New Delhi: "If you want to become a millionaire, you buy an airline worth a billion dollars and you become a millionaire." This was a joke narrated by Civil Aviation Minister Ajit Singh when he reiterated his "personal" view on privatising Air India.
The Minister was speaking at the the India Economic Conclave organised by ET Now.
"Personally, I am of the view that the government should not be in services industry, especially something like airlines. It has a very thin margin, highly competitive, capital intensive industry.
"So, for the government to run an airline ... because government decisions are taken by consensus. In airlines business, decisions have to be taken very fast which in government is very difficult,"
Singh said a few months ago he had floated the idea of privatising Air India and there were positive reactions, except from a few political parties.
Opposition parties, including the Left, have slammed the Civil Aviation Minister for saying that government was ready to privatise Air India and accused him of selling public assets without bringing a civil aviation policy.
29/11/13 PTI/Financial Express
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The Minister was speaking at the the India Economic Conclave organised by ET Now.
"Personally, I am of the view that the government should not be in services industry, especially something like airlines. It has a very thin margin, highly competitive, capital intensive industry.
"So, for the government to run an airline ... because government decisions are taken by consensus. In airlines business, decisions have to be taken very fast which in government is very difficult,"
Singh said a few months ago he had floated the idea of privatising Air India and there were positive reactions, except from a few political parties.
Opposition parties, including the Left, have slammed the Civil Aviation Minister for saying that government was ready to privatise Air India and accused him of selling public assets without bringing a civil aviation policy.
29/11/13 PTI/Financial Express
