Wednesday, January 10, 2018

Congress, CPI-M question government over Air India divestment

New Delhi: The Congress and the Communist Party of India (Marxist) on Wednesday slammed Prime Minister Narendra Modi government’s move to divest its 49 per cent stake in Air India and allow 100 per cent foreign direct investment (FDI) in single-brand retail.

Congress leader and former Union Minister Anand Sharma said the government should come clear on the Air India deal as to whether the national carrier's assets "worth lakhs of crores of rupees" and its route rights would also be transferred to the investor.

Sharma said the UPA government had consciously kept Air India out of the purview of FDI though it had allowed 49 per cent FDI in the civil aviation sector.

"It is true that the national carrier has faced challenges, but so have other airlines. We have to examine the government's decision closely. Whether it also allows foreign carriers (to invest), which presumably is the case, then it raises some fundamental questions," Sharma said.
10/01/18 Tribune

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