Tuesday, July 31, 2018

Government seeks Parliament nod for $143 mn capital injection in Air India

New Delhi: The government today sought Parliament's approval for Rs 980 crore as supplementary grant for equity infusion in Air India which is grappling with financial crunch.
The amount is part of the total gross additional expenditure of Rs 11,697.92 crore, for which approval has been sought from the Parliament.
The grant has been sought as part of equity infusion into Air India under the Turnaround Plan (TAP), as per the document tabled in the Lok Sabha for supplementary demand for grants for 2018-19.
"Taking into account the surrender of savings available in the revenue section of the grant, the ... expenditure (Rs 980 crore) will not entail any additional cash outgo," it added.
31/07/18 PTI/Economic Times