Budget 2021: Disinvestment, asset monetisation to help govt raise revenue
Resisting the temptation to hike taxes, the finance minister banked on disinvestment and asset monetisation to increase government s revenue.
Rai Vinaykumar | February 2, 2021 | Updated 16:07 IST
The finance minister laid down an ambitious asset monetisation plan for public infrastructure which will help the government raise revenue.
In the Union Budget for 2021-22, presented amidst the COVID-19 pandemic, Finance Minister Nirmala Sitharaman batted for economic growth by increasing government s capital expenditure to Rs 5.54 lakh crore.
However, she resisted the temptation to hike taxes at a time when there were suggestions to increase tax rate for super-rich or levy a COVID tax. Instead, the finance minister banked on disinvestment and asset monetisation to increase government s revenue.
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Acquisition of land for constructing service lanes along the 4.5 km-long city stretch of Tiruchi-Thanjavur Highway is expected to be completed by end of May.
Disclosing this to reporters here on Tuesday, Collector S.Sivarasu said that the land acquisition for the service lanes has been completed in four out of nine villages. The acquisition process in the remaining five villages would most probably be completed by May 31. The issue has been agitating the minds of residents in colonies along the Thanjavur highway ever since the highway section of National Highway 67 was widened into a four-lane by the National Highways Authority of India in 2009-10. The Federation for Retrieval of Tiruchi-Palpannai-Thuvakudi Service Roads has been pressing for early completion of the land acquisition and laying of service lanes to avoid accidents.
HC notice on plea challenging handing over of Mangaluru airport to Adani Group
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The High Court of Karnataka on Tuesday ordered issue of notice to the Ministry of Civil Aviation on a PIL petition questioning the process of handing over of Mangaluru International Airport to Adani Enterprises Ltd. for operations, management and development.
A Division Bench comprising Chief Justice Abhay Shreeniwas Oka and Justice Sachin Shankar Magadum passed the order on the petition filed by Airport Authority Employees’ Union, Mangaluru International Airport.
The petitioner has sought a declaration from the HC that the entire bidding process pursuant to the Cabinet decision of November 8, 2018, and the action of calling for Request for Proposal (RFP) to enter into a concession agreement as illegal. The petitioner has also sought a direction from the court to quash the July 3, 2019, decision of the MCA approving the bid of the Adani Enterprises Ltd. and th
Disinvestment of Air India and Pawan Hans would be completed in 2021-22, Finance Minister Nirmala Sitharaman said on Monday while presenting the Union Budget in which Rs 3,224 crore has been allocated to the Civil Aviation Ministry for the next fiscal year.
Air India is currently undergoing disinvestment process. Multiple entities submitted their expression of interest (EOI) for the carrier in December. The government is likely to reveal the names of qualified bidders in the coming weeks.
Air India Asset Holding Ltd, a special purpose vehicle (SPV), was set up in 2018 as part of the financial restructuring of the debt-laden national carrier. In the Budget for 2021-22, Rs 2,268 crore is proposed to be allocated for the SPV.
Budget 2021: Focus on infrastructure assets, 17 new public health units
February 01, 2021 Finance Minister Nirmala Sitharaman has announced multiple announcements in the area of airport infrastructure.
On February 1, Sitharaman said that 17 new Public Health Units (PHUs) will be operationalised and 33 existing PHUs strengthened at points of entry, “that is at 32 airports, 11 seaports and 7 land crossings.”
She said core infrastructure assets will be rolled out under the Asset Monetisation Programme, including Airports Authority of India airports in Tier II and III cities. “The next lot of airports will be monetised for operations and management concession,” she said.
AAI manages a total of 137 airports which include 24 international airports (3 civil enclaves), 10 custom airports (4 civil enclaves) and 103 domestic airports (23 civil enclaves). AAI provides air navigation services over 2.8 million square nautical miles of air space.