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Nirmala Sitharaman says Budget 2019 paints 'big picture' of new Modi govt

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Govt identifies ONGC, NTPC, GAIL as options for giving up direct control

Having set the highest-ever disinvestment target of Rs 1.05-lakh crore for the current fiscal, the Modi government is not only looking at selling assets of healthy as well as sick Central Public Sector Enterprises (CPSEs), but also strategic disinvestment in profitable state-run behemoths. The government has identified the biggest energy companies such as Oil & Natural Gas Corp, Indian Oil Corp, NTPC Ltd and GAIL India Ltd as probable candidates for cutting its direct holding to below 51 per cent

Deutsche Bank lay off affects 18,000 employees in Bengaluru, New York, Sydney

Deutsche Bank has started to lay off employees following an announcing of its restructuring plans. Employees all over the world, including in Sydney, Hong Kong, London, New York and Bengaluru were given letters on Monday along with a month's salary.

Nirmala Sitharaman says Budget 2019 paints 'big picture' of new Modi govt

In her reply on the debate over the Union Budget 2019 on Wednesday, Finance Minister Nirmala Sitharaman said at the Lok Sabha that the budget gives a "big picture" of the new Narendra Modi government that has been brought back to power after a resounding victory in the General Elections this year. The minister added that the projected strength made in the Budget is realistic and reflective of the goals of the government

Strategy in place to double farmers' income by 2022, says FM Sitharaman

Finance Minister stated that the Union Budget 2019 made sure that agriculture sector gets prominence while responding to the general discussion on Union Budget 2019 in Lok Sabha on Wednesday. The Finance Minister's comment came in response to the criticism that her maiden Budget speech did not include anything for the troubled agriculture sector.

IndiGo crisis: Issues between promoters have nothing to do with airline, its functioning, says CEO

Issues between promoters have nothing to do with IndiGo and its functioning, the CEO of the airline said in a letter to his employees, a day after a spat between the promoters of the country's largest carrier became public. "The issues between them will eventually get sorted out but I want to stress that these issues have nothing to do with the airline and its functioning," Ronjoy Dutta said.

Rajasthan Budget: Gehlot announces Rs 1,000-cr farmers' welfare fund, infra projects

Rajasthan Chief Minister Ashok Gehlot on Wednesday presented the Budget for 2019-20 which proposed a Rs 1,000 crore fund for farmers' welfare apart from various schemes in irrigation, renewable energy and health sectors. Presenting the Budget in the Rajasthan assembly, Gehlot said a separate feeder at a cost of Rs 5,200 crore will be established to provide uninterrupted electricity supply to farmers

Railways to offer additional 4 lakh berths per day by October with green technology

More than four lakh additional berths will be available to passengers everyday from October when the railways will move to a technology which will help it generate power from engines, rather than power cars, for lighting and air-conditioning, senior officials said Wednesday. Currently, there are one or two power cars at the end of every train in every LHB rake where the electricity to be supplied to coaches is produced in a diesel generator, known as End on Generation (EOG), officials say.