TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    CM Yogi Adityanath welcomes Amit Shah with the idol of Ram Lalla

    Saffron Show of Strength: How the Shah-Yogi Hug Left the Opposition’s Rift Theory in Ruins

    Prime Minister Narendra Modi departs from New Delhi on June 15, 2025, for a three-nation tour to Cyprus, Canada, and Croatia. (Image courtesy: PMO/IANS)

    After Operation Sindoor, PM Modi’s 3-Nation Tour Sends a Clear Message: India Will Lead the Global War on Terror

    Relief and rescue operations underway at crash location

    Kedarnath Helicopter Crash: A Wake-Up Call for Safety Amid the Spiritual Surge

    Same Seat, Same Miracle: Thai Singer’s 11A Survival Mirrors Air India Tragedy

    Thai Singer Reveals Chilling Link to Air India Crash Survivor: Both Sat in Seat 11A

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    real estate

    US Firms Hit All-Time High in Office Space Leasing Across India: Report

    PM Narendra Modia

    11 Years of Modi Govt: Making Welfare Seamless with Direct Benefit Transfers, DigiLocker, UMANG

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    real estate

    India Retains Top Spot Among Global Investment Hubs for Land and Development Projects

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    congress leader likens operation sindoor to a computer game

    Congress’ Patole terms Operation Sindoor as ‘Video Game’, Sparks Controversy

    India-Russia Pact on the Su‑57 as a Leap of Strategic Trust

    From Buyer to Partner: What the Su‑57 Means for India’s Military Autonomy Inside Russia’s Su‑57 Gamble with India

    Dassault and Tata to Begin Rafale Fuselage Production in India

    Dassault and Tata to Begin Rafale Fuselage Production in India, Marking Major Milestone in Defence Manufacturing

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    top officials killed in Iran

    Israel’s Operation ‘Rising Lion’ Strikes Iran, Decimates Top Military and Nuclear Command in a Single Night

    The Dismantling of Iran’s Revolutionary Grip and What India Can Learn from Israel

    The Dismantling of Iran’s Revolutionary Grip and What India Can Learn from Israel

    israel iran tensions escalate

    Air India Flights Diverted or Recalled as Iran-Israel Conflict Escalates; India Issues Advisory to Citizens in Israel

    Israel Launches Preemptive Strikes on Iran; Explosions Reported in Tehran

    Israel Launches Preemptive Strikes on Iran; Explosions Reported in Tehran

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath rath yatra

    Everything You Need to Know About Jagannath Rath Yatra: History, Significance, Rituals, and Celebrations

    Bobby Mukkamala Becomes 1st Indian-American President of AMA

    Bobby Mukkamala Becomes First Indian-American President of the American Medical Association

    The Vedic Ethos: A Civilization of Knowledge and Inquiry

    From Rigvedic Wisdom to Modern Decay: How Islamisation Crushed a Knowledge Civilization

    Ram Mandir Pran Pratishtha 2.0

    Thousands Gather in Ayodhya for Ram Darbar Pran Pratishtha Ceremony

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    unhealthy food

    The 10 Most Unhealthy Foods You Might Want to Rethink

    How to Use CBD Oil: Methods, Benefits & Timing (For Humans and Pets)

    How to Use CBD Oil: Methods, Benefits & Timing (For Humans and Pets)

    ODI highest score team: A record-breaking journey Through cricket’s biggest totals

    ODI highest score team: A record-breaking journey Through cricket’s biggest totals

    Bangalore: High Court of Karnataka in Bangalore. (Photo: IANS)

    RCB Moves HC to Quash FIR in Bengaluru Stampede Case, Cites Govt Approval for Celebration

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    CM Yogi Adityanath welcomes Amit Shah with the idol of Ram Lalla

    Saffron Show of Strength: How the Shah-Yogi Hug Left the Opposition’s Rift Theory in Ruins

    Prime Minister Narendra Modi departs from New Delhi on June 15, 2025, for a three-nation tour to Cyprus, Canada, and Croatia. (Image courtesy: PMO/IANS)

    After Operation Sindoor, PM Modi’s 3-Nation Tour Sends a Clear Message: India Will Lead the Global War on Terror

    Relief and rescue operations underway at crash location

    Kedarnath Helicopter Crash: A Wake-Up Call for Safety Amid the Spiritual Surge

    Same Seat, Same Miracle: Thai Singer’s 11A Survival Mirrors Air India Tragedy

    Thai Singer Reveals Chilling Link to Air India Crash Survivor: Both Sat in Seat 11A

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    real estate

    US Firms Hit All-Time High in Office Space Leasing Across India: Report

    PM Narendra Modia

    11 Years of Modi Govt: Making Welfare Seamless with Direct Benefit Transfers, DigiLocker, UMANG

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    India Ranks 2nd Globally in Social Security Coverage for the Poor, Says ILO

    real estate

    India Retains Top Spot Among Global Investment Hubs for Land and Development Projects

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    congress leader likens operation sindoor to a computer game

    Congress’ Patole terms Operation Sindoor as ‘Video Game’, Sparks Controversy

    India-Russia Pact on the Su‑57 as a Leap of Strategic Trust

    From Buyer to Partner: What the Su‑57 Means for India’s Military Autonomy Inside Russia’s Su‑57 Gamble with India

    Dassault and Tata to Begin Rafale Fuselage Production in India

    Dassault and Tata to Begin Rafale Fuselage Production in India, Marking Major Milestone in Defence Manufacturing

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    top officials killed in Iran

    Israel’s Operation ‘Rising Lion’ Strikes Iran, Decimates Top Military and Nuclear Command in a Single Night

    The Dismantling of Iran’s Revolutionary Grip and What India Can Learn from Israel

    The Dismantling of Iran’s Revolutionary Grip and What India Can Learn from Israel

    israel iran tensions escalate

    Air India Flights Diverted or Recalled as Iran-Israel Conflict Escalates; India Issues Advisory to Citizens in Israel

    Israel Launches Preemptive Strikes on Iran; Explosions Reported in Tehran

    Israel Launches Preemptive Strikes on Iran; Explosions Reported in Tehran

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath rath yatra

    Everything You Need to Know About Jagannath Rath Yatra: History, Significance, Rituals, and Celebrations

    Bobby Mukkamala Becomes 1st Indian-American President of AMA

    Bobby Mukkamala Becomes First Indian-American President of the American Medical Association

    The Vedic Ethos: A Civilization of Knowledge and Inquiry

    From Rigvedic Wisdom to Modern Decay: How Islamisation Crushed a Knowledge Civilization

    Ram Mandir Pran Pratishtha 2.0

    Thousands Gather in Ayodhya for Ram Darbar Pran Pratishtha Ceremony

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    unhealthy food

    The 10 Most Unhealthy Foods You Might Want to Rethink

    How to Use CBD Oil: Methods, Benefits & Timing (For Humans and Pets)

    How to Use CBD Oil: Methods, Benefits & Timing (For Humans and Pets)

    ODI highest score team: A record-breaking journey Through cricket’s biggest totals

    ODI highest score team: A record-breaking journey Through cricket’s biggest totals

    Bangalore: High Court of Karnataka in Bangalore. (Photo: IANS)

    RCB Moves HC to Quash FIR in Bengaluru Stampede Case, Cites Govt Approval for Celebration

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

BPCL Privatization: PM Modi’s legal masterstroke that has left lawyers like Prashant Bhushan completely clueless

Haahahha, this is epic

Amit Agrahari by Amit Agrahari
22 November 2019
in Economy1
BPCL Privatization
Share on FacebookShare on X

The government ownership of companies has been a hurdle to economic growth of the country for decades. The vicious phase of Nationalization, started by Indira Gandhi in late 1960s, caused immense damage to Indian economy. Mrs. Gandhi nationalized one industry after another, from banks to insurance companies and energy to power sector, almost every productive sector which could have propelled the growth of the Indian economy was put in the inefficient hands of the government.

The Modi government started privatization drive, in the first term itself, albeit with a softer and a measured stance. But in the second term, Modi government has been trying push for privatization in a more aggressive manner.

RelatedPosts

“I Don’t Know How I Survived,” Says Sole Survivor of Air India Crash in Emotional Meeting with PM Modi

At least 241 Dead, One Survivor in Air India Crash; PM Modi Visits Ahmedabad Site

‘Canadian PM Mark Carney Needs to Handle Khalistan Issue Diplomatically’

Load More

In the latest privatization drive, the government decided to privatize the oil distribution and refinery major- Bharat Petroleum Corporation Limited (BPCL). BPCL, which was earlier known as Burma Shell. BPCL was taken over by the Government of India on 24 January 1976, and renamed Bharat Refineries Limited. In 2003, the Vajpayee government under the leadership of divestment minister Arun Shourie, tried to privatize the refinery major. But, a PIL by the Centre for Public Interest Litigation, led by left liberal activist and lawyer Prashant Bhushan restrained the central government from privatizing Hindustan Petroleum and Bharat Petroleum.

Narendra Modi was the Chief Minister of Gujarat back then but it probably didn’t miss his seasoned eyes. In 2016, under the Repealing and Amending Act of 2016, his government annulled “187 obsolete and redundant laws lying unnecessarily on the Statute-Book” and the list also included the 1976 act that Nationalized the Burma shell and effectively halted PM Vajpayee in his heels from privatizing it in 2003 itself. Bibek Debroy, chairman to Economic Advisory Council of Prime Minister, led the repeal drive and, he very smartly repealed the 1976 act.

No media person, parliamentarian or activist like Prashant Bhushan caught a whiff of it as the government smartly repealed the 1976 nationalization act to clear the way for the privatization of BPCL.

BPCL is among the largest oil refining companies, accounting for 15 percent of countries refining capacity. It has market value to more than 1 lakh crore rupees and the government has above 50 percent stake in the company. The privatization will bring lakhs of crore rupees to the government coffers.

India has the fourth largest oil refinery capacity in the world after United States, China, and Russia. The US has refining capacity 841 MTPA while China has capacity of 589 MTPA. China alone accounts for 41 percent of Asia’s production capacity while Russia has capacity of 282 MTPA. India has 266 MTPA production capacity and may soon overtake Russia. The West Coast refinery, which will increase the capacity by 60 MTPA, is expected to become functional by early 2020s while India is set to overtake Russia before it becomes operational.

BPCL Privatization

Indian economy grew at the so-called Hindu Rate of Growth (A term coined by establishment economist Raj Krishna, as he blamed Hinduism for the low economic growth and argued that India could never grow at a faster pace due to Hindu culture) due to socialist economic policies. The economic growth of the country was slow “because of those very socialist policies that their kind had swallowed and imposed on the country, our growth was held down to 3–4 per cent, it was dubbed — with much glee — as ‘the Hindu rate of growth,” said business journalist and author Arun Shourie.

BPCL Privatization

Modi government a stern believer of the Chankyan economic model and wants India to become a rule of law based capitalist economy. Therefore, the government decided to privatize many loss-making PSUs in the first term. The government will be more aggressive on privatization in the second term.

The government exceeded the disinvestment target by 5,000 crore rupees with the total disinvestment of 85,000 crore rupees. Modi government had set the disinvestment target at 80,000 crore rupees for the fiscal year 2018-19. It exceeded the disinvestment target in FY 18 too. The target for FY18 was 72,500 crore rupees while the disinvestment reached 1 lakh crore rupees. Department of Investment and Public Asset Management (DIPAM) has set the target of 90,000 crore rupees for FY 20.

Now Prashant Bhushan has no rule to latch on to. He succeeded in bettering PM Modi’s mentor but PM Modi turned out to be too smart and legally more qualified than him.

Tags: BPCLPM ModiPrashant BhushanPrivatization
Share172TweetSend
Previous Post

Mahima Kukreja, the woman whose story started the MeToo movement in India turns out to be a fake

Next Post

Amit Shah proves again why he is hailed as the Chanakya of modern Indian politics

Related Posts

real estate
Economy1

India Retains Top Spot Among Global Investment Hubs for Land and Development Projects

11 June 2025

India has reaffirmed its position as one of the world's most attractive destinations for cross-border investment in land and...

Centre approves Rs 10,601 Crore for Assam’s Namrup-IV Fertilizer Project
Business

Centre approves Rs 10,601 Crore for Assam’s Namrup-IV Fertilizer Project

19 March 2025

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a proposal to establish a new brownfield ammonia-urea...

RBI Wins Digital Transformation Award 2025 by Central Banking, London, UK, PM Modi Congratulates the RBI
Business

RBI Wins Digital Transformation Award 2025 by Central Banking, London, UK, PM Modi Congratulates the RBI

16 March 2025

Commendable accomplishment: PM Modi hails RBI’s digital transformation award win New Delhi, March 16 (IANS) Prime Minister Narendra Modi...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Marriage gone murderous: expert explains the gruesome murder case.

Marriage gone murderous: expert explains the gruesome murder case.

00:13:01

An Israeli tells why Israel hit Iran | Middle East Crisis |

00:33:03

From parliament to primetime: smriti irani is Tulsi again!

00:03:24

Islam is on the track to become the fastest growing religion in the world.

00:09:34

BJP, bakrid and the cow. CM Manik Saha in eye of the storm.

00:03:56
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited