.
- Indian Rare Earths Ltd.
- Instrumentation Ltd.
- Jessop & Company Ltd.
- Kochi Refineries Ltd.
- Madras Fertilizers Ltd.
- Mahanadi Coalfields Ltd.
- Manganese Ore (India) Ltd
- Mineral Exploration Corporation Ltd.
- Mining & Allied Machinery Corporation Ltd.
- Mishra Dhatu Nigam Ltd.
- Nathpa Jhakri Power Corporation Ltd.
- National Building Construction Corporation Ltd.
- National Jute Manufacturers Corporation Ltd.
- National Projects Construction Corporation Ltd.
- National Small Industries Corporation Ltd.
- North Eastern Electric Power Corporation Ltd.
- Northern Coalfields Ltd.
- NTC (Andhra Pradesh, Karnataka, Kerala & Mahe) Ltd.
- NTC (Delhi, Punjab & Rajasthan) Ltd.
- NTC (Gujarat) Ltd.
- NTC (Madhya Pradesh) Ltd.
- NTC (Maharashtra North) Ltd.
- NTC (South Maharashtra) Ltd.
- NTC (Tamilnadu & Pondicherry) Ltd.
- NTC (Uttar Pradesh) Ltd.
- NTC (West Bengal, Assam, Bihar & Orissa) Ltd.
- Oil India Ltd.
- ONGC Videsh Ltd.
- P E C Ltd.
- Pawan Hans Helicopters Ltd.
- Projects & Development India Ltd.
- RITES Ltd.
- Scooters India Ltd.
- Semi-Conductor Complex Ltd.
- South Eastern Coalfields Ltd.
- Tehri Hydro Development Corporation Ltd.
- Tyre Corporation of India Ltd.
- Uranium Corporation of India Ltd.
- Western Coalfields Ltd.
List of 'C' Schedule PSUs
- Airlines Allied Services Ltd.
- Andaman & Nicobar Islands Forest & Plantation Development Corporation Ltd.
- Artificial Limbs Mfg. Corporation of India
- Bengal Chemicals & Pharmaceuticals Ltd.
- Bengal Immunity Ltd.
- Bharat Brakes & Valves Ltd.
- Bharat Gold Mines Ltd.
- Bharat Leather Corporation Ltd.
- Bharat Ophthalmic Glass Ltd.
- Bharat Process & Mechanical Engineers Ltd.
- Bharat Refractories Ltd.
- Bharat Wagon & Engineering Company Ltd.
- Biecco Lawrie Ltd.
- Bridge & Roof Company (India) Ltd.
- Broadcast Engineering Consultants India Ltd.
- Central Cottage Industries Corporation of India Ltd.
- Central Inland Water Transport Corporation Ltd.
- Chinar Watches Ltd.
- Cycle Corporation of India Ltd.
- Educational Consultants (India) Ltd.
- Electronics Trade & Technology Development Corporation Ltd.
- Ferro Scrap Nigam Ltd.
- Hindustan Antibiotics Ltd.
- Hindustan Insecticides Ltd.
- Hindustan Latex Ltd.
- Hindustan Newsprint Ltd.
- Hindustan Photo Films Manufacturing Corporation Ltd.
- Hindustan Salts Ltd.
- HMT (Bearings) Ltd.
- Hooghly Dock and Port Engineers Ltd.
- Hotel Corporation of India Ltd.
- Indian Renewable Energy Development Agency Ltd.
- Jute Corporation of India Ltd.
- Lagan Jute Machinery Company Ltd.
- M S T C Ltd.
- Mandya National Paper Mills Ltd.
- Nagaland Pulp & Paper Company Ltd.
- National Backward Classes Finance & Development Corporation.
- National Bicycle Corporation of India Ltd.
- National Film Development Corporation Ltd.
- National Handicapped Finance & Development Corporation.
- National Handlooms Development Corporation Ltd.
- National Industrial Development Corporation Ltd.
- National Instruments Ltd.
- National Minorities Development & Finance Corporation
- National Research Development Corporation of India.
- National Safai Karamcharis Finance & Development Corporation.
- National SC Finance & Development Corporation
- National ST Finance & Development Corporation
- National Seeds Corporation Ltd.
- NEPA Ltd.
- North Eastern Handicrafts & Handloom Development Corporation Ltd.
- North Eastern Regional Agricultural Marketing Corporation Ltd.
- Praga Tools Ltd.
- Pyrites, Phosphates & Chemicals Ltd.
- Richardson & Cruddas (1972) Ltd.
- Smith Stanistreet Pharmaceuticals Ltd.
- Sponge Iron India Ltd.
- State Farms Corporation of India Ltd.
- Tannery & Footwear Corporation of India Ltd.
- Tea Trading Corporation of India Ltd.
- Triveni Structurals Ltd.
- Tungabhadra Steel Products Ltd.
- Water & Power Consultancy Services (India) Ltd.
List of 'D' Schedule PSUs
- Hindustan Fluorocarbons Limited
- Hindustan Prefab Ltd.
- Indian Medicines Pharmaceutical Corporation Ltd.
- Karnataka Antibiotics & Pharmaceuticals Ltd.
- Maharashtra Antibiotics & Pharmaceuticals Ltd.
- Orissa Drugs & Chemicals Ltd.
- Rajasthan Drugs & Pharmaceuticals Ltd.
- Rehabilitation Industries Corporation Ltd.
- Southern Pesticides Corporation Ltd.
- Spices Trading Corporation Ltd.
- U.P. Drugs & Pharmaceuticals Ltd.
Others - Uncategorised list of 32 companies
- Air India Charters Ltd.
- Antrix Corporation Ltd.
- Assam Ashok Hotel Corpn. Ltd.
- Baton Rouge Internatinal, Inc
- Bharat Immunological & Biologicals Corp. Ltd.
- Bhilai Oxygen Ltd.
- Bihar Drugs & Organic Chemicals Ltd.
- Birds, Jute & Exports Ltd.
- Brushware Ltd.
- Cawnpore Textiles Ltd.
- Donyi Polo Ashok Hotel Ltd.
- Elgin Mills Company Ltd.
- Export Credit Guarantee Corpn. of India Ltd.
- Hooghly Printing Company Ltd.
- Hospital Services Consultancy Corp. (India) Ltd.
- IDPL (Tamilnadu) Ltd.
- Indo Hokke Hotels Ltd.
- J & K Mineral Development Corporation Ltd.
- Madhya Pradesh Ashok Hotel Corpn. Ltd.
- Maharashtra Elektrosmelt Ltd.
- Manipur State Drugs & Pharmaceutical Ltd
- Nuclear Power Corpn. of India Ltd.
- Pondicherry Ashok Hotel Corpn. Ltd.
- Punjab Ashok Hotel Company Ltd.
- R B L Ltd.
- Rajasthan Electronics and Instruments Ltd.
- Ranchi Ashok Bihar Hotel Corpn. Ltd.
- Sail Power Supply Company Ltd.
- Sambhar Salts Ltd.
- Utkal Ashok Hotel Corpn. Ltd.
- Vignyan Industries Ltd.
- Weighbird (India) Ltd.
List of Public Sector Undertakings in India
From Wikipedia, the free encyclopedia
 | This article is an orphan, as few or no other articles link to it. Please introduce links to this page from other articles related to it. (April 2008) |
The List of Public Sector Undertakings in India details all centrally owned Public Sector Undertaking (PSU) in India [1]
Name of PSU  | Industry | Headquarters |
| Air India Air Transport Services Limited | Transport | New Delhi |
| Air India Charters Limited | Transport | Mumbai |
| Air India Limited | Transport | New Delhi |
| Airline Allied Services Limited | Transport | New Delhi |
| Airports Authority Of India Limited | Transport | New Delhi |
| Andaman & Nicobar Islands Forest and Plantation Development Corporation Limited | Forestry | Port Blair |
| Andrew Yule & Company Limited | Heavy Industry, Engineering | Kolkota |
| Antrix Corporation Limited | Space, Communication | Bangalore |
| Artificial Limbs Manufacturing Corporation of India | Manufacturing, Rehabilitation | Kanpur |
| Assam Ashok Hotel Corporation Limited | Tourism | New Delhi |
| Balmer Lawrie & Company Limited | Manufacturing | Kolkota |
| Balmer Lawrie Investments Limited | Financing | Kolkota |
| Braithwaite, Burn & Jessop Construction Company Limited | Construction | Kolkota |
| BEL Optronic Devices Limited | Research and Development, Electronics | Pune |
| Bengal Chemicals & Pharmaceuticals Limited | Pharmaceuticals | Kolkota |
| Bharat Bhari Udyog Nigam Limited | Construction, Finance | Kolkota |
| Bharat Coking Coal Limited | Mining | Dhanbad |
| Bharat Dynamics Limited | Manufacturing, Defense | Hyderabad |
| Bharat Earth Movers Limited | Mining, Transportation | Bangalore |
| Bharat Electronics Limited | Defence, Electronics | Bangalore |
| Bharat Heavy Electricals Limited | Manufacturing | New Delhi |
| Bharat Heavy Plate & Vessels Limited | Manufacturing, Oil and Gas | Visakhapatnam |
| Bharat Immunologicals and Biologicals Corporation Limited | Pharmaceuticals | Bulandshahar |
| Bharat Petroleum Corpn. Limited | Petroleum | Mumbai |
| Bharat Pumps & Compressors Limited | Manufacturing | Allahabad |
| Bharat Refractories Limited | Manufacturing | New Delhi |
| Bharat Sanchar Nigam Limited | Communications | New Delhi |
| Bharat Wagon and Engineering Limited | Manufacturing | Patna |
| Bharat Yantra Nigam Limited | Manufacturing, Financing | Allahabad |
| Biecco Lawrie Limited | Petroleum, Manufacturing | Kolkota |
| Birds Jute and Exports Limited | Textiles, Manufacturing | Kolkota |
| Bongaigaon Refinery and Petrochemicals Limited | Oil and gas, Refinery | Bongaigaon |
| Brahmaputra Valley Fertilizer Corporation Limited | Fertilizer, Manufacturing | Dibrugarh |
| Braithwaite and Company Limited | Manufacturing, Railways | Kolkota |
| Bridge an Roof Company (India) Limited | Construction | Kolkota |
| British India Corporation Limited | Textiles, Manufacturing | Kanpur |
| Broadcast Engineering Consultants India Limited | Communications | New Delhi |
| Burn Standard Company Limited | Construction, Engineering | Kolkota |
| Cement Corpn. Of India Limited | ||
| Central Coalfields Limited | Mining | Ranchi |
| Central Cottage Industries Corpn. Of India Limited | ||
| Central Electronics Limited | ||
| Central Inland Water Transport Corpn. Limited | ||
| Central Mine Planning & Design Institute Limited | ||
| Central Warehousing Corpn. | ||
| Certification Engineers International Limited | ||
| Chennai Petroleum Corporation Limited | ||
| Coal India Limited | Mining | Kolkota |
| Cochin Shipyard Limited | Marine Engineering | Kochi |
| Container Corporation Of India Limited | ||
| Cotton Corpn. Of India Limited | ||
| Donyi Polo Ashok Hotel Limited | ||
| Dredging Corpn.Of India Limited | ||
| Eastern Coalfields Limited | Mining | Asansol |
| Educational Consultants ( India ) Limited | ||
| Electronics Corpn. Of India Limited | ||
| Engineering Projects (India) Limited | ||
| Engineers India Limited | ||
| Ennore Port Limited | Port | Chennai |
| Export Credit Guarantee Corpn.Of India Limited | ||
| Fci Aravali Gypsum & Minerals (India) Limited | ||
| Ferro Scrap Nigam Limited | ||
| Fertilizer Corpn. Of India Limited | ||
| Fertilizers & Chemicals (Travancore) Limited | ||
| Food Corporation of India | Wholesale, Agricultural products | New Delhi |
| Gail (India) Limited | Naturl Gas | New Delhi |
| Garden Reach Shipbuilders & Engineers Limited | ||
| Goa Shipyard Limited | Defence, Manufacturing | Vasco da Gama, Goa |
| Handicrafts & Handloom Exports Corp. Of India Limited | ||
| Heavy Engineering Corpn. Limited | ||
| Hindustan Aeronautics Limited | Defence, Manufacturing | Bangalore |
| Hindustan Antibiotics Limited | ||
| Hindustan Cables Limited | ||
| Hindustan Copper Limited | ||
| Hindustan Fertilizer Corpn. Limited | ||
| Hindustan Fluorocarbons Limited | ||
| Hindustan Insecticides Limited | ||
| Hindustan Latex Limited | ||
| Hindustan Newsprint Limited | ||
| Hindustan Organic Chemicals Limited | ||
| Hindustan Paper Corporation Limited | ||
| Hindustan Petroleum Corpn. Limited | Petroleum | Mumbai |
| Hindustan Photo Films Manufacturing Co. Limited | ||
| Hindustan Prefab Limited | ||
| Hindustan Salts Limited | ||
| Hindustan Shipyard Limited | Manufacturing | Visakhapatnam |
| Hindustan Steel Works Costn. Limited | ||
| Hindustan Vegetable Oils Corpn. Limited | ||
| Hmt (International) Limited | Engineering | Bangalore |
| Hmt Bearings Limited | Manufacturing | Bangalore |
| Hmt Chinar Watches Limited | Manufacturing | Bangalore |
| Hmt Limited | Manufacturing | Bangalore |
| Hmt Machine Tools Limited | Manufacturing | Bangalore |
| Hmt Watches Limited | Engineering | Bangalore |
| Hooghly Dock And Port Engineers Limited | ||
| Hooghly Printing Company Limited | ||
| Hotel Corpn. Of India Limited | ||
| Housing and Urban Development Corporation Limited | Urban development | New Delhi |
| Hscc (India) Limited | ||
| ITI Limited | Communications | Bangalore |
| IBP Company Limited | Petroleum | Kolkota |
| Idpl (Tamilnadu) Limited | ||
| India Tourism Dev. Corpn.Limited | ||
| India Trade Promotion Organisation | Trade | New Delhi |
| Indian Airlines Limited | Transport | New Delhi |
| Indian Drugs & Pharmaceuticals Limited | ||
| Indian Medicines & Pharmaceutical Corpn. Limited | ||
| Indian Oil CorporationIndian Oil Corporation Limited | Petroleum | New Delhi |
| Indian Oil Technologies Limited Manufacturing | Faridabad | |
| Indian Railway Catering And Tourism Corpn. Limited | ||
| Indian Railway Finance Corporation Limited | Finance | New Delhi |
| Indian Rare Earths Limited | Mining | Mumbai |
| Indian Renewable Energy Devt.Agency Limited | ||
| Instrumentation Limited | ||
| Ircon International Limited | ||
| J & K Mineral Development Corpn. Limited | ||
| Jute Corpn. Of India Limited | ||
| Karnataka Antibiotics & Pharmaceuticals Limited | ||
| Karnataka Trade Promotion Organisation | ||
| Konkan Railway Corporation Limited | Transport | Navi Mumbai |
| Kudremukh Iron Ore Co.Ltd | ||
| Kumarakuppa Frontier Hotels Limited | ||
| [M M T C Limited]MMTC Limited | ||
| M S T C Limited | ||
| Madhya Pradesh Ashok Hotel Corpn. Limited | ||
| Madras Fertilizers Limited | ||
| Mahanadi Coalfieldls Limited | Mining | Sambalpur |
| Mahanagar Telephone Nigam Limited | Communication | New Delhi |
| Maharashtra Elektrosmelt Limited | ||
| Mangalore Refinary & Petrochemicals Limited | Refinery, Petrochemicals | Mangalore |
| Manganese Ore(India) Limited | ||
| Mazagon Dock Limited | Defence, Manufacturing | Mumbai |
| Mecon Limited | ||
| Millennium Telecom Limited | ||
| Mineral Exploration Corpn. Limited | ||
| Mishra Dhatu Nigam Limited | ||
| Mumbai Railway Vikas Corporation Limited | Transport | Mumbai |
| Nagaland Pulp & Paper Company Limited | ||
| Narmada Hydroelectric Development Corpn. Limited | ||
| National Aluminium Company Limited | Bhubaneswar | |
| National Backward Classes Finance & Development Corp. | ||
| National Bldg. Constn. Corpn. Limited | ||
| National Fertilizers Limited | Agriculture | NOIDA |
| National Film Dev. Corpn. Limited | Entertainment | Mumbai |
| National Handicapped Finance & Devpt. Corpn. | ||
| National Handloom Development Corporation Limited | ||
| National Hydroelectric Power Corpn.Limited | ||
| National Informatics Center Services Incorporated. | ||
| National Instruments Limited | ||
| National Jute Manufacturers Corporation Limited | ||
| National Mineral Development Corpn. Limited | Mining | New Delhi |
| National Minorities Devp. & Finance Corpn. | ||
| National Projects Construction Corpn. Limited | ||
| National Research Devp. Corpn. | ||
| National Safai Karamcharis' Finance & Devpt. Corpn. | ||
| National Scheduled Castes Finance & Devp. Corpn. | ||
| National Scheduled Tribes Finance & Devp. Corpn. | ||
| National Seeds Corpn. Limited | ||
| National Small Industries Corpn. Limited | ||
| National Textile Corpn. (Holding Co.) Limited | ||
| Nepa Limited | ||
| Neyveli Lignite Corporation Limited | Mining, Energy | Neyveli |
| North Eastern Handicrafts & Handloom Dev.Corpn. Limited | ||
| North Eastern Electric Power Corporation Limited | ||
| North Eastern Regional Agri. Marketing Corp.Limited | ||
| Northern Coalfields Limited | Mining | Singrauli |
| Ntc(A.Pradesh, Karnataka, Kerala & Mahe)Limited | ||
| Ntc(Delhi,Punjab & Rajasthan) Limited | ||
| Ntc(Gujarat)Limited | ||
| Ntc(Madhya Pradesh)Limited | ||
| Ntc(Maharashtra North)Limited | ||
| Ntc(South Maharashtra)Limited | ||
| Ntc(Tamilnadu & Pondicherry) Limited | ||
| Ntc(Uttar Pradesh)Limited | ||
| Ntc(West Bengal,Assam,Bihar & Orissa)Limited | ||
| Ntpc Electric Supply Company Limited | Energy | New Delhi |
| Ntpc Limited | Energy | New Delhi |
| Ntpc Vidyut Vyapar Nigam Limited | Energy | New Delhi |
| Nuclear Power Corpn. Of India Limited | Energy | Mumbai |
| Numaligarh Refinary Limited | ||
| Oil & Natural Gas Corporation Limited | Petroleum | Dehradun |
| Oil India Limited | Petroleum | NOIDA |
| Ongc Videsh Limited | Petroleum | Dehradun |
| Orissa Drugs & Chemicals Limited | ||
| PEC Limited | ||
| Pawan Hans Helicopters Limited | Manufacturing | New Delhi |
| Pondicherry Ashok Hotel Corpn. Limited | ||
| Power Finance Corporation | ||
| Power Grid Corporation Of India Limited | Power transmission | New Delhi |
| Praga Tools Limited | ||
| Projects & Development India Limited | Engineering | NOIDA |
| Pyrites, Phosphates & Chemicals Limited | ||
| Railtel Corporation India Limited | Transport | New Delhi |
| Rajasthan Drugs & Pharmaceuticals Limited | ||
| Rajasthan Electronics And Instruments Limited | ||
| Ranchi Ashok Bihar Hotel Corpn. Limited | ||
| Rashtriya Chemicals And Fertilizers Limited | ||
| Rashtriya Ispat Nigam Limited | ||
| Richardson & Cruddas(1972) Limited | ||
| Rites Limited | Transport | Gurgaon |
| Rural Electrification Corpn. Limited | ||
| Sambhar Salts Limited | ||
| Satluj Jal Vidyut Nigam Limited | ||
| Scooters India Limited | ||
| Semi-Conductor Complex Limited | ||
| Shipping Corporation Of India Limited | Transport, Logistics | Mumbai |
| South Eastern Coalfields Limited | Mining | Bilaspur |
| Sponge Iron India Limited | ||
| State Farms Corporation of India Limited | ||
| State Trading Corpn. Of India Limited | ||
| Stcl Limited | ||
| Steel Authority of India Limited | Manufacturing | New Delhi |
| Tamil Nadu Trade Promotion Organisation | ||
| Telecommunications Consultants (India) Limited | ||
| Triveni Structurals Limited | ||
| Tungabhadra Steel Products Limited | ||
| Tyre Corporation of India Limited | ||
| Uranium Corporation of India Limited | ||
| Utkal Ashok Hotel Corpn. Limited | ||
| Vignyan Industries Limited | ||
| Water & Power Consultancy Services(India) Limited | ||
| Western Coalfields Limited | Mining | Nagpur |
[edit] References
- ^ List of Central Govt. Enterprises under different cognate groups. Department of Public Enterprises. Government of India. June 2005
[edit] External links
Categories: Government-owned companies in India
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