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Budget 2019-20: Aviation Ministry Allocation More Than Halved; Focus On UDAN, North-East Connectivity, Air India Revival
Representative Image. (Taneja Aerospace and Aviation Limited)
The Aviation Ministry saw a 115 per cent dip in its budgetary allocations this year as the outlay for the ministry stood at Rs 4,500 crore for the FY 2019-20 against Rs 9,700 crore during the last year, reports The Economic Times.
The Centre has released Rs 480 crore for the regional connectivity scheme (RCS) UDAN, which is set up for the revival of 50 airports and filling the viability gap in the Northeast. The UDAN scheme was given 441 crore in 2018-19.
Interestingly, the Center has allocated a mere Rs 1 lakh for the revival of Air India which was granted Rs 3,975 crore last year. However, a special purpose vehicle (SPV) has been set up with the aim of financial restructuring of the debt-trapped national carrier.
Air India’s SPV has been earmarked with Rs 2,600 crore this year, double of Rs 1,300 crore allotted last year Air India had a total debt of over Rs 58,300 crore by the end of 2018-19.
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