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The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, today approved the disinvestment of 5 percent paid-up capital in Oil & Natural Gas Corporation Ltd. (ONGC) out of the Government of India’s shareholding of 68.94 percent.

This would further broad base the shareholding of the Company and would enhance disinvestment receipts.

Background:

ONGC is a "Maharatna" public sector undertaking under the administrative control of the Ministry of Petroleum & Natural Gas. It was established in August, 1956 to plan, promote, organize and implement programmes for development of petroleum resources and the production and sale of petroleum products by it.

The paid-up equity capital of the company, as on 31st March, 2014 is Rs.4277 crore. The President of India holds 68.94 percent of the paid up capital in ONGC. In accordance with the Government of India's disinvestment policy, the Government has decided to disinvest 5 percent paid-up equity in ONGC, out of its equity capital holding of 68.94 percent through Offer for Sale (OFS) method in the domestic market as per Securities and Exchange Borad of India (SEBI) Rules and Regulations. After this disinvestment, the Government of India’s shareholding in the company would come down to 63.94 percent.

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PM greets NDRF team on their Raising Day
January 19, 2022
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The Prime Minister, Shri Narendra Modi has greeted the National Disaster Response Force (NDRF) team on their Raising Day.

In a series of tweets, the Prime Minister said;

"Greetings to the hardworking @NDRFHQ team on their Raising Day. They are at the forefront of many rescue and relief measures, often in very challenging circumstances. NDRF’s courage and professionalism are extremely motivating. Best wishes to them for their future endeavours.

Disaster management is a vital subject for governments and policy makers. In addition to a reactive approach, where disaster management teams mitigate the situation post disasters, we also have to think of disaster resilient infrastructure and focus on research in the subject.

India has undertaken an effort in the form of the 'Coalition for Disaster Resilient Infrastructure.' We are also working on further sharpening the skills of our NDRF teams so that we can save maximum life and property during any challenge."