New Delhi: The Budget has delivered a mixed bag for the Indian aviation sector. Air India has been provided ?2,500 crore as against its request for ? 4,277 crore.
The funds have been provided despite Finance Minister Arun Jaitley announcing in his Budget speech that the Government will look at disinvestment in loss-making units and some strategic disinvestment. The airline’s net loss came down to ?5,389 crore in the last fiscal, compared with ?5,490 crore in financial year 2013, and ?7,559.74 crore in FY12.
Budget 2015-16 also provides ?80 crore to the Airports Authority of India, of which ? 22 crore has been earmarked for the new greenfield airport coming up in Pakyong, Sikkim.
The decision to increase the service tax to 14 per cent will see flights becoming more expensive.
28/02/15 Business Line
To Read the News in full at Source, Click the Headline
The funds have been provided despite Finance Minister Arun Jaitley announcing in his Budget speech that the Government will look at disinvestment in loss-making units and some strategic disinvestment. The airline’s net loss came down to ?5,389 crore in the last fiscal, compared with ?5,490 crore in financial year 2013, and ?7,559.74 crore in FY12.
Budget 2015-16 also provides ?80 crore to the Airports Authority of India, of which ? 22 crore has been earmarked for the new greenfield airport coming up in Pakyong, Sikkim.
The decision to increase the service tax to 14 per cent will see flights becoming more expensive.
28/02/15 Business Line
