CPI (M) to raise Air India disinvestment issue in Parliament

Communist Party of India (Marxist) general secretary Sitaram Yechury on Thursday said the party would raise the issue of Air India's privatisation in the upcoming session the Parliament.

Yechury told ANI that "we will raise the issue in Parliament. We'll ask that why didn't they consider other ways than the privatization."

The monsoon session of Parliament will commence on July 17, the day voting for the presidential election will take place.

Yesterday, the Union Cabinet gave an in-principle approval to the disinvestment of the Air India.

Finance Minister Arun Jatiley said a group under him has been formed to decide upon the modalities of Air India's disimvestment.

"There was a proposal of civil aviation ministry for the disinvestment of Air India, this has been given theoretical approval or an in-principal approval," said Jaitley.

He added: "In its proposal, the civil aviation ministry had urged to constitute a group under the finance minister which can decide on the concerning modalities of the same, the cabinet has accepted that. How much of it will be disinvested? Or the issues related to its debts, hotels will be later on decided by the constituted group."

This step comes in the view of Ministry of civil aviation's efforts to revive Air India, which is surviving on Rs 30,000 crore bailout package extended by the previous UPA regime.

Air India constitutes of the largest fleet of 140 planes in India.