The Department of Public Enterprise (DPE) on September 28, 2016 unveiled guidelines for disposing off moveable and immovable assets of a state run company when it is closed down.
The guidelines prescribe that leasehold land and freehold land would be offered first to central government departments, followed by central government bodies or state run companies, state government departments and state government bodies, state PSUs and state authorities.
Rs 2.2k cr Saksham project for CBDT gets nod
The cabinet on September 28, 2016 approved the Rs 2,256 crore Saksham project, a new indirect tax system of CBDT which will help in integrating with the Goods Et Services Tax Network (GSTN) before GST rollbut It will help in implementation of GST, extension of the customs Single Window Interface for Facilitating Trade
(SWIFT) and other taxpayer-friendly initiatives under Digital India•and Ease of Doing Business of the indirect tax arm of the finance ministry.
15 sick PSUs to be shut down, 3 to be revived
The Centre on September 26, 2016 decided to shut down 15 loss-making public sector undertakings, of which at least five have been cleared by the Cabinet. The government has opted to go against internal advice and revive three other firms.
There were another half-a-dozen sick public sector companies, which had been identified by NITI Aayog for closure, but their fate remained uncertain amid hectic lobbying by ministries, which want to keep them alive in what may be an effort to protect their turf.
The petroleum ministry has opposed shutting down of HPCL Biofuels, while the textiles ministry has managed to elevate the issue of closure of ailing British India Corporation and Elgin Mills to the level of PMO. At least three pharma PSUs were referred to a panel of ministers, which has so far opted to not to close down Hindustan Antibiotics.
Following the heavy industry ministry successfully piloting a proposal to shut down some HMT arms and the shipping ministry getting the cabinet go-ahead for the closure of Central Inland Water Transport Corporation, the government had sought to suggest that it was serious about shutting down chronically loss-making PSUs, which were a drain on the exchequer.
The NITI Aayog, tasked with preparing a roadrpap for ailing PSUs, had submitted two separate lists of sick and loss-making PSUs -one comprising those that can be closed down and the other of those where government can divest its stake.
The guidelines prescribe that leasehold land and freehold land would be offered first to central government departments, followed by central government bodies or state run companies, state government departments and state government bodies, state PSUs and state authorities.
Rs 2.2k cr Saksham project for CBDT gets nod
The cabinet on September 28, 2016 approved the Rs 2,256 crore Saksham project, a new indirect tax system of CBDT which will help in integrating with the Goods Et Services Tax Network (GSTN) before GST rollbut It will help in implementation of GST, extension of the customs Single Window Interface for Facilitating Trade
(SWIFT) and other taxpayer-friendly initiatives under Digital India•and Ease of Doing Business of the indirect tax arm of the finance ministry.
15 sick PSUs to be shut down, 3 to be revived
The Centre on September 26, 2016 decided to shut down 15 loss-making public sector undertakings, of which at least five have been cleared by the Cabinet. The government has opted to go against internal advice and revive three other firms.
There were another half-a-dozen sick public sector companies, which had been identified by NITI Aayog for closure, but their fate remained uncertain amid hectic lobbying by ministries, which want to keep them alive in what may be an effort to protect their turf.
The petroleum ministry has opposed shutting down of HPCL Biofuels, while the textiles ministry has managed to elevate the issue of closure of ailing British India Corporation and Elgin Mills to the level of PMO. At least three pharma PSUs were referred to a panel of ministers, which has so far opted to not to close down Hindustan Antibiotics.
Following the heavy industry ministry successfully piloting a proposal to shut down some HMT arms and the shipping ministry getting the cabinet go-ahead for the closure of Central Inland Water Transport Corporation, the government had sought to suggest that it was serious about shutting down chronically loss-making PSUs, which were a drain on the exchequer.
The NITI Aayog, tasked with preparing a roadrpap for ailing PSUs, had submitted two separate lists of sick and loss-making PSUs -one comprising those that can be closed down and the other of those where government can divest its stake.
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