The government has notified a 2.57-time hike in basic salary of one crore government employees and pensioners following implementation of the 7th Pay Commission Recommendations.
The four bankers who will be selected on Friday will manage an offering which is expected to contribute just less than Rs 4,000 crore to the government exchequer.
As per the Expression of Interest floated by Department of Investment and Public Asset Management (DIPAM), the last date for submission of bids by merchant bankers is May 16.
Alcohol ban decision by Bihar will not only have huge ramifications for the people of the state but also on the exchequer because 67 percent of the state's sales tax revenue comes from liquor which was over Rs 3,600 crore in the last fiscal.
TDSAT quashed a cumulative penalty worth Rs 1,200 crore imposed by DoT on the three telecom operators for violating a licence agreement. However, DoT continues to maintain that such pacts violate the licence agreement.
Tamil Nadu chief minister J Jayalalithaa has been rolling out populist measures such as low-cost canteens and mineral water, ahead of the elections.
The government currently is considering buyback options instead of divestment as current market conditions force them to do so. Coal India has given its nod for the same, while an approval from other companies is awaited, reports CNBC-TV18's Aakansha Sethi.
The coal ministry on Wednesday expressed hope of getting the go ahead for divestment of 5-percent stake in Coal India Ltd that could raise Rs 10,000 crore for the exchequer, despite a section of the trade unions opposing the decision.
Making clear its opposition to the Food Security Bill, industry body Ficci on Monday called it a "troublesome act", saying that cash transfer was be the best way forward.
The issue received bids for over 2.56 crore shares, or 69 percent, of the 3.71 crore shares on offer at 1225 hours, according to data from stock exchanges. The indicative price was Rs 70 apiece, which was also the base price for the share sale.
Government holds 97.64 per cent stake in the company and the disinvestment is being done to make it complaint with Sebi norms, Finance Minister P Chidambaram said today while briefing on the CCEA decisions.
Implementation of the National Food Security Bill (NFSB), aimed at providing legal entitlement to food to around 67 percent of the population, is likely to cost the exchequer around Rs 1.23 lakh crore, the government said on Monday.
The government should not withdraw tax refund DEPB scheme, which is ending in June, as it will make exports uncompetitive and would affect the growth momentum, industry body PHD Chamber said today.