Thursday, 7 July, 2022
HomeIndiaIndian air space to open up more, benefit aviation sector by Rs...

Indian air space to open up more, benefit aviation sector by Rs 1,000 crore

Announcing the fourth tranche of economic stimulus, Finance Minister Nirmala Sitharaman said only 60 per cent of Indian airspace is freely available.

Text Size:

New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced easing of restrictions on utilisation of Indian air space, benefiting civil aviation sector by about Rs 1,000 crore per year.

Announcing the fourth tranche of economic stimulus, she said only 60 per cent of Indian airspace is freely available.

More air space available would reduce travel time and save on fuel, she said.

The finance minister said six more airports will be auctioned for private participation.

Also, an additional investment of Rs 13,000 crore will be made by private players in 12 airports auctioned in first and second rounds.

She also said tax regime for aircraft Maintenance, Repair and Overhaul (MRO) has been rationalised.

Aircraft component repair and airframe maintenance are expected to increase from Rs 800 crore to Rs 2,000 crores in three years, she added.


Also read: Modi govt’s Rs 20 lakh crore package is a missed opportunity for MSME credit reform


 

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

1 COMMENT

Comments are closed.

Most Popular

×