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SBI life’s saral maha anand

SBI Life Insurance has launched Saral Maha Anand targeted at investors who can afford a lower...

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Air India, BSNL likely to be provided govt support: PM

New Delhi: Amid the demand from the civil aviation ministry for induction of Rs1,200 crore as fresh equity into Air India, prime minister Manmohan Singh today said the government is actively considering helping the national carrier, reports PTI.

Along with the Air India, state-owned telecom firm Bharat Sanchar Nigam Ltd (BSNL) is also likely to get the government support.

“Enterprises which are facing difficulties, such as Air India and BSNL, are receiving the due attention of the government,” Mr Singh said.

The prime minister was addressing an award function of the Department Public Enterprises and PSUs’ body SCOPE here.

Saddled with the loss of Rs5,551 crore in 2009-10, Air India is seeking induction of fresh equity to improve its balance sheet.

Civil aviation minister Praful Patel met Plan Panel deputy chairman Montek Singh Ahluwalia yesterday in this regard.

A Cabinet note on equity infusion proposal has already been circulated among the key economic ministries including finance.

If the proposal is approved, it would be the second tranche of equity infusion since 2008-09 when Rs800 crore was released to the beleaguered carrier.

BSNL, which used to be a flagship telecom company, lost market share to the private sector operators and posted its first loss at Rs1,822.65 crore in 2009-10.

Talking about the ailing public sector units, the prime minister said that 20 out of 39 companies revived by the Board of Reconstruction of Public Enterprises, were making profits.

“We must ensure that these improvements are sustained in the long run, and these companies do not need to come back to the government for fresh revival packages,” he added.

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