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Hindustan Aeronautics’s 15% OFS likely early March

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Hindustan Aeronautics Ltd

New Delhi, Feb 8 : Stepping up its efforts to achieve the target of Rs 65,000 crore in FY20, Disinvestment Department (DIPAM) may issue the 15 per cent government equity for sale through OFS route in the first week of March for Hindustan Aeronautics Ltd, sources said.

At the current market price of Rs 774 apiece, the share sale will fetch the government a little over Rs 3843 crore. The company had reported a net profit of Rs 2,282 crore in fiscal 2018-19.

Sources said the efforts are on to hold the OFS by March first week. OFS is the quickest way to go for receipts for fetching sell-off revenues. Last month, the department issued request for proposals (RFP) from merchant bankers and brokers for the OFS.

The government holds 89.97 per cent of equity in HAL. The face value of each equity share is Rs 10. So far the government has garnered Rs 34000 crore which includes Rs 16,500 crore from the 7th tranche of the CPSE ETF.

The authorised share capital of the 55-year old company is Rs 600 crore and the paid up equity capital is Rs 334.39 crore as of March 31, 2019.

“The government is also considering allotting shares to eligible and willing employees of HAL at a discount to the Issue/discovered price (lowest cut off price) up to a maximum of certain percentage of the OFS size subsequent to completion of the transaction under OFS. The percentage and extent shall be decided in due course,” it said.

India

Modi, Shah can’t always help, RSS cautions BJP

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Modi and Amit Shah

New Delhi, Feb 20 : “A bad candidate cannot claim a premium just because the party he belongs to is good. An evil is an evil…” This commentary on BJP is not by any opposition leader but from within.

RSS’ English language mouthpiece ‘Organiser’ has come up with a scathing observation, quoting Deendayal Upadhyaya, on the BJP, it’s Delhi unit and the candidates who were launched in the poll fray in the aftermath of a humiliating loss in the national capital.

In a no-nonsense approach, the author asserted that the BJP as an organisation needs to understand that Amit Shah and Narendra Modi “cannot always help out”.

“Narendra Modi and Amit Shah cannot always help out in the Assembly level elections and there is no option but to rebuild the organisation in Delhi to address the local aspirations,” read the article.

The article titled ‘Delhi’s Divergent Mandate’ authored by its editor Prafulla Ketkar called for understanding the “context of city-state voting behaviour” in Delhi. The article says the answer lies in the changing character of aspirational Delhi.

Stating that the ‘Shaheen Bagh narrative’ failed for the BJP because Arvind Kejriwal steered clear of it. But taking a dig at the saffron avatar of Kejriwal, the author subtly asks BJP to keep a watch on him. He asks, “This genie of Muslim fundamentalism experimented under the pretext of CAA may create a new testing ground for Kejriwal. How does Kejriwal respond to this danger? How far was his chanting of Hanuman Chalisa genuine?”

It was reported earlier that both the Sangh and VHP are content with the Hindu-centric politics that forced Kejriwal to adapt to the changing trend. But Ketkar is apprehensive that it’s not ‘genuine’ side of the AAP.

He sent out a clear message to the Delhi unit: you failed. The apparent failure of BJP to revitalise the organisational structure at the grassroots level after 2015 was recognised as one of the prominent reasons for the poll debacle in which BJP secured just eight seats as AAP swept to power with 62 seats.A

After the defeat, the BJP went into multiple huddles — one with general secretaries, another in which Delhi BJP chief Manoj Tiwari was quizzed by party chief J.P. Nadda and General Secretary (Organisation) B.L. Santosh and several others.

While the Delhi unit has blamed it on Congress giving it up, thus making it easy for the Aam Aadmi Party, the central BJP blames the faction-ridden Delhi unit as well. This is one of the reasons why the party refused to project any chief ministerial face ahead of the polls.

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No-Bag Day on Saturdays for Rajasthan students

The Chief Minister also announced Rs 100 crore for setting up a ‘Tourism Development Fund’ and said that the policy for ‘ease of travelling in Rajasthan’ will be pursued.

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Students School Bags

Jaipur, Feb 20 : Rajasthan Chief Minister Ashok Gehlot on Thursday announced a ‘No-Bag Day’ on Saturdays for students of government schools across the state.

Delivering his customary speech during the presentation of the state Budget in the Assembly, he said that though there would be no studies on the said day, activities related to happiness therapy, literature and culture, sports, personality development, moral values, scout, tips to stay healthy etc shall be organised for the students.

Also, parent-teacher meetings would be held on Saturdays to enable the school teachers update the parents on their wards’ academic performance, the Chief Minister added.

Gehlot also announced huge funds for sportspersons in Rajasthan. Those winning gold medals in the Olympics will henceforth get Rs 3 crore from the state government, compared with Rs 75 lakh earlier. Silver medallists will get Rs 2 crore against Rs 50 lakh earlier and bronze medallists Rs 1 crore against Rs 30 lakh earlier.

Asian Games gold medallists will now get Rs 1 crore, silver winners Rs 60 lakh and bronze medallists Rs 30 lakh as compared to Rs 30 lakh, Rs 20 lakh and Rs 10 lakh respectively earlier on. As many as 500 coaches will be appointed on contractual basis to nurture sports talent in the desert state.

The Chief Minister also announced Rs 100 crore for setting up a ‘Tourism Development Fund’ and said that the policy for ‘ease of travelling in Rajasthan’ will be pursued.

Another important Budget proposal was that those injured in an accident in Rajasthan can’t be denied treatment by private hospitals. It would be mandatory for these hospitals to attend to injured patients or else action would be taken against the erring institute, Gehlot said, adding that a law would be formulated in this regard, if need be.

Gehlot announced seven resolutions of his government — Nirogi Rajasthan; Sampann Kissan; Mahila, Bal and Vridhh Kalyan; Saksham Mazdoor, Chhatra Yuva Javan; Shiksha ka Paridhan; Pani, Bijli aur Sadkon ka Maan; and Kaushal and Takneek Pradhan.

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Rajasthan CM Gehlot promises 50,000 jobs

Despite several vacancies getting stuck in legal tangles and the proverbial red tapes, Gehlot sounded confident of creating around 50,000 jobs this year.

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Ashok Gehlot

Jaipur, Feb 20 : One post of constable and 309 applicants! It only reflects the grim unemployment scenario in the state.

For the post of 5,483 constables, announced to be filled this year, around 17 lakh applications have been received. Most applications have come from Jaipur, Jodhpur and Udaipur, Biju George, Additional Director General of Police (ADGP) in charge of the recruitment, told IANS.

Confirming the number of applicants, the ADGP said in 2018, against 10,000 openings the department had received over 15 lakh applications — 150 contenders for one post.

Meanwhile, presenting his second budget in the Assembly on Thursday, Chief Minister Ashok Gehlot announced that the government would create 53,181 jobs this year. Gehlot also holds the finance portfolio.

The state government, according to him, has created 34,682 jobs and 82,000 appointments are under process in his current tenure. The Congress government came to power in the state in December 2018.

In 2020-21, the maximum number of jobs (41,000) would be created in the education sector, followed by the home department (5,000), the health sector (4,369), the local self-government (1,039), the cooperative department (1,000), and the medical education (573), Gehlot said. The General Administration Department would get 200 new posts, he added.

Despite several vacancies getting stuck in legal tangles and the proverbial red tapes, Gehlot sounded confident of creating around 50,000 jobs this year.

On Barmer Refinery and Petrochemical Complex, the Chief Minister said the government would complete the project within the deadline. It would further create jobs, Gehlot added.

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