The Government has allowed the national carrier Air India to raise 7,400 crore rupees by issuing bonds or other means. It has also decided to allow all airlines to directly import jet fuel to enable them save on high incidence of tax.
The decision was taken by a Group of Ministers, GoM, headed by Finance Minister Pranab Mukherjee.
Civil Aviation Minister Ajit Singh told reporters, while the decisions on direct import of aviation turbine fuel would go to the Union Cabinet for a final nod, the Cabinet Committee on Economic Affairs would take up Air India's financial restructuring plan for approval soon.
