New Delhi, Feb 1: The fate of the national carrier, Air India might be revealed when Finance Minister Arun Jaitley presents the Union Budget 2018. It is likely that some big-ticket announcement is made by the Finance Minister. While details of its disinvestment plan are not finalised yet, the government might release a large chunk of its shares for private companies’ taking. (Full Coverage) Also Read - Finance Act 2018 Clarifies Applicability of Standard Deduction For Pensioners
Last year, the Government of India announced Rs 1,800 crore capital infusion in the beleaguered website. This year too, Air India had asked for another bailout package of Rs 1,400 crore. Additionally, it had asked for Rs 1,100 crore for modification of two Boeing aircraft the company might acquire in the near future. Also Read - List of Things That Will be More Expensive From April 1, 2018
The Economic Survey of India said on Monday that the government will complete the disinvestment process by the next fiscal year. Also Read - Armed Forces Facing Shortage of 52,000 Soldiers, Army's 21,000 Posts Vacant: Govt
“The agenda for the next year consequently remains full: stablizing the GST, completing the TBS actions, privatizing Air India, and staving off threats to macro-economic stability,” the government said.
Minister of State for Civil Aviation, Jayant Sinha said that the company might split into four parts for its sale. A foreign player might also hold 49% stake in Air India. There might be some announcement regarding that.