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Centre mulls closure of PSUs up for sale on case-to-case basis

Thakur noted that the government has given ‘in-principle’ approval for strategic disinvestment of 34 CPSEs, including subsidiaries and units of CPSEs.

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Centre proposes Disinvestment

New Delhi, Sep 19 : The Union government may consider the closure of central public sector units (PSUs) even if they have been approved for strategic disinvestment on a case-to-case basis.

In a written reply to a question in the Lok Sabha, Minister of State for Finance Anurag Thakur said that the government follows a policy of closure of centre public sector enterprises (CPSEs) in terms of the approved revised guidelines dated June 14, 2018 issued by the Department of Public Enterprises (DPE).

“The government may consider the closure of the CPSEs even in cases earlier approved for strategic disinvestment on a case to case basis,” Thakur said, adding that the guidelines issued by the DPE on the closure of CPSEs addresses the concerns regarding the employees and assets.

Thakur noted that the government has given ‘in-principle’ approval for strategic disinvestment of 34 CPSEs, including subsidiaries and units of CPSEs.

Several of these CPSEs are loss making and sick entities where the government in the past had also faced difficulties in strategic disinvestment. Such companies which have lost value could be the ones that may be recommended for closure.

In certain other CPSEs, policy of minority stake sale without transfer of management control through various SEBI approved methods is being followed in order to unlock the value, promote public ownership and higher degree of accountability, he said.

The various modes of disinvestment commonly used for minority stake sale includes Initial Public Offer (IPO), Follow on Public Offer (FPO), Offer for Sale (OFS), buyback of shares and Exchange Traded Funds (ETF).

“Transaction receipts on conclusion of disinvestment transactions depend on the prevailing market conditions and investors’ interest,” the minister said.

The budget estimate (BE) of disinvestment receipts for 2020-21 from disinvestment of CPSEs was fixed at Rs 1.20 lakh crore.

The already lagging disinvestment plans, have been severely impacted by the ongoing pandemic and deadlines for submission of bids major PSUs on the block, such as oil major BPCL and national carrier Air India have been postponed.

The government is also coming up with a new strategic disinvestment policy as announced by the Finance Minister in May. According to sources, the Cabinet may soon take up and approve the new strategic disinvestment policy, which would include the banking and insurance sector.

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This Diwali get discount on Maruti Suzuki up to Rs 55,000

India’s largest carmaker company, Maruti Suzuki is all set for this festive season. It has rolled out Diwali offers to customers on elect Arena and NEXA models including the Wagon R, Swift, Brezza, Baleno, Ciaz and S-Cross.

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India’s largest carmaker company, Maruti Suzuki is all set for this festive season. It has rolled out Diwali offers to customers on elect Arena and NEXA models including the Wagon R, Swift, Brezza, Baleno, Ciaz and S-Cross.

The discount on Arena model will be available till October 16, on the other hand, discounts on other models will be available till October 20. Customers will get up to Rs 55,000 discount if they buy the car this season.

Alto: Customers will get benefits up to Rs 41, 000 on Maruti’s Alto. Both petrol and CNG variants are available with these offers. Maruti Alto’s price ranges from Rs 2.94 lakh to Rs 4.36 lakh.

Maruti S-Presso: Customers will get benefits up to Rs 48,000 on this car. The S-Presso’s will be available in petrol and CNG. The S-Presso is priced from Rs 3.70 lakh to Rs 5.13 lakh.

Maruti Celerio: Customers will get benefits up to Rs 53, 000. The Celerio is priced from Rs 4.41 lakh to Rs 5.68 lakh. The Celerio X ranges between Rs 4.90 lakh and Rs 5.67 lakh.

Maruti Wagon R: Get benefits up to Rs 40,000. These offers are applicable to both the petrol and CNG variants of the Wagon R. Maruti’s tall boy hatchback is priced from Rs 4.45 lakh to Rs 5.94 lakh.

Maruti Swift: Maruti is offering discounts on both the MT and AMT variants of the Swift. Maruti Swift is priced from Rs 5.19 lakh to Rs 8.02 lakh. Get a discount up to Rs 40,000.

Maruti Swift Dzire: Get a discount up to Rs 44,000. Maruti has priced the Dzire from Rs 5.89 lakh to Rs 8.80 lakh.

Maruti Vitara Brezza: The Vitara Brezza is priced from Rs 7.34 lakh to Rs 11.40 lakh. Benefits of up to Rs 45,000 on Maruti’s sub-4 metre SUV.

Maruti Baleno: All variants of the Baleno are offered with these benefits. It’s priced from Rs 5.63 lakh to Rs 8.96 lakh. Get benefits up to Rs 33, 000.

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All new Hyundai i20 to launch in November, check features here

The all-new Hyundai i20 is scheduled to launch in India next month. Hyundai India has released the first set of the new i20’s sketches, showcasing what the car set to arrive in India will look like.

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The all-new Hyundai i20 is scheduled to launch in India next month. Hyundai India has released the first set of the new i20’s sketches, showcasing what the car set to arrive in India will look like. It looks identical to the global-spec model with a few changes here and there.

In a statement, Hyundai Motor India Limited stated, “Deriving its futuristic and dynamic characteristics from ‘Sensuous Sportiness’, the all-new i20 brings harmony between four fundamental elements: Proportion, Architecture, Styling, and Technology. The all-new i20 is designed to evoke an emotional Human – Machine interface representing the persona of Modern Tech Savvy, Ambitious and Sophisticated customers. Set to recreate benchmarks of the premium hatchback segment, the all-new i20 showcases an energetic new avatar and a serene ambience on the inside.”

The design of the all-new Hyundai i20 in India is similar to the model for international markets. Based on the newly-released sketches, the upcoming car in India will get a different response. The rear appears to be unchanged, it is the same as one of the models available in markets across the globe.

New Hyundai i20 is expected to be offered with a choice between three engine options: 1.0-litre turbocharged petrol, 1.2-litre petrol, and a 1.5-litre diesel. For transmission, the upcoming Hyundai car in India will most probably get a choice between a manual transmission, an IVT, an iMT, and a seven-speed dual-clutch automatic based on the selected engine.

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2020 lockdowns to drive new forms of automation: Report

Document extraction, robotic process automation (RPA) from anywhere, drones and various employee robots will proliferate.

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office environmen

The ‘great lockdown of 2020 will make the drive for automation in 2021 both inevitable and irreversible and remote work, new digital muscles and pandemic constraints will create millions of pragmatic automations, according to a new report.

Document extraction, robotic process automation (RPA) from anywhere, drones and various employee robots will proliferate.

“In 2021, up to 30 per cent of organisations will ramp up their focus on quality by better planning and testing automation before deploying it to production or exposing it to employees,” said the Forrester report on automation.

Three times as many information workers will work from home all or most of the time, while many companies will institute hybrid models in which workers come to the office less often.

“As a result of the pandemic, new forms of automation will support one in four remote workers either directly or indirectly by 2022”.

Direct support in the form of giving a bot to individual workers to support their daily journey will be rare.

However, indirect support will blossom, as intelligent automation handles employee benefits questions and supports document, customer service, and line-of-business tasks that are often invisible to the home worker, the findings showed.

Recent rapid growth in the consumer drones industry has sparked momentum in the commercial drone market.

While social distancing is a factor in drone usage, two forces will accelerate adoption in 2021.

“First, governments are crafting better regulations to facilitate drone adoption and commercialization, with Amazon Prime Air gaining FAA approval for drone deliveries and India driving drone pilot training with new policies,” according to the report.

Second, the rapid evolution of computer vision and 5G will enable real-time drone intelligence over ultra-reliable, low-latency communications.

Like machine learning, RPA will become an embedded feature of many platforms by the end of 2021.

“But rushed and haphazard automation exposes systems and the business to serious risk, so the lack of focus on automation quality is alarming, the report warned.

It can lead to monumental failures that not only damage a company’s reputation and customer trust but also limit broader public trust in automation (specifically AI) as a result of media scrutiny, it added.

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