Air India

Cabinet’s in-principle nod for Air India disinvestment

The Union Cabinet on Wednesday gave its approval for divesting stakes in national carrier Air India.

“The Cabinet gave its in-principle approval for Air India disinvestment,” Finance Minister Arun Jaitley said in a press briefing.

A group under Mr. Jaitley has been framed to choose the modalities of Air India’s stake sale. “It will now take a decision on the quantum of stake sale and take a call on Air India’s assets, debts and its hotel subsidiary,” Mr. Jaitley said.

Go Indigo Mansoon Special

Indigo shows interest in Air India

New Delhi: After the Union Cabinet gave a green signal to privatize Air India and its five subsidiaries, Indigo Airlines has shown interest in buying Air India. Low-cost airline IndiGo has formally showed interest in buying a stake in the national carrier, especially in its international operations. On Thursday, Indigo’s president and whole-time director Aditya Ghosh wrote a letter to the civil aviation ministry citing Indigo’s interest to purchase Air India’s international operations.

Civil Aviation Secretary, Mr. RN Choubey said that the national carrier’s stake sale will happen through a tender process. Minister of State Civil Aviation Jayant Sinha said other private players, both domestic and international, also approached the Centre informally to buy stakes in Air India. He, however, refused to divulge any names.

The airline has a total debt of more than Rs 52,000 crore, an annual interest of Rs 4,500 crore and has been surviving on a Rs 30,000-crore bailout package. The panel will decide whether to go for a 100% stake sale in one go or divest gradually. The options of 100%, 74% and 51% stake sale in Air India have been recommended by the Department of Investment and Public Asset Management.

RBI

RBI to print Rs.200 currency notes, in the urge to Re-monetize India.

NewsMantra Bureau

After the tough decision that PM took at the night of 8th November which shook the Nation and was opposed by everyone, RBI is now seeking to bring  the economy back on track which is still needed. On June 9th this year, as per reporyts, the currency circulation with the public is at Rs 14.6 lakh crore, still 18.4% lower than the pre-demonetization level.

The RBI has started with the printing of Rs. 200 currency notes in a bid to speed up the pace of re-monetization. It has also added several advanced security features to the new Rs.200 note to prevent counterfeiting. 

Benefits of Rs.200 note

The emergence of the new currency after demonetization will help in the day to day consumer transactions. With the smaller currency in hand, problem of dealing with everyday business of the common masses will be be eased.

GST

Midnight GST Launch: -Opposition in Dilemma

New Delhi: The Centre’s plan to rollout GST at a special session of Parliament at midnight on June 30 is confronting a barrier from the Opposition. They are probably going to skip the launch however a final call has still not been taken yet.

The reason they have given is that opposition parties dislike the technique for the welcome. As per the sources from Trinamool Congress, the Left, and the Congress the letter of invitation by parliamentary affairs minister Ananth Kumar was sent to all MPs separately. The norm, they say, is to address it only to the party leaders.