Jayant Sinha: Opposition right now is searching for issues: Jayant Sinha, Aviation

In an interview with ET Now, Jayant Sinha, MoS, Aviation, speaks on a number of subjects including the fact that markets are at an all time high. Edited excerpts:

Yesterday the president spoke about how the ordinance route should not be used in many of the ways because it leads to vitiation of the atmosphere between the ruling benches and the opposition. Do you concur with that view and do you also believe that in a way opposition is also responsible because they have not let the government function in the parliament properly?

Jayant Sinha: It is clearly a complicated matter. Of course the honourable president is right to say that the ordinance route to be used rarely and carefully but unfortunately under certain political circumstances, there is no other alternative than to go to the ordinance route and you have to take into account both constitutional propriety, which is what the honourable president has indicated but also what the needs of the circumstances are, the needs of the country are and so a balanced has to be struck on both counts.

Do you also believe the opposition raised a lot of these issues just for the sake of standing out and not really providing any constructive argument so to say?

Jayant Sinha: I think the opposition right now in our country is searching for issues and finding themselves very short of any legitimate or any strong issues because the government is doing such a fabulous job, such a wonderful job and therefore they are reaching for straws such as one that you have raised.

Today also saw reports coming in because you are also handling a very important issue of the Air India divestment. There are reports that Warburg Pincus and of course very other PE players have also expressed interest. Could you help us shed some light on where things are, how will the issue of debt be handled for Air India?

Jayant Sinha: The process is moving forward smoothly. As you know, there was a meeting of the group of the ministers on Friday. There will be continued meetings as we move forward, as we tackle all the complex issues associated with this process. Along the way as you have seen with IndiGo, I am sure multiple bidders will express their interest which is a great process and of course once we appoint transaction advisors, then all inputs from various interested parties will be taken on board in a very structured and transparent and thorough manner. So let the process unfold and we will see how things develop.

Given the fact that a lot of players are saying that they are interested only in the foreign routes of Air India. How will that really pan out, is the government looking at only specific things while they look to sell out Air India?

Jayant Sinha: Those are the decisions that additional mechanism which is being constituted will have to go into and of course as I said earlier as well, we will have to see how the process unfolds.

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