Disinvestment-bound Air India will receive only Rs 650 crore under the government's turnaround plan in the next financial year, less than half of the amount allocated in the current fiscal.
The lower allocation for the ailing carrier in the Budget 2018-19 that was presented today also comes at a time when the stake sale process is on.
The debt-laden airline is staying afloat on taxpayers' money under a turnaround plan approved by the previous UPA regime in 2012.
For 2018-19, Air India has been allocated Rs 650 crore compared to Rs 1,800 crore given for the 2017-18 period, according to a budget document.
As part of a turnaround plan, the national carrier is to receive up to Rs 30,231 crore from the government subject to meeting certain performance thresholds over a ten-year period starting from 2012.
The airline has already received more than Rs 26,000 crore under the package.
01/02/18 PTI/Economic Times
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The lower allocation for the ailing carrier in the Budget 2018-19 that was presented today also comes at a time when the stake sale process is on.
The debt-laden airline is staying afloat on taxpayers' money under a turnaround plan approved by the previous UPA regime in 2012.
For 2018-19, Air India has been allocated Rs 650 crore compared to Rs 1,800 crore given for the 2017-18 period, according to a budget document.
As part of a turnaround plan, the national carrier is to receive up to Rs 30,231 crore from the government subject to meeting certain performance thresholds over a ten-year period starting from 2012.
The airline has already received more than Rs 26,000 crore under the package.
01/02/18 PTI/Economic Times
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