Restrictions on the utilisation of Indian air space will be eased so that civilian flying becomes more efficient, Finance Minister Nirmala Sitharaman today said while announcing details of the ₹20 lakh crore stimulus package. "This will bring a total benefit of ₹1,000 crore per year for the aviation sector," Nirmala Sitharaman said.
She further said six more airports will be auctioned for private participation. "Also An additional investment of ₹13,000 crore will be made by private players in 12 airports auctioned in first and second rounds."
"This will bring in optimal utilisation of airspace and reduce fuel costs and flying time," the Finance Minister said.
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.
Nirmala Sitharaman today unveiled the fourth tranche of ₹20 lakh crore fiscal stimulus focussing on 8 sectors - Coal, Minerals, Defence Production, Airspace management, MROs, Power distribution companies, Space sectors and Atomic energy.
In the first two announcements, she had announced measures related to MSMEs, non-banking finance companies (NBFCs), migrant workers and street vendors. While the third round of the stimulus package focused on agriculture and allied activities.
Prime Minister Narendra Modi had announced ₹20 lakh crore special economic package for the country to become 'self-reliant and fight coronavirus. He said that this will be 10 per cent of the country’s Gross Domestic Product or GDP.
The details of the package are being revealed in daily tranches by the Finance Minister.
Log in to our website to save your bookmarks. It'll just take a moment.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.