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The group of ministers has been directed to bring a proposal for providing Rs 1,200 crore to Air India.
The proposed induction of funds will have to be cleared by the Cabinet Committee on Economic Affairs before the money is released to the airline.
This is part of a more than Rs 2,000-crore additional fund support that the Government plans to provide to Air India.
Briefing newspersons after the meeting, the Civil Aviation Minister, Mr Vyalar Ravi, said that a committee headed by the Cabinet Secretary would be set up to settle Air India's pending bill for VVIP and evacuation flight. The outstanding was Rs 973 crore. A committee will also be set up to examine the turnaround and financial restructuring plan. It will submit its reports within the next six weeks.
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