NACIL to get Rs 1200 crore for Financial Restructuring

As part of the process of financial restructuring the National Aviation Company of India Limited (NACIL), an amount of Rs.1200 crore has been provided in the Budget 2010-11 and included in the Outlay of the Ministry of Civil Aviation which totals at Rs.9588.30 crore of which budgetary support is Rs.2,000 crore. This was announced by the Finance Minister, Shri Pranab Mukherjee in his Budget speech in Parliament today.

Airports Authority of India (AAI) has been provided with a budgetary support of Rs.600.50 crore out of which Rs.120.50 crore has been earmarked for development of airports in North-Eastern States. The remaining Rs.480 crore is for the development of airports in other crucial areas like Leh, Ajmer, Agatti, Port Blair, Tirupati, Pudducherry etc. and the satellite based navigation project (GAGAN). A provision of Rs.40 crore has been made for development of helipad at Rohini in the National Capital Region of Delhi and for helicopter training institute/heliport in Pune by Pawan Hans Helicopters Ltd.

Source : Equity Bulls

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