The government has decided to almost completely exit the airline saying the financial support being provided to the airline could be put to better use

The two functionaries had earlier confirmed through a text message and phone call about the formation of the ministerial panel but later an official spokesperson said the information was incorrect.

The GoM will suggest various development, economic and social steps to be taken for the two UTs which will come into existence on October 31, sources said.

The other members of the reconstituted GoM are-- Finance Minister Nirmala Sitharaman, HRD Minister Ramesh Pokhriyal 'Nishank' and Women and Child Development Minister Smriti Irani.