A large chunk of spending: Rs 51,971 cr just to settle Air India debt before sale
Having closed the high-profile disinvestment process of Air India, the government also decided to retire the airline’s debt, which it transferred to a special purpose vehicle. In the Union Budget 2022-23, the government allocated an additional Rs 51,971 crore towards the settlement of outstanding guaranteed liabilities of Air India and its other “sundry commitments”.
This amount has been accounted in the Revised Estimates of the total expenditure in 2021-22.
“As against a total expenditure of Rs 34.83 lakh crore projected in the Budget Estimates 2021-22, the Revised Estimate is Rs 37.70 lakh crore. The Revised Estimate of capital expenditure is Rs 6.03 lakh crore.
