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Sitharaman assures financial help to Hindustan Aeronautics

Defence Minister Nirmala Sitharaman has met the top authorities of Hindustan Aeronautics Ltd and made certain that the defence PSU gets the necessary assistance

New Delhi: Defence Minister Nirmala Sitharaman met the top authorities of Hindustan Aeronautics Ltd (HAL) and made certain that India’s largest state-run defence firm will get the necessary assistance they require to be bailed out of the current financial crisis, official sources said. According to the source, Army Chief General Bipin Rawat, Navy Chief Admiral Sunil Lamba and IAF Chief Air Chief Marshal BS Dhanoa were present at the meeting.

In a response made in Parliament last week, Sitharaman said the government had given HAL orders worth Rs 1 lakh crore
The meeting came in response to an increasing attack by the Opposition Congress party on the government after reports of a severe financial crisis in Hindustan Aeronautics Ltd, which produces a range of aircrafts that include trainer aircrafts, military helicopters, civil helicopters, transport aircrafts and fighter aircrafts.
According to sources, Nirmala Sitharaman was apprised about the ‘financial conditions’ of the public sector undertaking by Managing Director R Madhavan. Hindustan Aeronautics Ltd’s top authorities were informed of the government’s initiatives to help the defence firm overcome the problems
Last month, India’s Supreme Court rejected petitions seeking an investigation of the Modi government’s fighter jet deal with France’s Dassault Aviation, with the Opposition continuing to use the issue put pressure on the government ahead of this year’s General Elections. According to sources, Nirmala Sitharaman was apprised about the ‘financial conditions’ of the public sector undertaking by Managing Director R Madhavan. Hindustan Aeronautics Ltd’s top authorities were informed of the government’s initiatives to help the defence firm overcome the problems. In a response made in Parliament last week, Sitharaman said the government had given HAL orders worth Rs 1 lakh crore.