Saturday, July 06, 2019

Rs 4,500 cr earmarked for Aviation Ministry in 2019-20

New Delhi: The Aviation Ministry has been allocated Rs 4,500 crore in the Budget for the current financial year, which is 115 per cent less than Rs 9,700 crore that was given to it during 2018-19 fiscal.

According to Budget documents released on Friday, the Centre has allocated Rs 480 crore for regional connectivity scheme UDAN, under which the "proposal is for revival of 50 airports and Viability Gap funding for North East Connectivity".

In 2018-19, the UDAN scheme was given Rs 441 crore.

The Centre has allocated just Rs 1 lakh in 2019-20 for the "turnaround plan for Air India", as compared to Rs 3,975 crore that was given to the national carrier in the last financial year, as per the documents.

The Air India Asset Holding Ltd, a special purpose vehicle (SPV), has been set up as part of financial restructuring of the debt-laden national carrier.

According to the documents presented in the full Budget for 2019-20, the government has decided to allocate Rs 2,600 crore for the SPV this fiscal.
05/07/19 PTI/Business Standard
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