Both the companies had come under sick units list but the govt is keen to retain its air business
GN Bureau | March 12, 2015
The civil aviation ministry has that there was no question of closing Air India. Minister of Heavy Industries Anant Geete had said in a written reply to the Lok Sabha that Air India and MTNL were among the many state companies "termed as a sick public sector unit". It raised questions as to whether the government was planning to close such sick PSUs.
Minister of State for Civil Aviation Mahesh Sharma has said it was important to have a flag carrier in the country. Sharma said that the government was committed to pumping in the allocated funds in Air India as part of its turnaround and financial restructuring plan, approved by the then UPA dispensation in 2012.
The government, however, has been trimming the budgetary support to Air India, pushing the airline to hasten towards breaking even. The government has already pumped Rs 18,400 crore in equity for AI. As part of the restructuring plan in 2012, the government had agreed to put in Rs 30,000 crore as equity till 2020-21 or for a nine-year period.
Meanwhile, Mahanagar Telephone Nigam (MTNL), now in the list of ‘sick’ public sector units (PSUs), has sent a revival proposal to the department of telecommunications (DoT). It has been making operational losses for three years.
According to reports the proposal of the telecom PSU is under consideration. The PSU plans to raise Rs 500 crore through a short-term loan in the next financial year for expansion. Overall, an amount of Rs 805 crore will go towards capital expenditure — for network upgradation and enhancing data services — in 2015-16.
More than three percent of medicines in India are ‘Not of Standard Quality’ (NSQ) and 0.0245 percent spurious, reveals a survey report on drugs quality by the ministry of health. The survey carried out by National Institute of Biologicals (NIB), Noida found that out of the
Bharat electronics limited (BEL) has launched a new weapon control system — Remote Controlled Weapon Station (RCWS) / Air Defence Weapon Station (ADWS) for 12.7 mm gun of MBT Arjun Mk II battle tank during recently concluded Aero India 2017 in Bengaluru. The new weapon control system
The Sasikala camp is in talks with the O Panneerselvam (OPS) faction and they are trying to win them over, says an AIADMK insider. Negotiation have started between the main AIADMK, which is with Sasikala, and the splinter group that is supporting former chief minister OPS. The party insider
On October 1 last year, Mehtab Alam Ansari, 30, who worked as a tailor in Delhi, had arrived in his village, Chepa Khurd in Barkagaon tehsil of Harazibagh district, to celebrate Eid with his family. That morning, he was nearing Dadi Kalan, a neighbouring village, to meet an acquaintance when he hea
State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23. The projects include development of R-Series fields, incl
The civic election results could well have long term implications in Maharashtra’s politics, with the Bharatiya Janata Party (BJP) doing dramatically well and the Shiv Sena failing to get a simple majority. The Shiv Sena won 84 seats, while the BJP bagged 82 seats. Th