New Delhi,
\nThe Centre of Indian Trade Unions on Thursday denounced the decision of the government to allow 49 per cent foreign direct investment (FDI) in Air India, and said it was aimed at expediting the privatisation of the national carrier.<\/p>\n
\u201cThe (Narendra) Modi government had already decided to push Air India for wholesale privatisation. And to expedite such privatisation move, the government has now made this announcement of permitting 49 per cent FDI.<\/p>\n
\u201cActually, this is nothing but complete foreignisation of the national carrier a public sector company with its huge asset base and a high-revenue earning international service network,\u201d CITU general secretary Tapan Sen said today.<\/p>\n
He has said that the government is taking the plea of huge loss Air India is being burdened with to justify its move, but the Centre is seeking to hide the fact that the carrier has been pushed to this situation not because of its management\u2019s failure but owing to \u201cimposition of disastrous decisions on the company by successive governments at the Centre\u201d.<\/p>\n
Among the \u201cdisastrous decisions\u201d, Sen listed the \u201chasty merger\u201d of Indian Airlines and Air India and \u201cforcible procurement\u201d of a huge fleet of aircraft from foreign companies through direct purchase at an in-opportune time thereby imposing on the company an \u201cunbearable burden of indebtedness leading to loss\u201d.<\/p>\n
He also highlighted the fact that \u201cdespite such reckless and imprudent misadventure\u201d, Air India has struggled to come back to operating profit for last three years.<\/p>\n
Regarding the decision of the government of allowing 100 per cent FDI in single-brand retail trade, the CITUthe trade union of the condemned the move and said that the decision would increase hardship of traditional retail market.<\/p>\n
\u201cAllowing 100 per cent FDI in single-brand retail trade will further increase the hardship of traditional retail trade sector which is the second biggest livelihood giver after agriculture and expedite the ruin of the traditional retail trade sector,\u201d Sen said.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, The Centre of Indian Trade Unions on Thursday denounced the decision of the government to allow 49 per cent foreign direct investment (FDI) in Air India, and said it was aimed at expediting the privatisation of the national carrier. \u201cThe (Narendra) Modi government had already decided to push Air India for wholesale privatisation. […]<\/p>\n","protected":false},"author":1,"featured_media":18423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-18422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=18422"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18422\/revisions"}],"predecessor-version":[{"id":18424,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/18422\/revisions\/18424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/18423"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=18422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=18422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=18422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}