Insta
Budget 2019-20: Aviation Ministry Allocation More Than Halved; Focus On UDAN, North-East Connectivity, Air India Revival
Swarajya Staff
Jul 07, 2019, 10:41 AM | Updated 10:41 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.