|
The Government has given in principle approval of one time non-plan budgetary assistance of approximately Rs.138.33 crore to Indian Airlines to clear the dues to the creditors. The creditors include: HAL (Rs.114.70 crore), ONGC (Rs.7.88 crore), Oil Companies (Rs.9 crore), Banks (Rs.4.40 crore) and Others (Rs.2.35 crore). The decision was taken by Cabinet Committee on Economic Affairs (CCEA), which met here today.
It has also been decided to write off the dues to the Government amounting to Rs.19.07 crore. These include the amount the Airlines owes to the Ministry of Civil Aviation (loan and interest thereon) amounting to Rs.15.97 crore and the Ministry of Finance towards Inland Air Travel Tax (IATT & interest thereon) Rs. 3.10 crore. Indian Airlines will also be allowed to recover Rs.7.05 crore, being the tax remitted earlier, from the Department of Revenue, Ministry of Finance. This would enable the discharge of liabilities of Vayudoot Ltd. on one time settlement basis.
|
