BackUnion budget 2016-17: Air India gets Rs1,713 crore equity
Air India had asked for `3,901.49 crore from Union budget 2016-17 for the upcoming financial year
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New Delhi: The Union budget for 2016-17 allocated ₹ 1,713 crore to Air India, the state-owned airline which is surviving on a bailout package.
Air India had asked for ₹ 3,901.49 crore for the upcoming financial year as part of a ₹ 30,000-core package granted by the government in 2012 to revive India’s oldest airline.
In the last budget, finance minister Arun Jaitley announced a 2% hike in service tax, making first and business class travel more expensive.
Air India was also granted ₹ 2,500 crore in 2015-16. It finally received ₹ 3,300 crore.
In the last financial year, the total Plan allocation for the civil aviation ministry was earmarked at ₹ 5,360.95 crore and non-Plan expenditure at ₹ 621.50 crore.
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