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Cabinet gives 'in principle' approval for disinvestment of Air India and five of its subsidiaries

| | Jun 29, 2017, at 03:43 am
#Cabinet #CabinetApproval #AirIndia #AirIndiaDisinvestment
New Delhi, June 28 (IBNS): The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to fourth tranche recommendations of NITI Aayog on strategic disinvestment of CPSE (strategic disinvestment of Air India and five of its subsidiaries) based on the recommendations of Core Group of Secretaries on Disinvestment (CGD).

Speaking to media, Union Finance Minister Arun Jaitley said: "In-principle approval for Air India disinvestment has been given."

The ‘In principle’ approval has been given for considering strategic disinvestment of Air India and five of its subsidiaries.

The Committee recommended the constitution of an Air India-specific Alternative Mechanism headed by Minister of Finance including Minister for Civil Aviation and such other Minister(s) to guide the process on strategic disinvestment from time to time.

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