SBI gets Govt. to make public issue :
Now post budget disinvestment, Govt. has agreed to dilute its stake to 51% from current 59.4%. In the process SBI can raise over Rs. 17,000 cr. at it's present share price of Rs.1,708. Thatmeans out of 25,000 cr. disinvestment planned by govt. more than half is achived in single transaction! Earleir in budget speach Pranavda had said that Financial area & Insurence sector will be untouched & would continue to remain with govt. This step of govt.further minimise govt. control! What a turnaround after a fortnight post budget!
Pranavda's Budget has a deficit of 4 lack crores, all ready statements are given that out of which 2 lack crores will be born out of overseas funds raising. Now statement has come that Govt. is going to reduce it's share in PSU's by less than 75% by means of which Govt.'MAY' fatch Rs.1,50,000 crores ! Inthat case what about balance 50,000 lack crores ?
1) By further raising the overseas funding ? or
2) By further reducing the Govt. stake in PSU's ? or
3) By simply by PRINTING CURRENCY ? Third bail out way suggested seems to be best way, as first two way's depends on probabilities & MAY continue to reflect on Budget of coming years & the third way reflects on ONLY people of country...!
1) Indian Banks Bet Big on Realty. Amid Downturn, Credit To Sector Was Up 45% In FY 2009-10.
2) Lakhs of tonne of Pulses, Sugar & jaggery worth over Rs.1,600 cr. lying unclaimed on Indian Ports which has become now not fit to human consumption, as PSU's which alloted it by Govt. didn't lift it in time ! for reasons. Timely clearing the same would have put a lid on prices. Agriculture Minister Sharad Pawar on asking said " i don't know".
Tax exemption cost govt. Rs.4.2 lakh crore in 08-09 :
Due to various tax exemptions in 08-09 govt.has lost revenues worth Rs.4.2 lakh crore which is almost matching the deficit of Rs. 4 lakh crore shown by finance minister in current year 2009-10 budget !
Rly. Will earn Rs.2.5 cr.out of dismantled bridge of Masjid. It was consisting super quality steel of 750 MT valued Rs.30,000/MT.
CBEC tracks Railway's for service tax on ad. revenue :
Indian Railways may have to pay service tax on revenues from advertising services that it provides to companies. The Central Board of Exercise & Customs ( CBEC )
has directed it's field officers to collect data on advertising services offered by Railway's all over the country, a finance ministry official, who did not wish to be identified, said.
The CBEC move comes after several letters sent to the Railways by finance ministry failed to elicit any response. According to finance ministry in year 2008-09 alone railways has earned Rs. 170 crores as revenues from space sale by means of hoardings,painting on trains, printing on ticket etc. Tax become liable at the rate of 10% ever since the service become taxable in year 2005 !!!
1) Procure a Human Resourses Management System.(HRMS)
2)Proposal for Built Operate Transper (BOT)
3) It will be a PPP & IT company will fund the and manage the entire set up, pricing will be based on number of transactions.
4) Software aided train scheduling worth 450 cr for which TCS,Infosys, Wipro & Mahindra Satyam are bidding. The project will help railway's do real-time train scheduling management with the help of software solution.
5) Wipro is allready doing two pilot for railway's. One is a pilot for RFID & will be rolled out in next 12-18 months. Another pilot the company is doing for railways where it charts the movement of trains.
6) Railway's are going to also out source the activities @ 500 cr. each such as asset management,Finance, Payroll & Material management.
IT Majors chase Rs.2,500-cr. Railway's outsourcing deal:
Railway's To Integrate & Automate Payroll, Accounting, Pension
functions : Indian Railway's plans to spend arround $ 1.5 billion over the next two to three years on technology.
'Employee has no right to claim choice of posting' Supreme Court Verdict :
A govt. Servant has no vested right to remain posted at a place of his choice nor can he insist that he must be posted at one place or the other. He is liable to be transfered in the Administrative exigencies from on place to other.
Rly. imposes cess on ore for export market :
Rs.200 per tonne distance surcharge on movement of ore. 223 million tonnes of iron ore produced in India in financial year 2009-10. 106 million tonnes exported, mainly to china markets. Rly. Board official said new rates effective from 7/8/09.
Babu's deputation dreams come crashing down : officers can't be deputed to companis where govt. stake is equal or is in minority.
Now post budget disinvestment, Govt. has agreed to dilute its stake to 51% from current 59.4%. In the process SBI can raise over Rs. 17,000 cr. at it's present share price of Rs.1,708. Thatmeans out of 25,000 cr. disinvestment planned by govt. more than half is achived in single transaction! Earleir in budget speach Pranavda had said that Financial area & Insurence sector will be untouched & would continue to remain with govt. This step of govt.further minimise govt. control! What a turnaround after a fortnight post budget!
Pranavda's Budget has a deficit of 4 lack crores, all ready statements are given that out of which 2 lack crores will be born out of overseas funds raising. Now statement has come that Govt. is going to reduce it's share in PSU's by less than 75% by means of which Govt.'MAY' fatch Rs.1,50,000 crores ! Inthat case what about balance 50,000 lack crores ?
1) By further raising the overseas funding ? or
2) By further reducing the Govt. stake in PSU's ? or
3) By simply by PRINTING CURRENCY ? Third bail out way suggested seems to be best way, as first two way's depends on probabilities & MAY continue to reflect on Budget of coming years & the third way reflects on ONLY people of country...!
1) Indian Banks Bet Big on Realty. Amid Downturn, Credit To Sector Was Up 45% In FY 2009-10.
2) Lakhs of tonne of Pulses, Sugar & jaggery worth over Rs.1,600 cr. lying unclaimed on Indian Ports which has become now not fit to human consumption, as PSU's which alloted it by Govt. didn't lift it in time ! for reasons. Timely clearing the same would have put a lid on prices. Agriculture Minister Sharad Pawar on asking said " i don't know".
Tax exemption cost govt. Rs.4.2 lakh crore in 08-09 :
Due to various tax exemptions in 08-09 govt.has lost revenues worth Rs.4.2 lakh crore which is almost matching the deficit of Rs. 4 lakh crore shown by finance minister in current year 2009-10 budget !
Rly. Will earn Rs.2.5 cr.out of dismantled bridge of Masjid. It was consisting super quality steel of 750 MT valued Rs.30,000/MT.
CBEC tracks Railway's for service tax on ad. revenue :
Indian Railways may have to pay service tax on revenues from advertising services that it provides to companies. The Central Board of Exercise & Customs ( CBEC )
has directed it's field officers to collect data on advertising services offered by Railway's all over the country, a finance ministry official, who did not wish to be identified, said.
The CBEC move comes after several letters sent to the Railways by finance ministry failed to elicit any response. According to finance ministry in year 2008-09 alone railways has earned Rs. 170 crores as revenues from space sale by means of hoardings,painting on trains, printing on ticket etc. Tax become liable at the rate of 10% ever since the service become taxable in year 2005 !!!
1) Procure a Human Resourses Management System.(HRMS)
2)Proposal for Built Operate Transper (BOT)
3) It will be a PPP & IT company will fund the and manage the entire set up, pricing will be based on number of transactions.
4) Software aided train scheduling worth 450 cr for which TCS,Infosys, Wipro & Mahindra Satyam are bidding. The project will help railway's do real-time train scheduling management with the help of software solution.
5) Wipro is allready doing two pilot for railway's. One is a pilot for RFID & will be rolled out in next 12-18 months. Another pilot the company is doing for railways where it charts the movement of trains.
6) Railway's are going to also out source the activities @ 500 cr. each such as asset management,Finance, Payroll & Material management.
IT Majors chase Rs.2,500-cr. Railway's outsourcing deal:
Railway's To Integrate & Automate Payroll, Accounting, Pension
functions : Indian Railway's plans to spend arround $ 1.5 billion over the next two to three years on technology.
'Employee has no right to claim choice of posting' Supreme Court Verdict :
A govt. Servant has no vested right to remain posted at a place of his choice nor can he insist that he must be posted at one place or the other. He is liable to be transfered in the Administrative exigencies from on place to other.
Rly. imposes cess on ore for export market :
Rs.200 per tonne distance surcharge on movement of ore. 223 million tonnes of iron ore produced in India in financial year 2009-10. 106 million tonnes exported, mainly to china markets. Rly. Board official said new rates effective from 7/8/09.
Babu's deputation dreams come crashing down : officers can't be deputed to companis where govt. stake is equal or is in minority.
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