Weekly media update 24 01_2022

670
(This document comprises news clips from various media in which Balmer Lawrie is mentioned, news
related to GOI and PSEs, and news from the verticals that we do business in. This will be uploaded on
intranet and website every Monday.)
Business resumption gains reversed
amid third wave
The recent rise in Covid-19 infections has led to
the reversal of some business resumption gains
since the second wave, Nomura said in its weekly
tracker. Pointing to stable railway freight
numbers, it said there was a divergence between
“contact-intensive services and the goods
economy". The Nomura India Business
Resumption Index (NIBRI) fell to 102. 9 for the
week ended January 16 from 107. 9 in the
previous week. The index is now only about 3
percentage points (pp) above pre-pandemic
levels, having fallen 17. 4pp since the third wave.
“Some adverse impact of the third wave is visible,”
it said. The NIBRI comprises Google mobility
indices, the Apple driving index, power demand
and labour force participation rate. “New daily
cases have risen to 250-270k in recent days, up
from 170K last week, with death rates largely
stable. Global experience suggests higher
caseloads but a shorter duration third wave
(trough-peak of around a month),” it added. In
January so far, air traffic is down 25% from about
2,800 daily departures.
The Economic Times - 18.01.2022
https://epaper.timesgroup.com/article-
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SBI business activity index falls to
lowest since Nov 15
The SBI Business Activity Index declined to 101
as on January17 from 109 in the week ended
January10, State Bank of India said on Tuesday.
The latest reading, even as the country is in the
midst of the third wave of the pandemic, is the
lowest since November15. Weekly arrival of
vegetables, RTO revenue collection and Apple
Mobility index declined significantly, as per an
SBI report. “A welcome trend is vacant
(hospital) beds share, which has seen a
significant increase at all major centres,
compared to the second wave,” SBI said in its
report, titled “Covid-19: Third Wave, the
beginning of the end?” While new Covid-19
cases in Mumbai seem to be stabilising, in other
places like Bengaluru and Pune, cases are
increasing during the current third wave, with
higher daily numbers. “If other districts also
implement strict measures and control the
spread, then the national peak may come within
two-three weeks after the Mumbai peak,” the
bank said.
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Economic recovery is yet to attain
durability, says ICRA
Rating agency Icra said while there was some
evidence of the economic recovery becoming
broad-based in the third quarter of fiscal 2022, it
was yet to attain the durability being sought by
the Monetary Policy Committee as a precursor to
policy transmission. The agency expects real GDP
to expand 6-6.5% year-on-year in the third
quarter (8.4% in Q2 FY2022). It also sees the RBI
maintaining the status quo in the upcoming
monetary policy review to be held in February.
Chief Economist Aditi Nayar said economic activity
rebounded in December, even as many sectors
continued to trail the performance recorded in
October. Encouragingly, the quarterly data
suggests a modest broad-basing of the recovery
India Ratings pegs FY23 GDP growth
at 7.6%
India Ratings and Research on Thursday said
the country’s economy is likely to grow by 7.6%
in 2022-23. The agency said the economy will
show a meaningful expansion, after a gap of two
years, as the real GDP in 2022-23 is expected
to be 9.1% higher than that in 2019-20 (pre-
COVID level). “However, the size of the Indian
economy in FY23 will be 10.2% lower than the
FY23 GDP trend value,” India Ratings said. “A
continued weakness in private consumption and
investment demand is estimated to contribute
43.4% and 21%, respectively, to this shortfall,”
it added. The agency said if the impact of
Omicron on fourth quarter growth turns out to
be greater than its estimate, then there could
WEEKLY MEDIA UPDATE
Issue 537
24 January, 2022
Monday

in Q3 FY2022, relative to Q2, when compared to
respective pre-COVID-19 volumes. “However, the
onset of the third wave of COVID-19 has triggered
State-wise restrictions, which have expectedly
interrupted the momentum in the ongoing month,
reiterating that the recovery is yet to attain
durability,” Ms. Nayar said in a report released on
Wednesday.
The Hindu - 20.01.2022
https://www.thehindu.com/business/Economy/ec
onomic-recovery-is-yet-to-attain-durability-says-
icra/article38294205.ece
be some upside to FY23 growth originating from
the base effect. Earlier this month, the NSO in
its first advance estimate said gross domestic
product (GDP) is expected to grow at 9.2% in
2021-22. The economy had contracted 7.3% in
FY21. India Ratings’ Principal Economist and
Director Public Finance Sunil Kumar Sinha said
the government and RBI are expected to
support the growth recovery.
The Hindu - 21.01.2022
https://www.thehindu.com/business/Economy/
india-ratings-pegs-fy23-gdp-growth-at-
76/article38299738.ece
Most Indian CEOs bet on a stronger
economy this year
Indian CEOs are significantly optimistic about the
prospects of a stronger economy in the coming
year despite a variety of headwinds, most notably
related to the ongoing Covid-19 pandemic, a PwC
survey has found. According to the survey, 99%
of CEOs in India believe the country’s economic
growth will improve over the next 12 months, with
94% being optimistic about global economic
growth improving over the next 12 months, as
against 77% of global CEOs. The India CEO survey
was part of PwC’s 25th Annual Global CEO Survey,
which polled 4,446 CEOs in 89 countries and
territories between October and November 2021.
While, for the most part, CEOs globally are at least
as optimistic as they were last year about the
prospects for economic growth in 2022, the
optimism of Indian CEOs — up from 88% last year
— stands out at 94%. “While Omicron has cast a
shadow and CEOs are focused on the health and
safety of their employees at the moment, CEO
confidence and optimism over the past year is
testimony to the resilience of Indian companies,”
said Sanjeev Krishan, chairman at PwC in India.
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Q3 results trend: India Inc seeing
steady YoY growth
Earnings so far in the third quarter reflect a
sustained growth momentum in corporate
India’s performance, with both revenue and net
profit continuing to expand in double digits in
comparison with the year ago period.
Eikonalized common sample of 254 companies
that have already announced their earnings.
The analysis showed that revenue climbed 28.
4% for the companies under review, while net
profit g rew17%. To be sure, top line growth
had an advantage of a low base in the year-ago
quarter when revenue had shrunk 1. 2%. By
contrast, net profit growth masks the fact that
profit had more than doubled — or expanded
142% — last year. Operating margins of these
companies narrowed 250 basis points year-on-
year to 21. 6%. One basis point is 0. 01%. The
margin performance is on expected lines since
India Inc was in a cost-optimisation mode in the
year-ago quarter to protect profitability amid
weak top line growth. Furthermore, input costs
have since risen due to higher commodity
prices. Raw material costs of this set of
companies, relative to revenue, increased to 24.
3% in the December 2021 quarter from 19. 9%
in the year-ago quarter.
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Eco survey may project 9% growth rate
for next fiscal
The finance ministry is expected to come out with
a single volume Economic Survey for 2021-22
projecting a growth of around 9 per cent for the
next financial year. The Survey, which is tabled in
Parliament by the Finance Minister ahead of the
Union Budget, is being prepared by Principal
Economic Advisor and other officials in absence of
the Chief Economic Advisor (CEA), who
traditionally is the main architect of the document.
Even the first Economic Survey of the Modi
Budget 2022: Finance ministry asks
departments to limit spends within
new targets
The finance ministry has asked other
government departments at the Centre to
contain the spending within the agreed revised
estimates for expenditure, for which
Parliamentary approval will be sought, while
making requests for supplementary demand for
grants. Ahead of the Budget, the expenditure
department undertakes an assessment of the
actual spending by various departments and

government presented by the then Finance
Minister Arun Jaitley in July 2014 was prepared by
senior Economic Advisor Ila Patnaik. At that time
the post of CEA was vacant following the
appointment of Raghuram Rajan as Governor of
Reserve Bank of India. Later, Arvind Subramanian
moved in as CEA in October 2014. K V
Subramanian completed his three-year term as
CEA on December 6 last year. The government has
already initiated the process for appointing CEA
who is a Secretary rank official attached to the
finance ministry. The economy, as per the
advance estimates of the National Statistical Office
(NSO), is expected to record a growth of 9. 2%
during the current fiscal, which is a tad lower than
9. 5 per cent projected by the Reserve Bank.
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revises the estimates for the year when the
Budget is tabled on February 1. The number is,
however, shared with the department
concerned so that it can plan its spending for
the third and the fourth quarters. In a
communication to government departments,
the finance ministry said on Tuesday that while
processing the request for additional funds,
savings must be identified to weed out
infructuous or inflated demands so that money
does not have to be surrendered. “The proposal
for supplementary demand for grants may be
projected through an objective assessment of
additional requirement for funds,” the finance
ministry said.
The Times of India - 20.01.2022
https://timesofindia.indiatimes.com/business/i
ndia-business/finance-ministry-to-depts-limit-
spends-within-new-
targets/articleshow/89010409.cms
Centre may stick to fiscal goals despite
higher capex plan
The Centre is likely to continue with its fiscal
consolidation plans in the 2022-23 Budget, despite
lower than estimated receipts from privatisation of
state-run companies, and largely stick to its deficit
targets. Robust revenues, both on the indirect and
direct taxes front, are expected to provide enough
headroom to the government to balance its fiscal
goals and spending needs for the year ahead.
While there have been calls for relaxing the fiscal
target to boost spending and help the economic
recovery, it is unlikely that the government will
throw fiscal caution to the wind, sources indicated
to TOI . The Centre has been prudent in its
spending even in the face of first wave of the
pandemic and did not succumb to growing
pressure from economists and the corporate
sector. Sources said the need for additional
spending on healthcare, rural jobs and efforts to
boost capital expenditure, especially in the
infrastructure sector, would be maintained, given
the need to bolster the economic recovery. Apart
from the corporate sector, many in the
government also believe that capital expenditure
will spur demand for sectors such as steel and
cement and will result in higher investment in the
coming quarters as excess capacity is used.
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Govt receives over ₹6,600 cr dividend
from a dozen CPSEs
The government has received about ₹6,600
crore as dividend tranches from a dozen Central
Public Sector Enterprises (CPSEs), including
GAIL, NMDC and Power Grid. “The government
has received about ₹972 crore and ₹2,506 crore
from Nuclear Power Corporation of India Limited
(NPCIL) and Power Grid Corporation of India
Limited as Dividend tranches," Department of
Investment and Public Asset Management
(DIPAM) Secretary Tuhin Kanta Pandey said in
a tweet on Monday. Besides, Hindustan
Aeronautics, Bharat Electronics, HLL Lifecare
Ltd, FAGMIL and NSIC have given Rs 351 crore,
Rs 149 crore, Rs 19 crore, Rs12 crore and Rs 31
crore as dividend tranches, respectively.
“Government has received about ₹1,605 crore
and ₹913 crore from NMDC and GAIL
respectively as Dividend tranches," he said in
another tweet. About ₹ 42 crore, ₹ 26 crore and
₹ 25 crore were received from Central
Warehousing Corporation, National Highways
Infrastructure Development Corporation and
WAPCOS, he said. In aggregate, the
government received ₹6,651crore as dividend
on Monday from these 12 companies. With this,
total proceeds from dividends from public sector
enterprises reached close to ₹ 40,000 crore for
FY22 so far.
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Modi most popular global leader: Survey
Prime Minister Narendra Modi remained the most
popular global leader with an approval rating of
71%, according to a survey undertaken by US
consulting firm Morning Consult. He was followed
by Mexico's Andrés Manuel López Obrador (66%),
Italy's Mario Draghi (60%) and Japan's Fumio
Kishida (48% ), according to global consulting firm
Morning Consult. Modi had the lowest disapproval
ratings among all the leaders tracked at 21%. The
agency currently tracks the approval ratings of
government leaders and country trajectories in
Australia, Brazil, Canada, France, Germany, India,
Italy, Japan, Mexico, South Korea, Spain, the
United Kingdom and the United States. The latest
approval ratings are based on data collected from
January 13-19, 2022. US President Joe Biden had
an approval rating of 43% while UK PM Boris
Johnson, who is embroiled in the “party gate”
controversy, had the lowest approval rating of
26%. French President Emmanuel Macron had a
disapproval rating of 59%, South Korean President
Moon Jaein 54%, Australian Prime Minister Scott
Morrison 52% and Canadian PM Justin Trudeau
51%.
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EPFO Added 13.95 Lakh Net
Subscribers In November 2021
The provisional payroll data of EPFO released on
20th January 2022 highlights that EPFO has
added 13.95 lakh net subscribers during the
month of November 2021, showing an increase
of around 2.85 lakh net additions over the
previous month of October, 2021 with a growth
rate of 25.65%. Year-on-year comparison of
payroll data also shows an increase of around
3.84 lakh in net payroll additions in November,
2021 as compared to 10.11 lakh net subscribers
added during the previous year in November,
2020. Of the total 13.95 lakh net subscribers
added during the month, 8.28 lakh new
members have come under the social security
cover of EPFO for the first time. Approximately
5.67 lakh net subscribers exited but rejoined
EPFO by changing jobs within the
establishments covered under the purview of
EPF & MP Act, 1952.
Business Standard - 21.01.2022
https://www.business-
standard.com/article/news-cm/epfo-added-13-
95-lakh-net-subscribers-in-november-2021-
122012100818_1.html#:~:text=The%20provi
sional%20payroll%20data%20of,a%20growth
%20rate%20of%2025.65%25
Petrol, diesel sales fall in January as
Omicron spreads
India's petrol and diesel sales fell in the first
fortnight in January as the third wave of pandemic
starts to bite the economy as reflected in dip in
workplace mobility and aircraft traffic. Sale of
diesel, which accounts for 40 per cent of India's
overall fuel consumption and mirrors industrial
activity, fell 14.1 per cent to 2.47 million tonne
during January 1-15 when compared with the
same period and 4.99 per cent from a year ago,
preliminary data from state fuel retailers showed.
Diesel sales were down nearly 8 per cent over the
January 2020 period. The rapid spread of Omicron
variant of coronavirus has led to the imposition of
local restrictions in several parts of the country,
hurting truck movement. Petrol sales during Jan
1-15 at 9,64,380 tonne were 13.81 per cent lower
than the first fortnight of December and 2.82 per
cent than a year-ago period, the data showed. It
however was 5.66 per cent higher than January
2020 sales and continued to stay above pre-Covid-
19 levels as people continued to prefer using
personal vehicles over public transport for safety
reasons.
https://timesofindia.indiatimes.com/business/indi
a-business/petrol-diesel-sales-fall-in-january-as-
omicron-spreads/articleshow/88960762.cms
India’s oil production continues to
decline
India’s production of crude oil, which is refined
to produce petrol and diesel, continued to
decline in December, with lower output from the
State-owned ONGC leading to an almost 2%
drop, official data showed on Wednesday. Oil
production in December was 2.51 million
tonnes, down from 2.55 million tonnes a year
earlier and a target of 2.6 million tonnes. The
output was, however, higher than 2.43 million
tonnes produced in November 2021. ONGC,
India’s biggest producer, produced 3% less
crude oil at 1.65 million tonnes in December due
to delays in mobilising equipment at western
offshore fields. Oil India Ltd. (OIL) produced
5.4% more crude oil at 2,54,360 tonnes. India
is 85% reliant on imports to meet its crude oil
needs as domestic output is insufficient to meet
the demand. Natural gas production, however,
rose by almost a fifth to 2.89 billion cubic metre
(bcm) in December 2021.
The Hindu - 20.01.2022
https://www.thehindu.com/business/Economy/
indias-oil-production-continues-to-
decline/article38294183.ece

OPEC's share of Indian oil imports falls
to lowest in at least 15 years
OPEC's share of Indian oil imports fell in 2021 to
the lowest in more than a decade despite a 4%
rebound in annual crude purchases by the world's
third-biggest oil importer, data obtained from
industry sources showed. Members of the
Organization of the Petroleum Exporting Countries
(OPEC), mainly from the Middle East and Africa,
saw their share of the pie in India shrinking to 70%
in 2021, from a peak of 87% in 2008, a Reuters
analysis of the data from 2007 to 2021 showed.
India's crude imports rebounded 3.9% to 4.2
million barrels per day (bpd) in 2021, the data
showed, but remained below pre-pandemic levels
in 2019. Imports are expected to rise further this
year as fuel demand is recovering, with the
government resisting lockdowns despite surging
COVID-19 cases while refiners' margins are
expected to stay strong. Last year, refiners had to
cut crude processing for a few months as
lockdowns hit gasoil and jet fuel consumption. In
December, imports surged to an 11-month high of
about 4.7 million bpd, about 5% more than in
November, but still 7.8% lower than a year earlier,
the data showed.
Mint - 21.01.2022
https://www.livemint.com/news/world/opecs-
share-of-indian-oil-imports-falls-to-lowest-in-at-
least-15-years-11642731617010.html
TRENDS: IEA warns of potential
volatile year for oil market
The oil market could face another volatile year
but demand is surging higher as the sector has
weathered the impact of the Omicron
coronavirus variant, the International Energy
Agency said Wednesday. The IEA revised its
demand estimates, saying it increased by 5.5
million barrels per day in 2021 and would grow
by 3.3 million bpd in 2022 -- 200,000 bpd
higher than its previous estimate. This will take
total demand above pre-Covid levels in 2022, at
99.7 million barrels per day. While Covid cases
have soared, "measures taken by governments
to contain the virus are less severe than during
earlier waves and their impact on economic
activity and oil demand remain relatively
subdued", the IEA said. But the agency, which
advises governments on energy policy, said
supply growth expectations were being
tempered by "disruptions and production
shortfalls" by some members of the OPEC+
group of top oil producers.
https://energy.economictimes.indiatimes.com/
news/oil-and-gas/trends-iea-warns-of-
potential-volatile-year-for-oil-
market/89008461
Morgan Stanley expects oil at $100 a
barrel in second half of year
Morgan Stanley expects Brent crude oil prices to
advance to $100 a barrel in the second half of this
year, with the market heading for a simultaneous
"tripledeficit" of inventories, spare capacity and
investment. "The key oil products markets
(gasoline, jet fuel and gasoil/diesel) all show
strong crack spreads, steep backwardation and
inventories that have fallen to low levels. None of
this signals weakness," it said in a note. The bank
raised its price forecasts for Brent crude to $100 a
barrel for the las two quarters of the year, up from
the $90 and $87.50 previously estimated for the
third and fourth quarters respectively. Brent crude
futures were trading at about $88 a barrel on
Friday, while U.S. West Texas Intermediate (WTI)
crude was at $85. Both benchmarks are on for a
fifth consecutive weekly gain. Morgan Stanley's
projection chimes with those of other investments
banks, including Goldman Sachs, in predicting oil
prices could hit $100 per barrel this year.
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/morgan-stanley-expects-oil-at-
100-a-barrel-in-second-half-of-year/89057946
Domestic natural gas output up 20% in
December
Domestic natural gas production increased
19.5% to 2,896.7 million standard cubic metre
(mscm) in December on a year-on-year (Y-o-Y)
basis, mainly due to higher production from
Reliance Industries (RIL) and BP’s ultra-deep-
water field in the KG-D6 Block of the Krishna
Godavari basin on the east coast. The output
had fallen 8.1% Y-o-Y to 28,670.6 mscm in
FY21 but has subsequently increased 21.5% Y-
o-Y to 25,673.9 mscm in the April-December
period of the ongoing fiscal. The production also
commenced on August 31 from state-run Oil
and Natural Gas Corporation’s (ONGC) U1B
deep-water gas well located in KG-DWN 98/2
block, which has an estimated peak production
of 1.2 million standard cubic meter per day
(mscmd). The rise in domestic production
coincided with a substantial jump in
international liquefied natural gas (LNG) prices,
resulting in import dependency of natural gas
reducing from 55.3% in April-November, 2020
to 47.1% in the corresponding period in 2021.
The Financial Express - 20.01.2022

https://www.financialexpress.com/market/com
modities/domestic-natural-gas-output-up-20-
in-december/2411064/
IEX divests 4.93pc equity stake in gas
exchange platform to Indian Oil
Indian Energy Exchange (IEX) on Wednesday
announced divestment of 4.93 per cent of its
equity stake in Indian Gas Exchange (IGX) to oil
major Indian Oil Corporation. Energy exchange
IEX and National Stock Exchange (NSE) are
promoters of IGX, a gas exchange which has been
set up to promote gas trading in the country. GAIL
(India) Ltd, ONGC Ltd, Torrent Gas Pvt Ltd and
Adani Total Gas Ltd are strategic investors in the
natural gas trading platform. "Indian Energy
Exchange (IEX), India's premiere Energy
Exchange and Indian Oil Corporation (IndianOil),
India's largest oil refining and fuel marketing firm,
are pleased to announce IndianOil's strategic
equity stake of 4.93 per cent in Indian Gas
Exchange Ltd," an IEX statement said. IEX has
divested a 4.93 per cent equity stake to IndianOil,
it added. S N Goel, Chairman and Managing
Director, IEX and Director, IGX said, "We are
delighted to welcome IndianOil as a strategic
partner in IGX. IndianOil with their huge expertise
in the gas sector will help add new products for
Indian markets, Goel added.
https://energy.economictimes.indiatimes.com/ne
ws/oil-and-gas/iex-divests-4-93pc-equity-stake-
in-gas-exchange-platform-to-indian-oil/89015221
Vedanta to create $10 billion fund to
bid for BPCL stake, other assets:
Chairman
Mining firm Vedanta Resources Ltd plans to
create a $10 billion fund to bid for assets
including the Indian government’s stake in
Bharat Petroleum Corp Ltd (BPCL), its chairman
told Reuters on Thursday. The Indian
government is seeking to privatise state-run
refiner BPCL by selling its near 53% stake in the
firm, worth just over $6 billion, to private
entities. “We are in the process of creating a
fund of $10 billion,” Anil Agarwal said in an
interview in Dubai. “It will not only look at
(BPCL) but there are other companies being
privatised. It will look at the potential of those
companies also.” The fund will be made up of
its own resources and outside investment,
Agarwal said, adding that it may also finance
the BPCL acquisition through debt. “We will
work out a structure, we are doing the due
diligence,” he said. “As soon as the date comes,
we will firm up and work out on how we take
the money and go about it.” “There is no large
fund which does not want to associate with us
in general. Money will never be a problem,” he
added.
The Financial Express - 20.01.2022
https://www.financialexpress.com/industry/ve
danta-to-create-10-billion-fund-to-bid-for-
bpcl-stake-other-assets-chairman/2412048/
Travel platforms hopeful bookings will
recover soon
Travel platforms expect a swift rebound in
bookings, as seen in the immediate aftermath of
the second wave, although cancellations have
lately mounted after mobility and business-hour
curbs were imposed across the country to hold
down Omicron infections. “Our consumer insights
continue to reflect strong pent-up demand and
hence a wait-and-watch approach, with plans
being deferred rather than cancelled. In the
current environment, our immediate bookings are
predominantly on account of urgent personal and
business travel,” said Rajeev Kale, president and
country head, holidays, MICE and visa at Thomas
Cook (India). “Additionally, the extended work
from home announcements are resulting in
working professionals travelling back home from
the metros to tier 2-3 cities". Kale said that a
limited number of queries have started pouring in
for the summer vacation starting April. Similarly,
weekend/extended weekend options for closer to
1.12 cr domestic air travellers in
December; 6.7% higher than
November, says DGCA
Around 1.12 crore domestic passengers
travelled by air in December, approximately 6.7
per cent higher than the 1.05 crore who
travelled in November, the country's aviation
regulator said on Wednesday. Overall, 8.38
crore people travelled on domestic flights in
2021 as compared to 6.3 crore in 2020, showing
a jump of 33 per cent, the Directorate General
of Civil Aviation (DGCA) stated in its monthly
statement. IndiGo — India's largest carrier —
carried 61.41 lakh passengers in December, a
54.8 per cent share of the domestic market, it
mentioned. Go First (previously known as
GoAir) flew 11.93 lakh passengers and SpiceJet
flew 11.51 lakh passengers in December 2021,
according to the data shared by DGCA. Air
India, Vistara, AirAsia India and Alliance Air
carried 9.89 lakh, 8.61 lakh, 7.01 lakh, 1.25
lakh passengers, respectively, in December

home destinations, like spa wellness staycations,
drive cations and villa stays, are witnessing some
interest.
004/18_01_2022_004_025_etkc.json
2021, the data showed. The occupancy rate or
load factor for SpiceJet was 86 per cent in
December, the DGCA noted. The occupancy
rates for IndiGo, Vistara, Go First, Air India and
AirAsia India were 80.2 per cent, 78.1 per cent,
79 per cent, 78.2 per cent and 74.2 per cent,
respectively, in December 2021, it added.
Millennium Post - 20.01.2022
http://www.millenniumpost.in/business/112-
cr-domestic-air-travelers-in-december-67-
higher-than-november-says-dgca-465617
Govt names ‘last’ CMD of Air India
Senior IAS officer Vikram Dev Dutt has been appointed chairman and MD of Air India days before the
Tata Group takes over the airline. Union aviation secretary Rajiv Bansal, who was appointed AI CMD
in August 2017, was holding additional charge of the airline after being elevated last September. Dutt
is set to be the last government-appointed AI CMD before the airline goes back to the Tatas.
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Weekly media update 24 01_2022

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Weekly media update 24 01_2022