New Delhi: Finance Minister Piyush Goyal on Friday doubled allocation for a special purpose vehicle Air India Asset Holding Limited (AIAHL) set up to service Air India's debt to Rs 2600 crore.
The allocations will be used to service the debt of Rs 29,000 crore that the SPV has taken over from
Air India.
The SPV will also take the assets of Air India, which will be monetised to reduce the loan of Rs. 29,000 crore. In the previous Budget, the government had allocated Rs 1,300 crore for the SPV.
Goyal also set aside Rs 480 crore for the regional connectivity scheme (UDAAN) which the Modi
government claims is targeted at helping the common man take up air travel.
“Because of the Udaan scheme, today an ordinary man is also travelling by air... Domestic passenger traic has doubled during the last five years leading to a large number of jobs being created also,” the minister said.
The Budget also made a provision of Rs 1,084 crore for purchase of two new aircra for Special Extra Section Flight operations. The funds would be used for furnishing the new Boeing 777-300 Extended Range aircra procured by the government to ferry VVIPs such as the President, the Vice President and the Prime Minister.
01/02/19 Sagar Kulkarni/Deccan Herald
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The allocations will be used to service the debt of Rs 29,000 crore that the SPV has taken over from
Air India.
The SPV will also take the assets of Air India, which will be monetised to reduce the loan of Rs. 29,000 crore. In the previous Budget, the government had allocated Rs 1,300 crore for the SPV.
Goyal also set aside Rs 480 crore for the regional connectivity scheme (UDAAN) which the Modi
government claims is targeted at helping the common man take up air travel.
“Because of the Udaan scheme, today an ordinary man is also travelling by air... Domestic passenger traic has doubled during the last five years leading to a large number of jobs being created also,” the minister said.
The Budget also made a provision of Rs 1,084 crore for purchase of two new aircra for Special Extra Section Flight operations. The funds would be used for furnishing the new Boeing 777-300 Extended Range aircra procured by the government to ferry VVIPs such as the President, the Vice President and the Prime Minister.
01/02/19 Sagar Kulkarni/Deccan Herald
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