Dip into surplus, will seek more funds: Govt to HAL

The defence ministry has sought additional funds from the finance ministry to meet its expenses in the current financial year and also pay, at least in part, Hindustan Aeronautics Limited (HAL) the dues that the Indian Air Force (IAF) owes it, government officials said on condition of anonymity.

In addition, the defence ministry has advised state-owned HAL to use its reserves, about Rs 12,000 crore, officials in the ministry said on condition of anonymity.

On Wednesday, defence minister Nirmala Sitharaman met HAL chairman and managing director R Madhavan in New Delhi. Read More

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