Friday, Nov 16, 2018 | Last Update : 04:06 AM IST

CM’s copter gets costlier by Rs 18.16 cr due to falling rupee

THE ASIAN AGE. | UMAKANT DESHPANDE
Published : Sep 12, 2018, 1:26 am IST
Updated : Sep 12, 2018, 1:26 am IST

The state government has now sanctioned the upgraded amount with orders issued on Tuesday.

Maharashra CM Devendra Fadnavis
 Maharashra CM Devendra Fadnavis

Mumbai: The weakening Indian rupee has an unlikely victim – chief minister Devendra Fadnavis. Word is that his helicopter just got costlier by Rs 18.16 crores, thanks to the fall of the rupee against the US dollar.

After several instances where the CM’s helicopter broke down, posing a threat to his life, the state government decided to purchase a new helicopter for him and for VIPs. The state government placed an order with the US-based Sikorsky Aircraft Corporation on May 8 this year. The helicopter carried a price tag of USD 18,158,825 and calculating at the then foreign exchange rate of Rs 70 per dollar, the price worked out to Rs 127.11 crores.

However, with the rupee having fallen to Rs 80 per dollar, the cost of the helicopter has increased by Rs 18.16 crores, reaching a total of Rs 145.27 crores. The state government has now sanctioned the upgraded amount with orders issued on Tuesday.

At a time when the CM and government are already under fire for skyrocketing fuel prices and the falling rupee, the state government will now have to dish out more for Mr Fadnavis’ helicopter.

Tags: devendra fadnavis, rupee against dollar