The days of privatization of Air India are approaching. The process stalled due to Covid mahamari will be completed this year.
According to Central Aviation Minister Hardeep Singh Puri, the disinvestment process of Air India has not been completed due to Covid Mahamari. The central government has set a target of raising Rs 1.75 lakh crore from disinvestment during the current financial year.
This effort has suffered a setback this year due to the Coronavirus Mahamari.
After its announcement in the General Budget, Finance Ministry officials had said that the amount achieved in the financial year 2021-22 from disinvestment and privatization is expected to exceed the set target.
The biggest reason behind this confidence of the officials was the IPO of LIC and the disinvestment of Bharat Petroleum. But everything has come to a halt due to Covid.
The government is likely to get one lakh crore rupees from LIC's IPO itself.
Chief Economic Adviser (CEA) Krishnamurthy Subramanian recently said that BPCL disinvestment can generate revenue of Rs 80,000 crore.
The success of these two will be largely determined by the market trend and in view of the current situation of Corona, the process of the market is said to be uncertain.
By the way, the disinvestment target could not be achieved in both the last financial years i.e. year 2020-21 and 2019-20.
According to officials associated with the disinvestment process, most of the target set for disinvestment is set to be completed before September this year.
A total of 17 pilots of Air India, Indigo and Vistaar airlines died due to the pandemic in May this year during the outbreak of the second wave of coronavirus in the country.
10 pilots of Indigo and two pilots of Vistara have died.
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