Central cabinet gives nod for disinvestment in Air India
The central cabinet gave the green signal for disinvestment in debt-trapped Air India. Finance Minister Arun Jaitley said Air India is under a debt of Rs 52,000 crore and was also bailed out through government funding of a whopping Rs 30,000 crore in 2012. Jaitley stated that Air India will provide quality services by selling shares to private firms. The Finance Minister said that the central cabinet also agreed to set up a committee to speed up disinvestment process in Air India.