Public Sector Enterprises

Boosted spirit of enterprise our people are blessed with: PM Modi

Prime Minister Narendra Modi on Wednesday hailed the Stand Up India campaign on the completion of its seven years and pointed out that the initiative had played a role in empowering the SC/ST communities and women. Stand up India Scheme was launched on April 5, 2016, with a focus on economic empowerment and job creation. The scheme aims to encourage all bank branches in extending loans to borrowers from SC, ST and women in setting up their own greenfield enterprises. "Today we mark #7YearsofStandUpIndia and acknowledge the role this initiative has played in empowering the SC/ ST communities and ensuring women empowerment. It has also boosted the spirit of enterprise our people are blessed with," Modi said in a tweet. In another tweet on National Maritime Day, the prime minister said, "We in India have been blessed with a rich maritime heritage and we are very proud of that." "On National Maritime Day, we recall all those who contributed to India's strides in the maritime world and

What explains Indian public sector enterprises' anaemic capex record?

Instead of public sector enterprises making capex decisions, they have declared dividends in the last few years. The capex decisions have therefore been abrogated to itself by the Centre

PSE dividends likely to cross govt's target for first time in 8 years

The government has so far garnered Rs 36,835 crore, which is 92 per cent of the Budget estimate of Rs 40,000 crore

Public sector firms' share in total market cap at a three-year high

BSE PSU index gained 41% and 23% in 2021 and 2022, respectively

Public-float rule: PSUs to remain exempt even after change of ownership

Exemption for a 'specified period' may help IDBI Bank stake sale

Capex by CPSEs accelerates to 60% of annual target during Apr-Nov period

CPSEs are likely to achieve their target as they tend to rush up their spending in March quarter

A different kind of quiet quitting

Policy loopholes are encouraging many promoters to exit their companies stealthily, raising the question: Should promoters be in control after pledging their shares?

Coal India production increases 17% in April-October to 352 million tonnes

State-owned CIL on Tuesday said its coal production increased by 17.4 per cent to 351.9 million tonnes (MT) in the April-October period of the ongoing fiscal. The company's coal output in the corresponding period of last fiscal was 299.6 MT, Coal India Ltd (CIL) said in a filing to BSE. The coal production by the maharatna firm also increased to 52.9 MT last month, over 49.8 MT of coal production in the corresponding month of previous fiscal. The public sector enterprise also said its coal offtake during April-October went up to 385.7 MT from 364.4 MT in the year-ago period. However, in October the offtake dropped to 53.7 MT from 56.5 MT in the same month of last fiscal. The coal major did not give the reason for the drop in offtake. Coal India accounts for over 80 per cent of domestic coal output. CIL will achieve 1 billion tonnes of coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the COVID-19 pandemic, coal minister Pralhad Joshi had earl

BS Number Wise: A strategy for non-strategic state firms as losses mount

The govt needs to act quickly to capitalise on the assets of such enterprises

Capital expenditure by CPSEs accelerates to 43% of FY23 target in H1

While CPSEs spent Rs 2.8 trillion in capex in the first half of FY23, they had invested Rs 2.19 trillion during the year-ago period, registering 27.85 growth per cent

There's a sea change in public sector cloud in India: AWS' Rahul Sharma

Digital India's mindset acted as a catalyst to bring this transformation of citizen-facing services, says Rahul Sharma, Regional Head, AWS India

Public sector contributes 20% to national income, 40% of total wages

The public sector contributes only 20 per cent to the national income, but accounts for nearly 40 per cent of the total wages, a report by a domestic ratings agency said on Monday. The average share of the public sector in gross value addition for the ten years ending FY21 is 19.2 per cent but the share in wages is 39.2 per cent, India Ratings and Research said in an analysis based on gross value added (GVA) data released by the National Statistical Office. The share of the private sector in GVA and wages is "more evenly balanced", the agency said, pointing out that it accounts for 35.2 per cent of the wages while its contribution to GVA is 36.3 per cent for the same period. It can be noted that those pressing for a lesser role of the state in the economy, often point out to the lack of efficiency in the public sector. The agency's report said nominal wages grew at a compounded annual growth rate (CAGR) of 10.4 per cent, while return on capital grew at a CAGR of 8.8 per cent during

Private good, public loss: PSEs have been losing mkt share to private peers

A Business Standard analysis of data in the CAG report shows the market share of the four insurers is eroding

States to get matching amounts from Centre for SPSEs' privatisation

The Centre has allocated Rs 5,000 crore for disinvestment of SPSEs and asset monetisation

Fitch enhances ratings of 13 Indian firms to 'moderate downgrade risk'

These companies are either govt-related entities (GREs) with ratings linked to the sovereign rating or pvt entities whose ratings would be downgraded if India's Country Ceiling was lowered to 'BB+'

Divestment not to shut down PSEs but prime them up: FM Sitharaman

So far in the current fiscal year, the government has mopped up over Rs 24,000 crore from CPSE disinvestment

Asset monetisation

Govt should reassess the plan

Improve governance before divesting

A fixation on the target amount, without improving the corporate governance of public sector enterprises, is misplaced

Moody's upgrades BPCL outlook to 'stable' as govt calls off stake sale

The rating agency affirmed BPCL's Baa3 issuer rating reflecting its position as the second-largest state-owned refining and marketing company in India

Cabinet empowers PSU boards to recommend stake sale, close subsidiaries

At present, PSU boards have the authority to make equity investments, undertake mergers and acquisitions subject to certain ceilings of net-worth