Govt puts off Air India stake sale for now

Agencies
June 19, 2018

New Delhi, Jun 19: The government has decided not to go ahead with Air India stake sale in an election year and will provide required funds for its operations, a senior official said today.

The decision comes less than 3 weeks after the proposed 76 per cent strategic stake sale in debt-laden national carrier failed to attract any bidder.

Air India will very soon get funds from the government for its day to day operations and will even place orders for a couple of aircraft, the government official said.

The decision was taken at the high level meeting convened by Union Minister Arun Jaitley yesterday. The meeting was attended by Piyush Goyal, who has been temporarily given the charge of finance ministry, Civil Aviation Minister Suresh Prabhu, Transport Minister Nitin Gadkari and other senior officials of finance and civil aviation ministries.

"The airline is posting operational profits. None of the flights go empty. With all the cost efficient mechanism in place, we will continue improving its operational efficiency. There is no need to rush in for disinvestment as of now," the official said.

The government is looking at turning around the company to ensure that it makes profits on overall basis before going in for listing.

"Certain conditions have to be met before listing a company. Once Air India fulfils those, we will go in for an initial public offering and subsequent listing," the source said.

As per Sebi norms, a company has to post profit in previous three financial years before it can list itself in the stock exchanges.

"The focus is on improving operational efficiency. We will continue to boost employee morale, starting from the top level, to better the functioning of the airline. Funds would be provided as and when required," the source added.

The government had originally proposed to offload 76 per cent equity share capital of the national carrier as well as transfer the management control to private players. The buyer would have had to take over Rs 24,000 crore debt or the carrier along with over Rs 8,000 crore of liabilities.

However, the stake sale failed to attract any bidders when the bidding process got completed on May 31.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 16,2025

bengal.jpg

The deletion of over 58 lakh names from West Bengal’s draft electoral rolls following a Special Intensive Revision (SIR) has sparked widespread concern and is likely to deepen political tensions in the poll-bound state.

According to the Election Commission, the revision exercise has identified 24 lakh voters as deceased, 19 lakh as relocated, 12 lakh as missing, and 1.3 lakh as duplicate entries. The draft list, published after the completion of the first phase of SIR, aims to remove errors and duplication from the electoral rolls.

However, the scale of deletions has raised fears that a large number of eligible voters may have been wrongly excluded. The Election Commission has said that individuals whose names are missing can file objections and seek corrections. The final voter list is scheduled to be published in February next year, after which the Assembly election announcement is expected. Notably, the last Special Intensive Revision in Bengal was conducted in 2002.

The development has intensified the political row over the SIR process. Chief Minister Mamata Banerjee and her Trinamool Congress have strongly opposed the exercise, accusing the Centre and the Election Commission of attempting to disenfranchise lakhs of voters ahead of the elections.

Addressing a rally in Krishnanagar earlier this month, Banerjee urged people to protest if their names were removed from the voter list, alleging intimidation during elections and warning of serious consequences if voting rights were taken away.

The BJP, meanwhile, has defended the revision and accused the Trinamool Congress of politicising the issue to protect what it claims is an illegal voter base. Leader of the Opposition Suvendu Adhikari alleged that the ruling party fears losing power due to the removal of deceased, fake, and illegal voters.

The controversy comes amid earlier allegations by the Trinamool Congress that excessive work pressure during the SIR led to the deaths by suicide of some Booth Level Officers (BLOs), for which the party blamed the Election Commission. With the draft list now out, another round of political confrontation appears imminent.

As objections begin to be filed, the focus will be on whether the correction mechanism is accessible, transparent, and timely—critical factors in ensuring that no eligible voter is denied their democratic right ahead of a crucial election.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 16,2025

jordan.jpg

Prime Minister Narendra Modi on Monday held talks with Jordan’s King Abdullah II in Amman, during which the two leaders discussed ways to further strengthen bilateral relations, with the Prime Minister outlining an eight-point vision covering key areas of cooperation.

Describing the meeting as “productive”, PM Modi said he shared a roadmap focused on trade and economy, fertilisers and agriculture, information technology, healthcare, infrastructure, critical and strategic minerals, civil nuclear cooperation, and people-to-people ties.

In a post on social media platform X, the Prime Minister praised King Abdullah II’s personal commitment to advancing India–Jordan relations, particularly as both countries mark the 75th anniversary of the establishment of diplomatic ties this year.

“Held productive discussions with His Majesty King Abdullah II in Amman. His personal commitment towards vibrant India-Jordan relations is noteworthy. This year, we are celebrating the 75th anniversary of our bilateral diplomatic relations,” PM Modi said.

The meeting took place at the Al Husseiniya Palace, where the two leaders also exchanged views on regional and global issues of mutual interest. According to the Ministry of External Affairs (MEA), both sides agreed to further deepen cooperation in areas including trade and investment, defence and security, counter-terrorism and de-radicalisation, fertilisers and agriculture, infrastructure, renewable energy, tourism, and heritage.

The MEA said both leaders reaffirmed their united stand against terrorism.

PM Modi arrived in Amman earlier on Monday and was received by Jordanian Prime Minister Jafar Hassan, who accorded him a formal welcome. Following the talks, King Abdullah II hosted a banquet dinner in honour of the Prime Minister, reflecting the warmth of bilateral ties.

Jordan is the first leg of PM Modi’s three-nation tour. From Amman, the Prime Minister will travel to Ethiopia at the invitation of Prime Minister Abiy Ahmed Ali, marking his first official visit to the African nation. The tour will conclude with a visit to Oman.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
December 22,2025

bhagavat.jpg

Kolkata: Stressing that India is a "Hindu nation," Rashtriya Swayamsevak Sangh (RSS) Chief Mohan Bhagwat on Sunday said that no constitutional approval is needed as it is the "truth".

Addressing an event marking 100 years of the RSS, Bhagwat said that India is, and will remain, a Hindu nation until Indian culture is appreciated in the country.

"The Sun rises in the east; we don't know since when this has been happening. So, do we need constitutional approval for that, too? Hindustan is a Hindu nation. Whoever considers India their motherland appreciates Indian culture, as long as there is even one person alive on the land of Hindustan who believes in and cherishes the glory of Indian ancestors, India is a Hindu nation. This is the ideology of the Sangh," he said at the '100 Vyakhyan Mala' program of RSS in Kolkata.

"If Parliament ever decides to amend the Constitution and add that word, whether they do it or not, it's fine. We don't care about that word because we are Hindus, and our nation is a Hindu nation. That is the truth. The caste system based on birth is not the hallmark of Hindutva," he added.

RSS has always argued that India is a "Hindu Nation," given the culture and majority's affiliations to Hinduism. However, 'secular' was not originally part of the Preamble of the Constitution, but it was added along with the word 'socialist' by the Constitution (42nd Amendment) Act, 1976, during the Emergency imposed by then Prime Minister Indira Gandhi.

Bhagwat also urged people to visit the organisation's offices and 'shakhas' to understand its work, so that what he dubbed as the “false perception” of the organisation as anti-Muslim can be dispelled!

Bhagwat said that people have understood that the organisation advocates for the protection of Hindus, and are "staunch nationalists," but not anti-muslim.

"If there is a perception that we are anti-Muslim, then, as I said, the RSS work is transparent. You can come anytime and see for yourself, and if you see anything like that happening, then you keep your views, and if you don't see it, then you change your views. There is a lot to understand (about RSS), but if you don't want to understand, then no one can change your mind," Bhagwat said.

He said, but anyone unwilling to learn cannot be helped.

"After seeing, people have said that you are staunch nationalists. You organise Hindus, and you advocate for the protection of Hindus. But you are not anti-Muslim. Many people have accepted this, and those who want to know more should come and see the RSS for themselves," he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.