The present Indian government had the mammoth task of bringing the Indian economy back on track. There was a need for radical reforms to pay off the country’s debts and boost the development process. There was though no mention of the radical reforms in the budget, but the government seems to be in a cost-cutting mode and has tabled a list of 65 sick public sector undertakings (PSU) in the Parliament whose future hangs in the balance.
The government has said that of the 65 heavy loss-making PSUs, it is shutting down five companies including the three HMT units. The Minister for Heavy Industry, Anant Geete informed the Lok Sabha during [...]
The telecom industry is looking forward to the spectrum auction with bated breath. While the government expects to make massive profits, telecom companies will be battling each other to gain spectrum to stay in business. The competition became a little easy today as state telecom companies BSNL and MTNL have backed out of the auction.
The Indian government plans to earn about Rs.1 lakh crore. Both BSNL and MTNL have said that they would now be engaging in the auction as they have no use for any additional spectrum.
The Indian government has been criticized for the high base price for [...]
