New Delhi: 69-year-old mistake began through the wrong nationalization measures of an airline belonging to the private sector has been repaired, said Civil Aviation Union Jyotiraditya Scindia on Friday.
Speaking to Ani on the completion of the Indian Air Disinvestment process, Scindia said that the credit of the entire disinvestment process went to Prime Minister Narendra Modi.
“It was only possible because of the dedication, the resolution and will of PM Modi that he made the decision of Indian Air Disinvestment,” he said.
“PM Modi believes that the government should not be there to do business but also create an environment to support the company and business.
This transaction can only be resolved because of its vision and guidance.
I would like to thank everyone in the Ministry of Finance who helped in the whole process , “Minister said.
The government officially handed over airline to Tata Group at a ceremony held in the National Capital on Thursday.
Replying to the Tata Group took control of the air belonging to the Indian government, he said that it was a “win-win situation” for all stakeholders concerned, for the government and for Tata Group.
“This transaction represents a large quantum leap in terms of capabilities in the civil aviation sector.
This represents the peak of a long process that takes almost 20 years to conclude.
It also determines a 69-year-old historical perspective that starts wrong.
Step by nationalization of the actual airline owned by the sector Private, will now return to the private sector, “Scindia said.
Because asked how this Disinvestment decision would be a turning point in the aviation sector, he said, “You will have players with extraordinary abilities for international traffic and domestic one who has a game plan and strategy to ensure the best value for customers.” He also said that Today a carrier operating for the last 14 years and more than Rs 85,000 Crore, has a near-debt burden of around RS 100 thousand crores, resulting in the loss of Rs 20 Crores a day, which is almost Rs 7500 Crore per year – that taxpayer money can be used at fields that require social development, investment.
“This will contribute to the country’s economy and at the same time the airline will provide extraordinary value for its customers,” he added.
Replying questions about where the government saw Indian water in several years in terms of income income, passenger traffic, he replied that it was completely dependent on the private sector.