Air India Current Affairs - 2020
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Government of India misses its disinvestment target as the plan to sell Bharat Petroleum Corporation Limited (BPCL), Air India and Container Corporation of India has not been succeeded.
The Government had planned to sell 53.3% of BPCL, 31% of Concorp as per latest market prices. The Government had set the Disinvestment target of Rs 1.05 trillion for the year 2019-20. However, it was only able to extract Rs 17,364 crores. This has increased burden on the economy of the country as the fiscal deficit of the Government has already touched 115% of the budget estimated for the year 2019-20 as far as November 30. The deficit will increase further as there are another 4 months (Dec-Mar) to go before the financial year ends. The data was released by the Controller General of Accounts.
The missing of disinvestment target has impaired its ability to meet its Fiscal Deficit target of 3.3% of GDP. The fiscal deficit is arising in spite of RBI transferring Rs 1.76 lakh crore rupees. It was widely criticized as windfall money of the government.
What is Windfall money?
Windfall money is the term used for unexpected money good fortune. The RBI transferred the windfall to the GoI on recommendation of Jalan Committee.
Among all the disinvestment targets, Air India is the least performing and at huge losses. In order to solve the problem, recently it was announced that Air India will stop issuing tickets to government agencies that owe more than Rs 10 lakh due. This included defence accounts, CBI, BSF, Enforcement Directors, customs commissioners, etc.
Tags: Air India • Bimal Jalan Committee • BPCL • Disinvestments • Fiscal Deficit
Alliance Air has flagged-off its first flight operations between Guwahati in Assam to Dimapur (largest city of Nagaland) and Imphal (capital of Manipur), under the Regional Connectivity Scheme – Ude Desh Ka Aam Nagrik (RCS-UDAN). This direct 50 minute-long flights connecting Guwahati-Dimapur-Imphal is under a Regional Connectivity Scheme (RCS), part of government’s Ude Desh ka Aam Nagrik (UDAN) programme.
The commencement of flight operations in region marks another step by the Union Ministry of Civil Aviation to establish a strong air network in North East India. The Alliance Air, a wholly-owned subsidiary of Air India, currently connects 57 destinations and with addition of Dimapur and Imphal, there will be 59 stations in its ambit.
A 70-seater aircraft will be deployed on these routes by the airline with the price of a one-way ticket from Dimapur to Imphal or vice versa costing Rs 1,811. The flights between Imphal and Dimapur route will operate thrice-weekly- on every Wednesdays, Fridays and Sundays.
Itinerary: Flight 9I 741 will depart from Guwahati at 8 am and arrive in Dimapur at 8:55 am, then the plane will depart from Dimapur at 9:20 am and arrive in Imphal at 10:10 am. While, Flight 9I 742 will depart from Imphal at 10:35 am, arrive in Dimapur at 11:25 am and the plane will depart from Dimapur at 11:50 am and arrive in Guwahati at 12:45 pm.
Need: Flight services from Dimapur to capital of Manipur, Imphal was a long pending demand from the region. This flight marks the inception of first-ever alternative option of connectivity to Imphal as until now, the Imphal is yet to be connected with India’s railway network. Therefore, till now, for a mere distance of 200 km, people had to travel for 7 hours by bus from Dimapur to reach Imphal, but now with establishment of the air route, people can now travel to Imphal in 50 minutes by air from Dimapur and can also access air connectivity to other parts of the country as well from Guwahati.
About UDAN (Ude Desh ka Aam Naagrik)
UDAN-RCS, launched in April 2017, is a regional airport development and Regional Connectivity Scheme (RCS) of Union Government, which aims to enable air operations on unserved routes, connecting regional areas, to promote balanced regional growth and to make flying affordable and widespread for masses. It also seeks boost inclusive national economic development, job growth and air transport infrastructure development of all regions and states of India.