Air India likely to have Rs 1,200 cr allocation in budget | india | Hindustan Times
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Air India likely to have Rs 1,200 cr allocation in budget

"We expect a Rs 1,200 crore provision for Air India in the budget," Union Civil Aviation Minister, Praful Patel said. On equity infusion into Air India by the government, Patel said that he expected the Rs 800 crore equity infusion process to be completed over the next eight to ten days.

india Updated: Feb 18, 2010 17:11 IST

Air India expects to have a Rs 1,200 crore allocation in the forthcoming budget, a Central Government Minister said.

"We expect a Rs 1,200 crore provision for Air India in the budget," Union Civil Aviation Minister Praful Patel, told reporters on the sidelines of a function here today.

On equity infusion into Air India by the Government, Patel said that he expected the Rs 800 crore equity infusion
process to be completed over the next eight to ten days.

Yesterday, Patel had said in Delhi that while the infusion was likely to occur over the next few days, the
Government wanted Air India to take "extraordinary" measures for its turnaround.

"We are moving the Cabinet (for equity infusion of Rs 800 crore), a note has already been circulated, I think by
next week the Cabinet approval should come," Patel had said after a meeting of the Group of Ministers formed on the
revival of Air India.