The wrong way

Funding Air India through NSSF is harmful

Funds with the National Small Savings Fund, or NSSF, will now be used to help the struggling state-owned airline, Air India. According to reports, an estimated Rs 10 billion is to be allocated to the airline, which hit the headlines recently because it failed to pay salaries and also missed payments to various creditors including oil companies, aircraft leasing agencies and mechanical contractors. It already has a debt of over Rs 500 billion and the government’s efforts to privatise it have come to nought, thanks to a badly structured offer. Should the pool of small savings be used to finance