TWENTY YEARS is a long time. That’s what it took to execute the privatisation of Air India. The process was set in motion in year 2000, albeit the idea for selling it was first proposed in 1988, following the successful sell off of British Airways and other national assets by the Margaret Thatcher government in the UK. “Air India was the Holy Grail of public sector privatisation. The sentiment in the government was, ‘If we can successfully privatise Air India, we can sell anything.’ Now that it’s done, it’s up to them to leverage it,” a market source told Business Today requesting anonymity. The sale of Air India is to fetch the government ₹18,000 crores, and would give the buyer, Tata group, ownership of Air India, its low-cost unit Air India Express, and a 50 per cent stake in the airline’s ground and cargo handling subsidiary, Air India SATS Airport Services (AISATS).
Privatisation is a multi-layered, complex process. The dos and don’ts from the Air India experience might well serve as a template for future such deals. And the government sorely needs the template. Consider this. ₹1.75 lakh crore is the revenue target through privatisation in fiscal 2021-22. (That would include both privatisation and disinvestment.) However, the target looks far off, with only ₹9,329.9 crore in the bag so far (see Far from Target), and only two months left in the fiscal. Add to that the fact that these days, asset monetisation, disinvestment and privatisation are often used interchangeably. (The government is looking at raising ₹6 lakh crore through asset monetisation alone.)
この記事は Business Today の February 06, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today の February 06, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
The Dark Side Of Gold Loans
There Has Been A Sharp Rise In Gold Loans In Recent Years. But There Is A Seedier Side To This, As Is Evident From The Red Flag The RBI Raised Recently. Will The Regulator's Move Protect Customers?
All That Glitters
The price of gold has been rising unabated. It has soared to more than 73,000 per 10 gm in 2024 from *31,000 in early 2018. Is the rally sustainable or is this a bubble?
"Hire for attitude, not ability"
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions
Road Warrior
For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life
WIDENING THE POOL
THERE HAS BEEN A JUMP IN INDIVIDUALS INVESTING DIRECTLY IN THE STOCK MARKETS, BUT MUMBAI AND AHMEDABAD STILL ACCOUNT FOR THE LION'S SHARE. THERE DEFINITELY IS SCOPE FOR IMPROVEMENT IN TERMS OF PENETRATION LEVELS ACROSS THE COUNTRY
CRISIS IN THE CLOUDS
INDIAN AVIATION IS IN CRISIS. AIRLINES ARE GRAPPLING WITH FLIGHT CANCELLATIONS, CREW SHORTAGES, AND COMPLAINTS ABOUT POOR SERVICE, ARE BLEEDING DUE TO RISING COSTS WILL THE FASTEST-GROWING AVIATION MARKET RECOVER?
"India should start privatising public sector banks"
Arvind Panagariya, Chairman of the 16th Finance Commission, on growth, inequality, jobs, the banking sector, and more
"I LET MY WORK DO THE TALKING"
Megha Engineering & Infrastructures MD P.V. Krishna Reddy on being low profile, the infra opportunity and much more
"Core of insurance lies in long-term security"
Vibha Padalkar, MD & CEO of HDFC Life, on the insurance provider's performance, surrender charges, and future innovations
Distress in the Books
Bandhan Bank, the brainchild of Chandra Shekhar Ghosh, has made the journey from an MFI to a bank, but with many hurdles. Now with his resignation as MD & CEO, is the lender staring at more uncertainty?