India to auction 6 more airports, ease air space: Sitharaman
On fourth day of her press interaction, Finance Minister Nirmala Sitharaman announced the fourth tranche of Rs 20 lakh crore package declared by Prime Minister Narendra Modi a few days ago. Among some big measures announced by the finance minister, was the decision to auction 6 more airports view a view to develop them on PPP (Public-Private Partnership) basis.
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.
India to auction 6 more airports, ease air space: Sitharaman
Aircraft component repair and airframe maintenance are expected to increase from Rs 800 crore to Rs 2,000 crores in three years, she added.
Sitharaman announced easing of restrictions on utilisation of Indian air space as well. She said it will benefitcivil 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.
(With PTI inputs)
