Statement–Courses of Action (public enterprise losses): Since its launch in 1981, Vayudoot has accumulated losses amounting to Rs 153 crore; which actions logically follow—(I) direct Vayudoot to reduce wasteful expenditure and increase passenger fares, and (II) provide about Rs 300 crore to make the airline economically viable?

Given data

• Persistent, substantial losses: Rs 153 crore.
• Two proposed actions: internal efficiency/price measures vs. large capital infusion.

Concept/Approach (feasibility and immediacy)
When an enterprise shows sustained losses, the immediate logical step is cost control and revenue optimization before considering additional public funds.

Step 1: Assess Action I
Reducing wasteful expenditure and revisiting fares target operational viability; they are within management control and directly relevant.

Step 2: Assess Action II
A large grant (Rs 300 crore) without prior reforms may perpetuate inefficiency; the passage does not justify that infusion as necessary or sufficient.

Step 3: Conclusion
Thus, only Action I logically follows from the stated loss situation.

Verification/Alternative
Typical turnaround sequences prioritize austerity and pricing before recapitalization.

Common pitfalls
Assuming more money is the default solution; ignoring the need to curb waste first.

Final Answer
Only I follows.