Praful Patel Biography

It was just last month that Prime Minister Manmohan Singh had asked the ministers of Coal and the Heavy Industries Minister, to deploy measures such as share buyback and special dividend. This was done to ensure that the industries meet the revenue target that has evolved from the disinvestment. Besides, these policies will also allow them to meet the general budget estimate. In order to iron out the differences over the disinvestment of Coal India Limited and BHEL, Praful Patel had a meeting with Sriprakash Jaiswal, who is the Union coal minister.

  

P. Chidambaram, also attended the meeting, held between the above-mentioned dignitaries. News is that, titans such as BHEL and CIL have been asked to come back with various options such as dividend payments, buyback and disinvestment. On the flipside, Patel shall be chalking out measures that will help in raising proceeds that shall work as an excellent substitute to disinvestment.  He also said that the industry shall have to gather enough fund, through the aforementioned options. 

The coal block auctions should be held in March 2014, is what Sriprakash Jaiswal says. However, he also expressed his desires, of conducting the auction, last December itself. It is to be noted, that a lot goes into the whole auction process, before it can finally be unveiled. Jaiswal also exhorted that the government was in no mood to give away the 11 coal blocks that have been deallocated very recently. 

It seems that the NCP Leader Praful Patel shall have an important role to play, in regards to the features such as disinvestment, for BHEL. Over the years, BHEL has made a healthy contribution, towards the overall growth of the Heavy Industries. It has also provided the Indian government, with enough assistance via technology and work force, for all its underlying projects.