If you can`t fix it, merge it. And if you still can`t fix it, demerge it. This seems to the government`s prescription for Air India and Indian Airlines which were merged in August 2007 despite widespread criticism.
The government is unlikely to offer more stimulus to the textile sector as data points to a pick-up in exports, mainly to developed countries coming out of an economic slump, the Finance Secretary said on Wednesday.
ONGC has opposed Finance Ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates.
Finance Secretary Ashok Chawla on Tuesday said the RBI`s focus is growth and the time is not ripe for any reversal in the central bank`s accommodative monetary policy despite some concerns regarding inflation.
The life insurance unit of Reliance Capital is seeking an exemption from the normal qualification period before a private insurer can hold an initial public offer, the a media report said on Monday citing finance ministry sources.
The Finance Ministry would give
a final shape to a bailout package for Air India over the next
fortnight and present it before the second meeting of the
high-level Committee of Secretaries on August 29, official sources said.