#MintPlainFacts | The Centre’s struggles with disinvestment are hurting PSUs themselves. They are seeing more of their surplus being taken by the government and are having to endure a stagnation in market value
#MintPlainFacts | On 10 August 2017, the Bombay Stock Exchange introduced the S&P BSE Bharat 22 Index. This index measures the stock performance of 22 companies that had seen different degrees of disinvestment by the Centre.
#MintPlainFacts | Delays hurt the prospects of PSUs listed for disinvestment. The sale of BPCL, for instance, was approved by the Centre on 21 November 2019
#MintPlainFacts | The Centre is looking to exit businesses without strategic import. Responding to a question in the Lok Sabha on 19 September 2020, it said it was “being guided by the basic economic principle"
#MintPlainFacts | At the same time, it is also forming new ventures. According to the Department of Public Enterprises, as of March 2020, 96 new PSUs were coming up.
#MintPlainFacts | A week from now, FM Nirmala Sitharaman will present the 2nd consecutive Union Budget with an eye on free-flowing spending taps to prop up the fragile economy.
But imminent bond redemptions in the coming years present one big hurdle.
Loosening the fiscal deficit target to allow spending is no longer an option. Rather, Sitharaman will be expected to tighten it to rein in debt. More worryingly, a third of the additional spending is on account of subsidies.
#MintLongStory | The Union Budget, the government’s annual financial statement, will be presented on 1 February. Before 2016, the Budget was presented on the last working day of February.
#MintLongStory | This year, the government planned to spend ₹34.8 trillion, while total expected earnings were estimated at ₹19.8 trillion. This implies a fiscal deficit of ₹15 trillion.
#MintLongStory | Two paper mills in Assam have been shut for years, hurting the entire ecosystem around them. Many employees have no money to pay for healthcare and some have succumbed to illness.
#MintLongStory | Production became unviable after a series of setbacks from 2007, including raw material and fuel shortages. The mills face liquidation under IBC but there is little interest from bidders.
#MintPlainFacts | The IMF will release its updated economic outlook amid Omicron spread. Q3 earnings for two major companies, Cipla and Maruti Suzuki, are also due this week.
#MintPlainFacts | Like every year, the Padma awards of this year will be announced ahead of Republic Day. Since their inception in 1954, 321 Padma Vibhushan, 1,278 Padma Bhushan, and 3,223 Padma Shri titles have been awarded
#MintPlainFacts | The International Monetary Fund (IMF) will release its updated forecasts on economic growth on Tuesday. This will be a revision of the October figures.
#BudgetWithMint | Will the upcoming Union Budget 2022 bring any tweaks to the existing income tax rates? Taxpayers are expecting some rebate or relief from Finance Minister #NirmalaSitharaman
#BudgetWithMint | As Finance Minister Nirmala Sitharaman is scheduled to present Union Budget 2022 on 1 February, the healthcare sector has urged the government to increase spending on genetic research.
#BudgetWithMint | While the real estate sector is looking at a robust housing demand revival in 2022, it also expects the Union Budget 2022 to play a supportive and enabling role.