Govt to sell 100 pc stake in Air India; issues bid document

News Network
January 27, 2020

New Delhi, Jan 27: The government on Monday issued the preliminary information memorandum for 100 per cent stake sale in national carrier Air India. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per the bid document issued on Monday.

Management control of the airline would also be transferred to the successful bidder.

The government has set March 17 as the deadline for submitting the Expression of Interest (EoI).

EY is the transaction adviser for Air India disinvestment process.

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News Network
June 5,2024

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Leaders of the Bharatiya Janata Party-led National Democratic Alliance (NDA) unanimously elected Prime Minister Narendra Modi as the ruling bloc's leader on Wednesday. The decision was made during a meeting at Modi's residence in New Delhi, a day after the NDA secured a majority in the Lok Sabha election, paving the way for Modi to take the oath for a third consecutive term, a first for any ruling alliance since 1962.

The meeting, attended by prominent leaders such as TDP leader N Chandrababu Naidu, Bihar Chief Minister Nitish Kumar, Maharashtra Chief Minister Eknath Shinde, LJP(R) leader Chirag Paswan, and NCP leader Praful Patel, also saw the passing of a resolution reaffirming the government's commitment to serving the poor, women, youth, farmers, and deprived sections of society.

The resolution said the NDA government will continue working to lift people's living standards for the country's all-round development while conserving its heritage.

"Over the past 10 years, 1.4 billion Indians have witnessed the country develop in every sector under the leadership of the esteemed Prime Minister, Mr. Narendra Modi, through the welfare policies of the NDA government. After a long interval of nearly six decades, the people of India have chosen a strong leadership with an absolute majority for the third consecutive time."

"We all take pride in the fact that the 2024 Lok Sabha elections were fought and won by the NDA under the esteemed leadership of Mr. Narendra Modi. All of us NDA leaders unanimously choose the esteemed Mr. Narendra Modi as our leader."

"Under Mr. Modi's leadership, the NDA government is committed to serving India's poor, women, youth, farmers, and the oppressed, deprived, and suffering citizens. By preserving India's heritage, the NDA government will continue to work towards comprehensive development and improving the standard of living for every citizen of India. This proposal was unanimously passed on June 5, 2024, in New Delhi," read the proposal letter passed by the leaders of the NDA in Delhi.

The National Democratic Alliance (NDA) leaders, in a significant move, passed a resolution emphasizing the alliance government's commitment to serving the marginalized sections of society. The resolution, passed during a meeting in New Delhi, highlighted the NDA's dedication to the welfare and empowerment of the poor, women, youth, farmers, and other deprived segments of the population.

The NDA is set to meet President Droupadi Murmu to stake claim to form the government under Modi's leadership. JD(U) MP Sanjay Kumar Jha stated, "The government under the leadership of Narendra Modi will soon be formed, and very soon a meeting of all the MPs will take place." Eknath Shinde expressed his support for Modi, stating, "Modiji has got a majority. The NDA will form the government under Modiji's leadership."

According to the sources, discussions were held on the government formation by the NDA. According to sources, PM Modi will take the oath for the third time on June 8. Discussions are ongoing regarding the allocation of key portfolios to alliance members.

Despite the BJP falling short of the magic number for the first time since 2014, the NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha. This victory paves the way for Prime Minister Narendra Modi's third term in office.

Meanwhile, President Droupadi Murmu dissolved the 17th Lok Sabha on Wednesday after the recommendation of the Union Cabinet.

"The President accepted the advice of the Cabinet on June 5, 2024, and signed the Order dissolving the 17th Lok Sabha in the exercise of the powers conferred upon her by Sub-Clause (2) of Article 85 of the Constitution," a statement issued by the Rashtrapati Bhavan said on Wednesday.

Earlier in the day, PM Modi tendered his resignation along with his Council of Ministers to President Murmu. The President accepted the resignation and requested that the Prime Minister and his Council of Ministers continue until the new government assumes office.

Also, a meeting of the opposition coalition, INDIA bloc, is convened in Delhi on Wednesday evening. INC president Mallikarjun Kharge said that leaders of the alliance will be meeting to discuss the election results and strategy thereafter.

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News Network
June 11,2024

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Bengaluru: Women in Karnataka have availed themselves of 227 crore free rides in government non-luxury buses under the "Shakti" guarantee in the last one year, costing the state exchequer Rs 5,526.64 crore, Transport Minister Ramalinga Reddy said on Tuesday.

The Congress government, led by Siddaramaiah, launched the "Shakti" scheme one of the five guarantees which the party had promised before the Assembly elections on June 11 last year.

These promises are said to have yielded rich electoral dividends to the Congress, helping it dethrone the Basavaraj Bommai-led BJP government.

As the government celebrates one year of "Shakti" guarantee implementation, Reddy said in a statement that 226.95 women travelled free of cost in the government buses.

Most such rides were accounted for by the Bangalore Metropolitan Transport Corporation buses (BMTC-71.45 crore), followed by Karnataka State Road Transport Corporation (KSRTC-69.5 crore).

North West Karnataka Road Transport Corporation (NWKRTC) and Kalyana Karnataka Road Transport Corporation (KKRTC) posted 52.12 crore and 33.47 crore free rides, respectively.

KSRTC incurred an expenditure of Rs 2,111.14 crore, NWKRTC Rs 1,352.68 crore, KKRTC Rs 1,125.81 crore and BMTC Rs 937.01 crore, the statement said.

Reddy said several measures have been taken to improve the public transport system such as approval for the induction of 5,800 new buses. In addition, 2,438 new buses have been inducted across the four transport corporations in recent times.

According to the minister, the state inducted new buses with brand name Pallakki, Ashwamedha Classic, Kalyana Ratha and Amogha Varsha.

Approval has been accorded for recruitment of 9,000 posts in the department. In this regard, appointment orders have been issued to recruit 1,844 driver-cum-conductors and technical assistants, Reddy said.

"Recruitment for 6,500 posts (KSRTC- 2,500 driver-cum-conductors, BMTC-2,000 conductors, NWKRTC -1,000 drivers and 1,000 conductors) is under process and will be completed soon," the minister said.

The government has also enhanced accident relief compensation from Rs three lakh to Rs 10 lakh to dependents in case of death of any passenger in an accident while travelling in bus operated by state-run corporations, he added.

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News Network
June 4,2024

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New Delhi: Prime Minister Narendra Modi has won the Varanasi Lok Sabha seat for a third time. Mr Modi has beaten the Congress' Ajay Rai by over 1.5 lakh votes. In third place was the Bahujan Samaj Party's Ather Jamal Lari, who finished nearly 5.8 lakh behind the Prime Minister.

The party has won this seat nine times since 1991, with only RK Mishra of the Congress, in 2004, breaking that streak. And it was, for some time, another Congressman who raised opposition hopes.

Earlier today Mr Rai - who has contested and lost each of the past three general elections from the temple town - threatened (briefly) to cause, perhaps, the biggest shock in Indian electoral history.

Initially Mr Rai was leading the Prime Minister by 6,223 votes. As the day wore on, though, the PM stretched his legs and disappeared into the distance, finishing with over 6.12 lakh votes.

However, delight over the Prime Minister's win is likely to be tempered by the BJP's less-than-stellar performance across the state in this election, despite having dominated its electoral politics since 2014, when a 'Modi wave' swept UP (and the country) and corralled 61 of its 80 Lok Sabha seats.

Since then the BJP has been nearly unbeatable in UP.

That was followed by a Yogi Adityanath-led BJP scripting a stunning revival at the state level - by winning 312 of the state's 403 Assembly seats. In 2012 the BJP had won only 47 seats.

Yogi Adityanath claimed a second term in 2022, despite the party being heavily criticised over the farmers' protests. And, before that, the BJP amassed 62 seats in the 2019 general election.

The 2024 Lok Sabha election in UP was expected to be no different, at least according to exit pollsters, who handed Mr Modi's party a big win. A poll of exit polls gave the BJP 68 seats.

The Congress-led INDIA bloc was only expected to get 12 seats.

The reality, though, has been starkly different.

Driven by Akhilesh Yadav's Samajwadi Party, the INDIA group has gone head-to-head with the BJP in UP and will, most likely, finish a distant second - an unthinkable result before today.

The SP is set to win 38 seats - a record haul for the party in Lok Sabha polls - if the numbers hold, while the Congress will win seven. Crucially, the Congress is set to win back the Amethi bastion it lost to the BJP's Smriti Irani five years ago; the outgoing Union Minister had beaten Rahul Gandhi.

However, it is not Mr Gandhi who will gain revenge for the Congress.

It will be Kishor Lal Sharma, after Rahul Gandhi opted to contest the Raebareli seat - in addition to defending his Wayanad seat - left vacant by his mother Sonia Gandhi's shift to the Rajya Sabha.

Mr Gandhi is en route to massive wins from both seats.

The turnaround in UP is the story of the day and underlines the INDIA bloc's surprising challenge to the BJP, which includes tight contests in two other battleground states - Bengal and Maharashtra.

In Bengal Mamata Banerjee's Trinamool fought off an early surge from the BJP and is likely to improve on its haul of 22 (of 42) seats from the 2019 election. More importantly, it will knock back the BJP in the eastern state, from which much was expected after a record haul of 18 last time.

Meanwhile, in Maharashtra the Maha Vikas Aghadi, despite being rocked by splits within the Shiv Sena and Sharad Pawar's NCP, has dominated. The MVA, which also includes the Congress, is on course to win 29 of 48 seats in a state in which the BJP was hoping to make big gains.

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