The government is looking to raise Rs30,000 crore through part-sale of its stake in various public sector companies. Additionally, over Rs27,000 crore is expected to come through dividend payments from PSUs.
The government aims to tap various assets to raise an estimated Rs1.52 trillion in the next financial year, nearly half of which could come from telecom spectrum sale and disinvestment in public sector undertakings (PSUs).
The targeted proceeds of Rs1,51,717 crore from the government’s physical and capital assets would account for more than one-tenth of its revenue receipts in 2012-13.
This would be much higher than the amount garnered by levying even an increased service tax of 12% during the year. According to the Budget estimates for 2012-13, the government is looking to raise Rs30,000 crore through part-sale of its stake in various public sector companies. Additionally, over Rs27,000 crore is expected to come through dividend payments from PSUs. It is also expecting nearly Rs23,000 crore in form of dividend from RBI and various nationalised banks and financial institutions, taking its total dividend estimate for 2012-13 to over Rs50,000 crore.
Besides, the government is looking at proceeds of over Rs58,000 crore from its various telecom assets, including Rs40,000 crore from sale of spectrum next year. From its energy assets also, the government is targeting funds worth over Rs13,300 crore, most of which would come in form of royalty on offshore petroleum assets.
In its Budget for 2012-13, the government has estimated total receipts of nearly Rs14.9 trillion, out of which about Rs7.7 trillion would come from tax revenues, close to Rs1.64 trillion from non-tax revenues and about Rs5.55 trillion as capital receipts. The disinvestment proceeds are part of capital receipts, while gains from spectrum sale and other asset-related revenue realisation are part of non-tax revenues.
The projected tax revenues include about Rs3.73 trillion as corporate tax, Rs1.95 trillion as income tax and Rs1.24 trillion service taxes, among others. In this year’s Budget, the government has proposed to hike the service tax from 10% to 12%. For the current financial ending this month, the government had estimated non-tax revenue worth Rs13,000 crore and Rs1,600 crore from auction of telecommunication spectrum and FM phase III, respectively.
While these auctions did not materialise this year, the government managed higher-than-estimated receipts in form of dividend from PSUs. In addition to Rs40,000 crore from spectrum sale next year, the government is targeting more than Rs18,200 crore of revenue from other communication services as well in 2012-13.
This would include licence fees from telecom operators, receipts on account of spectrum usage charges and auction of Broadband Wireless Access (BWA) spectrum currently in use by Central PSUs, receipts from spectrum held in excess of 6.2 MHz and receipts from auction of spectrum, including spectrum to be vacated by 122 licences, in view of a Supreme Court order.
In 2011-12, the government had also targeted Rs40,000 crore as disinvestment proceeds, but could manage only about Rs13,895 crore from part-sale of stake in PSUs.
For the next fiscal, the government is targeting Rs30,000 crore from disinvestment, while another Rs25,000 crore could be realised in the fiscal 2013-14. The government has said that the dividend receipts from PSUs could also be higher next fiscal, as economy is projected to grow at higher rate.
Combe, Inc, and Elder Pharma are introducing three key solutions to help Indian women with their feminine needs
Elder Pharmaceuticals in association with New York based Combe Inc, a global brand leader in feminine care, has introduced Vagisil range of feminine personal hygiene products in India.
Combe, Inc, and Elder Pharma are introducing three key solutions to help Indian women with their feminine needs: Vagisil anti-itch creme, Vagisil intimate feminine wash and Vagisil intimate feminine lubricant.
“The Vagisil range of feminine hygiene products has been launched in India keeping in mind growing day to day problems of women including vaginal itching, dryness, odour, irritation, burning, redness, discharge and discomfort,” said Alok Saxena, joint managing director, Elder Pharma.
“The Vagisil anti-itch creme is a fast acting external itch reliever that soothes irritated skin and helps reduce further irritation. And it has patented odour block technology,” said Roberta Bloom, director of product safety and scientific support, Combe, Inc.
In the early afternoon, Elder Pharmaceuticals was trading at around Rs319.95 per share on the Bombay Stock Exchange, 0.28% down from the previous close.
Parekh Aluminex has not provided any financial details of the acquisition
Incorporated in 1994, Parekh Aluminex said that it is in process of acquiring 100% shares of American Foils Inc based in USA, by which it will become a wholly owned subsidiary of the company. However, no financial details of the acquisition were provided.
American Foils Inc is engaged in the business of manufacturing of aluminium pans, rolls, containers, foils, etc. This acquisition would strengthen the presence of the company in North America.
Parekh Aluminex is engaged in manufacturing and sale of aluminium foil containers (AFCs), its lids and covers and aluminium foil rolls (AFRs). The products find their application in packaging of food items in travel industry such as airlines, railways, fast food chains, restaurants, hotels etc and in household uses.
In the early afternoon, Parekh Aluminex was trading at around Rs321.75 per share on the Bombay Stock Exchange, 4.99% up from the previous close.