Forecast
Forecast http://anoopastrosutra.com/2013/07/01/daily-forecast-india-july-1st-2013/, mentioned that government’s decision related to aviation may become an issue or scam. Times of India has flashed a report related to Take Jet-Etihad deal, and this is related with the involvement of PMO. Govt divided over Jet-Etihad deal, cab secy calls meet Hindustan TimesBy HT Correspoxndent | Hindustan Times India, July 2 — There is a deep divide within the government over the Rs. 2,058-crore Jet Airways-Etihad deal. To resolve this, cabinet secretary Ajit Seth will chair a meeting of secretaries on Tuesday to discuss the transaction following security-related objections raised by the prime minister’s office. Abu Dhabi’s national carrier Etihad Airways had, on April 24, announced that it would purchase a 24% stake in Jet for Rs. 2,058 crore, a premium of more than 20% over the prevailing market price of Jet shares. But on June 13, the foreign investment promotion board (FIPB) deferred a decision on approving the deal saying it needed more clarity on the ownership structure of Jet Airways as well the control that Etihad would exercise over the Indian carrier following the deal. Jet chairman Naresh Goyal owns a 51% stake in the airline. In April, the deal was being seen as a sign of India’s attractiveness as an investment destination despite issues like rising inflation and current account deficit. But the deal has been severely criticized by a parliamentary committee led by CPI(M) leader Sitaram Yechury as well as by several […]